Frequently Asked Questions
Adviser FAQ
Does Ignition Wealth hold an Australian Financial Service License (AFSL)?

Ignition Wealth is a unique fintech because it holds its own wealth management license (AFSL number 470605). You can choose whether to on-sell the product under the Ignition Wealth name and AFSL, or to utilise our technology to white label with your brand and your AFSL.

Can an automated investment service really provide everything offered by a 'real' financial adviser?

The Ignition Wealth service is a suite of algorithmic driven advice and investment tools, which can deliver almost every facet of the service traditionally provided by financial planners.

The Ignition Wealth Platform provides investment advice, recommends, monitors, rebalances, executes and delivers statements of advice (SoA) all online.

Can an adviser practice set their own pricing?

Yes, pricing is determined by the AFSL holder who is providing advice.

How does Ignition Wealth’s technology meet Best Interest Duty (BID) obligations?

Our range of solutions has compliance at its core. Every client’s situation is different. Ignition Wealth provides the client and their adviser with clarity around what advice is being offered and what advice is not being offered. At each point along the advice journey, the client can elect to speak to their adviser to clarify any issues to ensure that their interests are being satisfied.

Additionally, the algorithms used by Ignition Wealth are tested on a regular basis as per ASIC’s guidelines.

Is the technology customisable?

Yes. Ignition Wealth’s technology solution is fully customisable to meet the needs of the adviser. Once specifications are determined by the adviser, Ignition Wealth will provide a scope of work with accompanying timeframes and costings.

Where does Ignition Wealth store all of the client data collected throughout the application process?

All information collected from the client is stored on the Ignition Wealth Database servers in the Amazon Secure Web cloud.

Does the adviser have complete transparency over their client accounts?

Ignition Wealth provides advisers with their own logins so they can see their own clients and provide advice through our secure messaging system.

You own your clients. Our ‘teams’ technology allows you to view every stage of your clients’ journey: their fact find responses, assessed risk profile and statement of advice. The technology is highly scalable, meaning that the ‘teams’ platform will work perfectly whether you are a sole operator or part of a large adviser group.

How does my client register with Ignition Wealth?

Your clients access the secure Client Portal via a link from your existing website, or embedded directly within your existing secure area.
Once logged in, clients complete an online risk assessment and then may be offered a portfolio matched to the risk tolerance of the investor. If your client chooses to accept the recommended portfolio they are then guided through the process of setting up a Macquarie cash management account and an OpenMarkets online brokerage account. The accounts are always in the client’s name meaning that there is no counterparty risk. Our HIN-based system ensures that legal and beneficial ownership and ultimate control of the underlying investments remain with the client.

Can Ignition Wealth’s digital advice solution be white labelled or co-branded?

Yes. Financial advisers have the opportunity to ‘white label’ or ‘co-brand’ Ignition Wealth and offer their clients a seamless experience within their planning business. Our technology solution has been successfully embedded into a number of financial advice businesses and is flexible in being able to integrate with existing planning software

How does Ignition Wealth’s technology provide an additional revenue stream for advisers?

Financial advisers can generate a new income stream from existing clients without any additional time, cost or staff. By using Ignition Wealth, advisers can enhance client loyalty by ‘incubating’ these client accounts until they need to receive full-service advice

You can grow your income with minimum outlay by monetising your existing distribution. The low cost, low touch, high tech model allows you to grow your business revenue by profitably servicing clients with smaller balances to invest.

Is the Ignition Wealth offering only for low balance clients?

No. Digital technology solutions can apply to every client in your client base. Think of it as using technology to enable more efficient client engagement. This could be for automating SoA production for C&Ds but also video conferencing/webinars for servicing advice needs for your busy, professional A&B clients.

How does Ignition Wealth’s digital advice solution mitigate compliance costs for an adviser?

Ignition Wealth’s digital advice solution enables advisers to mitigate compliance costs and time associated with managing these clients

Our self-directed platform enables your clients to manage their planning process. Through our goal and risk profiling, they are allocated an investment into one of our model ETF portfolios. Throughout the investment and planning process, we record your clients’ planning documentation, as well as any changes they make to their investment plan by automatically recording the existing SOA and dynamically producing a new SOA.

