OUR BACKGROUND Paraplanners

ComplyX, by way of introduction, is a provider of back-office support services to financial services companies in Australia and has very distinct service offerings which include paraplanning by onshore Australian paraplanners and offshore paraplanners in Cebu, Philippines – (separate from each other), administrative support, CommPay support and compliance consulting. The Onshore operations are separate to offshore. We have two operating entities for this purpose and any Australian clients using our onshore service only deal with Australian paraplanners and no data ever travels through any offshore channels, unless of course our clients opt to use both onshore/offshore. We established both offerings as we found that some clients wanted access to either one or both. What our clients have found is that the perfect outsourced model is a combination of offshore/onshore resourcing.

Our Paraplanners in Australia are located in Sydney, Melbourne and Brisbane.

ComplyX has positioned itself as the only outsourced paraplanning company that is both offshore and onshore. With strategic alliances to compliance and technology businesses, we are well positioned to become the largest outsourced paraplanning business in Australia. We are well known for delivering complex, high quality statements of advice. We have regularly been selected to run large transitional programs which are high volume, complex advice documents where turnaround times, quality and scale are all tested.

Our Client Experience

ComplyX has worked with boutique, medium and large licensees to deliver complex advice documents. Of note is our work with a licensee who has 30+ advisers and growing who we recently engaged with on a pilot. We successfully helped them deliver advice to their HNW clients and have been awarded all their workflow. We are now the sole provider they wish to engage with. Of further note is our large transitional program we delivered for another licensee with 100+ advisers, which consisted of 550 SoA documents delivered over an 8 week period. We scaled to deliver this with 2 weeks’ notice. In general, our target market is a client that can keep 1-2 paraplanners busy with complex work, who uses XPLAN or Midwinter, and is looking to grow.

ComplyX are experts in the use of XPLAN and Midwinter. All paraplanners have at least 4 years’ experience with the majority being career paraplanners. A considerable amount of our current workflow requires detailed customization and complex strategies. Our paraplanners are happy to communicate with your adviser network over any form of communication. Our process is to use our client’s software environment to produce SoA’s.

All ComplyX paraplanners have strong knowledge in XPLAN and regularly (daily) use WealthSolver and XTOOLS+. We have existing clients who recommend Managed Accounts and some of the Wrap platforms we have had exposure to are the BT products and Asgard, MyNorth, MLC (MasterKey) and Macquarie products, Encircle and others.

Click here to see recent references from clients.

A Glimpse of Our Onboarding and Ongoing Process

ComplyX will ask to have a webinar walkthrough of your software, wizard, and template before proceeding. We need to capture and understand any of the areas where your wizard or template may lack in efficiency and/or compliance and/or standard wording. This is also important from a commercial point of view as we price our rack-rate pricing in accordance with an efficient process where data feeds work and everything from XPLAN can flow into the coded template thus eliminating most manual entry (and margin for error). We will also ask to be informed of previous issues around compliance, if any.

Our paraplanning communication forms, which most firms choose to adopt, ask questions around BID and reasoning for why the advice is appropriate for the client. It asks for a SMART approach to capturing goals and relating these back to the client’s personal situation and the advice being provided. We are happy to use any of your own forms.

We will come back to the adviser on any concerns in the advice, paying attention to BID. As an additional service, we can phone the adviser directly for every submitted request to walk through the advice being provided. It should be note however that this can add additional time to each request. We always use our clients SoA template store inside of XPLAN. If we identify inefficiencies in the wizard or template then we recommend a consulting firm, in Enzumo, to consult and build efficiencies into XPLAN.

Our current turnaround has been and remains at 5-7 business days with the option to request an urgent delivery of a SoA for an additional cost. Unusually high demand is managed well by ComplyX as our clients all sign onto monthly volume commitments over a 12 month period. If volumes are to exceed this, we can manage that by placing additional resources onto our clients that require it. Increased volume, like most things, are best handled with good communication by both parties as far in advance as possible.

Turnaround times for changes to an SoA are 24-48 hours. In situations where there is a priority for a SoA to be turnaround, we ask that you try and give us as much notice as possible and we will always work to align with your goals.

5-7 Business Days Turnaround Time

4+ Years Experienced Paraplanners, Degree Qualified

High Quality SoAs

Safe and Secure

Alexander GassnerManaging Director, ComplyX

As ComplyX’s Managing Director, Alex certainly takes on a lot of roles within the business. It is likely that making contact with us will see him get in touch with you to further discussions around outsourcing your paraplanning. With a background in paraplanning, advising, fintech and practice development he brings valuable experience and a proven track record on delivering high volume and high quality SoA’s for businesses. He is involved in every pilot we engage on with prospective clients and maintains a presence even long after you have become an ongoing client. This is part of our value offering and what we stand for, which is to become a long-term extension of your business, with a high touch service offering. If you would like to beat him to it, please get in touch by sending a request for a call-back below.