Moving on, page-282

Hi justbyanose

Thanks for the post, just need to clarify a few assumptions, here. Yes Dover do offer SOA’s as you rightly noted but as a extra service, advisers also have the option to use any other parraplaing service or back office service, you’ll find most licensees offer these services to their advisers.
I have spoken with Dover and they advised that many of their FP’s prepare their own SOA’s as they have ROBO which can produce an Risk & Super SOA within 15mins and secondly most our their advisers use Adviserlogic, Midwinter and Xplan which has templates to produce SOA’s. Dover’s SOA‘s have up to 12 pages and as little as 3 pages, again according to these guys, advisers can produce SOA’s very quickly and very efficiently..
The other point you raise Dover charge Licensee fees, unfortunately all Licensee do including Sentry, I just recently assessed my own options on setting up an AFSL for the record Dover has the cheapest fees in the market, Sentry would be in line with most other Licensees $25k plus some sort of revenue split. Some FP practices can pay up to $100k in licensee’s fees.
Also any adviser who runs their own business has the freedom to use back office services and this includes Sentry advisers, it’s good that Sentry has endorsed IAM‘s services but its still entirely up to the advisers if they choose to use IAM or any other service provider. Last point the average FP practices is one adviser and perhaps 2 support staff, your figures or an Adviser writing 3 SOA’s per week are probably over optimistic assume one SOA probably best 2 SOA’s per week. GLTA