1. Felcorp Support Celebrates Annual Party with Staff

Felcorp Support had our annual party in May 2024. With most of the staff attending including Mark and Toby at a local bar and restaurant that we hired for the afternoon.

We wanted to thank all our staff for their hard work and diligence in working with us. Here are some of our favourite pictures below.

2. Offshore Outsourcing Market Update

We are seeing a rise in offshore outsourcing providers that are not industry-specialised hiring staff in a range of industries in Australia, UK, USA etc including Australian Accounting and Financial Planning.

There is this naive belief that these providers can successfully provide specialised financial planning or accounting staff to Australian practices with no experience at all in operating in those industries. They are simply shoehorning staff into practices and leaving it up to the clients (i.e you) to train and manage the staff.

As a result, we are starting to see outsourcing fatigue in the market in which firms are bombarded with offshoring offers and are getting fed up and tired of sub-par service.

We have recently been contacted by CPD event organisers and specialist software providers that are keen to align themselves with Felcorp Support as we have relevant industry experience and are able to deliver a better customised service to firms that fit their process.

There is certainly a need for offshore outsourcing but the feedback we're hearing is that firms want to be aligned with specialist providers not offshore recruiters.

3.Updates to our Paraplanning Service

We are bolstering up our paraplanning service by expanding our training and development program into more in-depth areas in investment and portfolio construction. Akshay is leading the team on this training course so all our paraplanning staff have the same baseline investment knowledge.

In our admin service, we are expanding the team and due to demand from our admin staff they have expressed a strong interest in mortgage broking administration as a few firms have a connected mortgage broking service.

So we will be training our admin staff in mortgage broking admin to expand their skillset and continue with their professional development at Felcorp.

4.Updates to our Accounting Service

In a big update for our Accounting service, we are training all our accountants on Spotlight Reporting. Spotlight Reporting is a sophisticated cashflow modelling and reporting tool that connects to Xero to provide cashflow forecasts.

All our staff will be going through this training meaning that it is no additional cost or time required by you. We are building this in to our normal Full Time accounting service.

Despite most practices wanting to do more advisory work, one the biggest impediments to get started is the time commitment in learning a new software. We know you don't have the time to spend hours working out how to use the software, so we're investing the time here at Felcorp to do this on your behalf.

In the coming weeks and months, we will be presenting you each a quick rundown of the cashflow forecast deliverables and how you can request a cashflow model for your clients.

Furthermore, we will provide you with estimated time and revenue potential guidelines that indicate how you can commercial this service to your clients.