Elixir Consulting has developed a tool to clarify what is lacking in a practice's business model and what could be implemented to ensure growth and prosperity in 2013.
The 'check up' service for advisers and licensees is designed to gauge their business model's sustainability and is not a compliance measure but rather a practice management tool.
The launch comes in response to the significant volume of legislative and industry change that has occurred in recent months.
It would "cut through the noise" of regulatory change and provide a clear and concise checklist of business model aspects that needed to evolve, Elixir Consulting managing director Sue Viskovic said.
"Many advisers are feeling overwhelmed about the quantum of legislative and culture change they are seeing, and [also] finding it difficult to know where to direct their focus in their business," Ms Viskovic 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."
Reports developed from each check up should enable practices and licensees to identify where to direct their resources and attention to assist advisers, as well as improve mutual profitability and sustainability.
The program is dynamic since it offers customised questions and suggested solutions, specific to financial advisers, accounting-based practices and also those who specialise in risk advice.
