Elixir Consulting has begun marketing a new tool it says is aimed at helping advisers and their licensees confirm the sustainability of their businesses and any deficiencies.
According to Elixir managing director Sue Viskovic, the new service is not a compliance check-up, but rather a practice management check-up intended to allow advisers to "cut through the noise" of regulatory change and provide a clear and concise checklist of aspects of their business model that need to evolve.
"There is no doubt that successful business models of the future will look different to what they did in the past, and yet many advisers are feeling overwhelmed about the quantum of legislative and cultural change they are seeing, and are finding it difficult to know where to direct their focus in their business," she said.
"We designed this product in response to a licensee who wanted our expert opinion on each of their practices, but didn't have the budget to pay our coaches to analyse each business in person," Viskovic said.
She claimed that what Elixir had created was a fully automated online tool that enabled advisers to answer a series of questions about their business, and receive a customised report that provided some clear suggestions about the areas of their business that require their attention.
