Want to get a better understanding of the potential savings your advice firm could make by outsourcing some of your core activities? Simply select the total base salary amounts relevant to your business with the sliders – if you have multiple staff in each category, put in the total base salary for all staff. The calculator will do the rest.
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Calculated based on 48 weeks per year (allowing 4 weeks for annual leave) and an average of 30 productive hours per week, when allowance removed for time attending emails, lunch breaks and phone calls.
An allowance has been made for Super Guarantee contributions of 9.5%, payroll tax of 5% and on-costs of 20% to cover bonus payments and additional employment costs.
Total average time to on-board an individual client is based on 4 hours of Adviser time, 6 hours of Employed Paraplanner time and 8 hours of Employed Administration time.
With outsourced Paraplanning, the average time to on-board an individual client has been reduced to 3 hours of Adviser time, 1 hour of Employed Paraplanner time and 4 hours of Employed Administration time.
Each SoA contains an average of 2 to 3 strategies with modelling at a cost of $300 including GST
For each client on boarded, an average of 4 hours of outsourced administration work completed at a cost of $15 per hour including GST.
An average of 3 SoA’s are being completed each week.
The information provided in this calculator has been prepared as general advice only and has been issued by Centrepoint Alliance Ltd and Alliance Wealth Pty Ltd (AFSL 449221) and Professional Investment Services Pty Ltd (AFSL 234951).
We have not considered your full financial circumstances, needs or objectives. You should consider the appropriateness of the output and seek assistance before acting on any advice. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Centrepoint Alliance Ltd nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.
The assumed outsourcing times and costs are averages and are subject to change. When assessing the potential savings, the outsourcing costs may differ depending on the complexity of the advice.
The output of the calculator is subject to the assumptions provided and are subject to change.