ProfessionalInvestment Services (PIS) has purchased the first online practice management manual produced in Australia and will roll it out across its dealer group.
The manual was created by Focus Financial Group, which holds a proper authority through PIS.
PIS announced the purchase last weekend at a conference for the group’s business development managers, who will be involved in the roll out. Planners in the PIS group will pay to use the manual with Focus receiving payments on a royalty basis.
Financial planner and partner with Focus Tim Swift says the manual was designed to operate across the Intranet of a dealer group.
“We made the manual for ourselves but saw what it may do for other businesses and believe it would be useful in bringing in new staff or even buying other business,” Swift says.
Swift says the system will work across the dealer group, which has about 1,000 planners, and was targeted at those advisers who were trying to build systemised advice in their practice.
The manual is broken up into modules covering a number of areas, including estate planning and corporate super. Swift says other planners can add their own information to reflect their particular way of doing business.
He also hopes that other planners will provide feedback and further information to expand the manual and says his group is not concerned about going public with their own intellectual property.
