MLC Advice

MLC Advice aims to make advice easily accessible to help more people achieve their financial goals. We actively work with our customers to support them to achieve the things that are important to them, whether they are just starting out or looking to make their existing plans more effective. MLC Advice is part of MLC who is one of Australias largest wealth management companies which has been helping Australians keep financially safe and secure for over 125 years.

Area

Financial advice

Business Established

2012

Units / Locations

FCA Member

Multi-Unit Ownership Allowed

Agreement Terms

Ongoing

Royalty Fee

n.a

Average Set up Time

Approximately 12 weeks to establish a new MLC Advice centre from appointment to operation

Ratio of Support Staff per Franchisee

0.4 staff per franchisee

Comparative Growth

Based on the lead generation activity, the MLC Advice centres aim to create on average 140 leads per year and new business revenue of approximately $130,000 to $160,000 per year. On average 35% conversion across different client types, fees per client range from $1,400 pa to $6,750 pa. In addition to this new business revenue, this case study assumes the leasing of a client book in year 1, with annual ongoing revenue of $175,000

Last Surveyed

August 2016

Participation Rate

83%

Initial Investment

Franchise Fee $50,000 - Option to pay a license fee to access a client base

Training

Two-day Induction Program followed by peer forums every six months, Ongoing advice skilling completed by a dedicated Account Development Manager, Business support provided by a dedicated Account Manager who meets with advisers fortnightly, Initial 90-day business plan followed up with annual business planning that is further supplemented by monthly reviews.

Marketing Support

$10,000 Local Area Marketing budget provided to each MLC Advice centre, with Account Managers support in providing insights on how this can be spent within their community

Business Model

MLC Advice centres are owned and operated by qualified financial advisers who are licensed by MLC. MLC Advice provides financial advice to customers in a retail environment within local communities. Because of our consistent customer advice experience, clients know what to expect when walking into any MLC Advice centre. We develop deeper and broader relationships with customers while building on MLCs trusted brand reputation.

Main Cost

Leasing a client base, Rent and Licensee fee

Main Products or Services

Advice Super, Insurance, Investments

Future Plans

Leveraging MLCs strong brand and reputation together with a robust business model, MLC Advice aims to expand to 40 quality franchise owners by September 2016. We aim to deliver a great customer experience by making it easy for customers to seek advice within their local community. We will continue to deliver services and processes that focus on the customer to drive productivity and efficiencies to create successful MLC Advice centres.

Testimonials

"Starting my financial planning practice with MLC Advice was a fantastic decision. The strength of the systems and support provided mean that I can focus my energy on looking after my clients and building the practice. You benefit immediately from the established processes and support of peers, so there’s no time wasted re-inventing the wheel.

I recommend any financial planner who wants to run their own practice give the MLC Advice team a call."

Michael Miller

MLC Advice Canberra

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