5 tips for a smoother self-licensing experience
08 July 2020 by PlanFocus Team


Whether you are considering self-licensing, or you are an existing licensee taking on new advisers, transferring client and adviser remuneration can be a difficult task for the inexperienced. If your sense of timing and execution isn’t right, it can cause significant delays in being operational.

Violet Sabo from Planfocus has performed more adviser and licensee transfers in her 20 plus years in wealth management admin than most have done in a lifetime. She says the challenges of successfully getting new Distribution Agreements up and running is often a case of not ‘what you know’ …but ‘who you know.’

“Yes,” explains Ms Sabo, “…knowing who to call and when to call them moves the process along. The key is to have a plan and understanding which providers are slower and need special attention and which suppliers can be left to do the job.”

Violet heads up the Brokerage Processing business at Planfocus Consulting. She plays a lead role in supporting Planfocus’ licensee clients with their onboarding and adviser code transfer needs.

Here are Violet’s 5 top tips for a smooth licensee revenue transfer experience.

  • Communication is king. Once the announcement is official, call all your provider account managers and give them your dates.
  • Ensure you are working with up to date provider list with current adviser codes
  • Good practice is to have all transfer documents ready on appointment day so you can contact providers immediately that day
  • If no contact within 2 days, follow them up with an email. If nothing in 5 days – call your provider BDM to escalate the request.
  • Track the transfer from each provider. If you are using revenue tracking software set up daily or weekly reports.

Violet and the team at Planfocus offer a range of back office and admin support services to a growing list of more than 20 licensees nationwide. To ensure you are able to meet demand, offer great service and grow your business, give Planfocus a call on 1300 361 973 or visit our website at www.planfocus.com.au for a confidential discussion.

1300 361 973

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