Almost a third of an Australian financial planner’s time is spend on compliance and administration, compared to a global average of less than 20%.
This highlights the need for advisers to find more efficient ways of operating.
Core Data, in their report Adviser efficiency: Business Processes in Australia, reach the following conclusion:
If advisers can find a way to reduce some of this administrative burden, it has a tangible impact on the profitability of their business.
