How Our Financial Planning Outsourcing Service Works

How our operations work

Our financial planning BPO model is built around dedicated, full time offshore staff allocated to your firm under a professional and commercial agreement.

Each client engages at least one full time Felcorp team members that are allocated exclusive to your firm under a full time employment agreement held by Felcorp.

Clients have the option to choose Full Time Paraplanners or Full Time Adviser admin.

Your choice of 2 Full time BPO models:

1.    Full Time Engagements – this is for small businesses seeking 1-5 full time staff. Most smallbusinesses will typically engage 2 staff but initially start with 1 staff.

2.    Pod Engagements – this is for large and enterprise firms that wish to take minimum 6staff engagements. These engagements are referred to as 'Pods', as in a pod ofstaff. Pods are highly customisable, have their own unique management structureand have the option to buyout the pod operation from Felcorp after a specifieddate.

Felcorp Support also offers On Demand Services which caters for ad-hoc, overflow and short-term outsourcing services.

BPO Operations

Our offshore operations are located in Northern India where all of our offshore operational staff work from.

Staff are present full time at our offices with ISO-aligned controls and on-site, round-the-clock supervision by division and quality assurance managers.

Standard Shift Times:

12:30pm to 9:30pm (AEST), Monday to Friday with the option for Operational Pods engagements to set custom shift timings.

Office Location:

Punjab, India

Felcorp Management Framework

Felcorp provides a comprehensive management framework for every single client engagement to ensure that the employees have professional support, career development, technical upskilling and are adhering to set performance targets agreed with the client.

What this means is that when you start the engagement, Felcorp Management will comprehensively support you through the entire onboarding and ongoing management to help you get the very best out of the staff member while ensuring they are motivated, committed and performing to the expectations outlined in our agreement.

For a detailed set of inclusions for every engagement, please see Our Commitment to Quality page.

How to send work

Work can be submitted through the Felcorp Portal or through an agreed task submission method.

Email is often used by our clients and we do not have any issues with this approach as long as data security methods are adhered to when disclosing sensitive information.

During our onboarding process, we will capture specifically how you would like to send us work and how we should respond.

We will always preference a data secure delivery method and illustrate the pro's and con's of each method.

Ensuring Success in New Job Requests

We encourage a systemised, automated and easy method to submit new job requests to our team. It is also vitally important that an initial job request process is adhered to so that we can ensure that every job we receive is not missing information and causing delays.

As an example, each task request should include:

• Client name or reference
• Scope of work required
• Supporting documents
• Target completion timeframe
• Set time budget
• Any firm-specific notes or compliance requirements

Felcorp's internal workflow system

We employ our own internal workflow software where we can adequately manage the assigned tasks to us while properly recording time and SLA compliance.

Our internbal system allows us to properly record time and provide us reporting tools that we can present to you on weekly, monthly and quarterly reporting cycles.

How our QA works

Quality assurance is built into delivery rather than applied at the end.

Every completed key deliverable undergoes an internal review before being returned. QA checks include:

• Accuracy of calculations and modelling
• Alignment with provided instructions
• Compliance with documented firm processes
• Formatting and document consistency
• Data reconciliation where applicable

For advice documents, our QA team verifies strategy alignment, product accuracy and supporting calculations against source documentation.

Error tracking is maintained internally. Trends are reviewed to identify process gaps or training requirements. If revisions are required, turnaround follows priority guidelines.

QA operates independently from the full time staff with all management review time tracked for ongoing staff development and training initiatives.

How the trial works

The trial period allows your firm to test workflow alignment before committing to long-term engagement.

The trial typically runs for a defined period or volume of work. To learn more abour our trial options, please see our Financial Planning Trial.

During this time, our team:

• Evaluate your processes,
• Evaluate your systems,
• Write down your Standard Operating Procedure (SOP),
• Determine what your performance SLAs are,
• Determine exactly what staff member will suit you best
• Gathers your feedback

At the end of the trial, performance is reviewed jointly. If both sides are aligned, the engagement transitions into a standard engagement with the SLAs and SOP embedded in the agreement and reported on every month for transparency.

How our SLAs work

Service Level Agreements (SLAs) define turnaround expectations and time budgets for all standard jobs allocated. Simply, SLAs are defined performance expectations and guarantees that are contractually stipulated clauses that Felcorp must adhere to.

Without SLAs, evalauting whether an engagement is fit for purpose long-term becomes very difficult with both sides unclear on what makes an engagement successful. Therefore, complanceny and misaligned expectations appear and the engagement becomes at risk of termination.

For more indformation about SLAs, please see our article on What is an SLA in BPO Services within our Understand BPO collection for a detailed explanation.

Example of SLA:

A Client sends consistently 3-4 advice requests of the same size and complexity to the Felcorp paraplanner each week. The Client has asked that every advice case is completed within 72 hours of the receipt of the request.

Further, during our trial with the Client, Felcorp completed 10 similiar advice cases with an average of 8.5 hours.

In the contract, the SLA may look something like this:

SLA 1:

1. 95% of allocated jobs to be completed within 72 hours (excluding weekends) of New Request Receipt.
2. All jobs that exceed 96 hours must have a reason explaining non-compliance.
3. On non-compliance, all jobs that exceeded the 72 hours, 50% of the total time taken must be remitted back to the Client as additional hours at no cost.

The reason we have SLAs is that it forces Felcorp to adhere to set expectations but mostly because it gives our Clients with clear transparent reporting that can be used to isolate areas and illustrate our success in real, meaningful terms to you.

Contracts without SLAs are twice at risk of failing than those with SLAs.

How the Felcorp Portal works

The Felcorp Portal is the central task management system used to submit, track and manage work as well as manage all aspects of the Felcorp relationship. All clients will get initial access, however, it is not mandated to use it for all workflow interactions.

The Felcorp Portal forms another part of our internal quality assurance mechanisms which helps us manage relationships at scale and isolate problems immediately.

Within the portal you can:

• Communicate with your team
• Communiacte with Felcorp management
• Upload supporting documents
• Set priority levels
• View task status
• Download completed work
• Track SLA performance

Each task receives a unique reference number, called a Job Number [JN00500] for example. Status updates reflect progression from received to in-progress to QA to completed.

The portal maintains a record of communication linked to each task. This reduces reliance on email threads and centralises documentation for internal auditing and compliance purposes.

Access permissions are role-based and limited to authorised users. For more information, please see our Felcorp Portal articles.

How the set up works

Engagement begins with a structured onboarding process as part of the larger trial process inititaed with every new engagement.

The setup phase includes:

1. Initial Discovery Call
2. Signature of the Trial Engagement
3. Introduction to Felcorp Management staff and full time staff (if applicable)
4. Systems access configuration
5. Commencement of Trial
6. SOP set up
7. SLA set up
8. Start of formal engagement

For a detailed guide, please our Onboarding Process.