case study
Creating a profitable advice business without an AFSL
What value could you get from subscribing to accountantsGPS and moneyGPS?
Accountants enjoy digging into the numbers. So, if you’re considering subscribing to accountantsGPS and moneyGPS but are wondering what value it will truly bring to your practice and clients, you’ll want to read this case study.
Scenario: Accounting Firm ABC Accounting has 500 Clients & 40 Eligible SMSFs
They haven’t been able to make advice profitable in the past. They have tried to offer advice services by becoming licensed and employing a financial adviser, and they’ve tried SMSF licensing with a support person but haven’t been able to make it viable. Currently, they have relationships with an external adviser, mortgage broker, insurance and other financial services providers for around 10% of their clients who can afford financial advice.
They select the Professional + Marketing Plan
ABC Accounting can now service SMSF, SME and individual clients and create a new revenue stream with a minimal time and cost commitment.
Providing value to SMSF clients
Because their practice uses BGL’s Simple Fund 360, they can generate SMSF Check-Up reports in accountantsGPS for their SMSF clients as part of an end-of-financial-year strategic review and client meeting. The average report takes 5 minutes to prepare. ABC Accounting decided to charge $500+GST for the report.
Providing access to affordable financial advice for Individual & SME clients
Using the moneyGPS platform, ABC Financial can offer all clients access to affordable digital advice, guidance and education without needing a licence. Appropriate single-topic advice delivered through the moneyGPS AFSL is available for their clients to purchase from $90+GST. Plus, they can speak to a GPS coach for human support.
Adding value to ABC Accountants practice in numbers
Click on the image to expand the table.
ABC Accountants receives 80% of all financial services revenue
Both initial and trail, with the remaining 20% directed to GPS-nominated charities. 100% of revenue is retained for incorporated internal advisory or external referral services and products.
Practice operations: minimal impact and effort
The done-for-you marketing program means clients are nurtured without adding additional burden to existing staff. With an onboarding commitment of approximately 1 hour, the impact on the practice is limited.
Accountants who use BGL’s Simple Fund 360 can subscribe today to start getting results like these in their practice.
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accountantsGPS and moneyGPS SaaS products provide affordable, compliant digital advice and SMSF services, to Australians through; Institutions, Accountants, Financial Advisers, Superfunds and Employers.
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Fiduciary is an Australian Fintech and owner of accountantsGPS and moneyGPS—SaaS products that provide affordable, compliant digital advice and SMSF services, to Australians through; Institutions, Accountants, Financial Advisers, Superfunds and Employers.
Designed by finance industry stalwarts George Haramis and Drew Fenton and created by a team of tech heads, it combines all the brilliant parts of the financial services world in a simplified, user-friendly way.
accountantsGPS integrates with BGL’s API extracting data from BGL’s Simple Fund 360 SMSF administration software to produce a digital SMSF Check-Up report.
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