Interesting take GT.
Does it sound right that there is one back-office resource for every planner on the front line? Sounds seriously expensive.
Side note - I've chatted to a couple of (affiliated, either AMP or NAB) FP's who I think stated that they produced their own SOAs (no dedicated resource to produce these on their behalf). In this case, would the 40% be more of a soft saving (reduce own admin time, increase own selling time) rather than a hard saving (reducing admin headcount)?
MG
895m Reasons to Succeed - IAM Overview & Future, page-83
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