Having extensively used the services of Accounting and Adviser Services for over 5 years now (since 2018), I have no hesitation in crediting this organisation with improving my business operational efficiency and improving the services I am able to provide my clients by simply outsourcing many of the administration and accounting tasks associated with operating a successful Financial Services business. Whereas I tried to do everything initially, I have learnt a simple business skill which I call an “aggressive outsource” model. Put in plain language, I simply find skilled practitioners who are better at specific tasks and processes that I am and then I outsource that piece of the puzzle to that supplier. So, what started as a simple SMSF Accounting and Audit outsource relationship for my SMSF clients in 2018, this has now grown into an integrated services organisation that takes care of the following business activities for my business and clients alike:
- Client Billing-specifically monthly Adviser Service Fees
- Client Payments re SMSF regular bills needed.
- Portfolio Rebalancing and ROA construction (PIMS system)
- Client Reporting Website operations and management (PIMS system)
- Regular Newsletter and Quarterly Report distribution (PIMS system)
- Personal Client Investments using Portfolio Administration Services (PAS) and enables Tax Reports provided annually.
- Investment Property reporting as part of the PAS service showing “Net Equity” positions always.
- Personal Tax returns provided for my clients where appropriate.
I have moved all my clients from expensive Wrap Systems previously provided by the likes of Macquarie, MLC and ASGARD and moved these to a simple and highly efficient Share Trading platform by using ETFs primarily, have now substantially simplified the “backend” of my business processes also-the PIMS system has been a major enabler here in achieving this outcome. The list above is not exhaustive and there are several clients where multiple entities have been setup to allow an SMSF entity to co-invest with a Unit trust structure and specifically using a 13.22C Trust structure. This isa very flexible and powerful structure to use, and I would encourage further exploration here where appropriate-my clients simply love this entity and structure as setup by the AAS team and managed ongoing. I have no hesitation in recommending Peter Estcourt and the AAS organisation to any aspiring Financial Adviser who wants to hand the administrative tasks to a qualified and proficient organisation and hence enable more client facing time and so improve outcomes for the clients and Adviser ongoing.