How long does it take to integrate Ignition Wealth’s digital advice solution?

The integration period is short and seamless. An adviser opting to integrate the ‘out of the box’ solution can expect to have the integration completed within 5 working days if Ignition Wealth have received all required documentation.

Accountants FAQ
How does Ignition Wealth work with my practice?

Accountants already provide a broad range of services including complex tax and audit advice for their clients’ SMSFs. Ignition Wealth’s online investment service gives accountants the opportunity to provide a one stop shop offering to their clients.

How has Ignition Wealth addressed the changes to providing SMSF advice from July 1, 2016?

From July 1, 2016 the exemption available to accountants ceased. From July 1, 2016 any advice provided by accountants in establishing or closing an SMSF must be provided with an AFSL. Ignition Wealth has an AFSL (licence number 4760605) and can assist those unlicensed accountants in continuing the advice relationships with their clients.

Can referral fees be paid to my practice?

Yes. Ignition Wealth on our AFSL will pay referral fees to the referring accountant however if the accountant chooses not to receive any payment this referral can be switched off or rebate back to the client.

When requiring further advice who does my client contact?

Throughout the client’s advice journey the client can speak with an Ignition Wealth qualified advice professional and any such conversations are recorded against the client’s record which is accessible to the accountant to view.

What advice solutions can be provided to my existing SMSF clients?

Through Ignition Wealth’s online investment service, clients can receive diversified investment portfolios, access to the online resource centre other SMSF solutions such as an SMSF appropriate tool

How does Ignition Wealth ensure that my client data is secure?

All client data is stored on the Ignition Wealth database servers in the Amazon Secure Web cloud.

Who is the beneficial owner of portfolios setup for my clients?

If your client chooses to accept the recommended portfolio they are then guided through the process of setting up a cash management account and online brokerage account. The accounts are always in the client’s name meaning there is no counterparty risk. Our HIN-based system ensures that legal and beneficial ownership and ultimate control of the underlying investments remain with the client.

Superfunds FAQ
How long has Ignition Wealth been working with Industry Super Funds?

Ignition Wealth has been working with Industry Super Funds since 2010, to drive member engagement and provide superior member experiences by powering compliant superannuation advice tools and calculators to fund members.
Our solutions’ foundation workflow platform, wealth management algorithms and out of the box tools are widely used by leading Australian superannuation funds

In 2016 we announced a partnership with Link Digital Solutions that brings Ignition Wealth’s digital advice technology to superfunds that use Link’s aaspire fund administration platform.

How does Ignition Wealth help with member engagement?

We can work with your fund to embed our technology into your website, drive leads to your advice team and send emails to prompt your members into action.

Our components can be embedded into your current website, taking members step by step through where their super is heading and what strategies they could implement.

What is the range of tools that Ignition Wealth provides?

We have developed a range of calculators including Superannuation and Retirement calculators, Investment Choice calculators, Insurance within Super calculators and Non-Super Saving calculators. There are well over a dozen customisable calculators and our menu is constantly growing.

How can we be certain our compliance obligations are met?

Our in-house compliance team has years of experience developing compliant digital advice solutions. That same team is responsible for our Intra-fund advice tools used in the superannuation industry. We have highly-automated, stringent measures to ensure our systems have full audit trails and are protected every step of the way. Our standard service includes maintaining the latest Centrelink rules and rates and we work with the funds closely to ensure any changes to legislation are reflected appropriately in a timely manner. Hosted in Amazon’s Sydney data centres, your data remains in Australia, and is encrypted in transit and at rest.

But our fund is different?

At Ignition Wealth, we work hard to stay out of the limelight. Your members deserve individual attention and our bank-grade system is fully customisable to reflect your brand identity. We offer more off-the-shelf branded solutions as well as fully bespoke experiences that ensure members enjoy a superior advice experience.

How do you charge?

The digital advice revolution is happening, but Ignition Wealth understands that many funds are early into their digital advice journey and are refining their digital advice strategy. We can assist in numerous ways: let us help you refine your strategy, and develop your vision for online advice.

Our Superannuation solutions are priced as a Software-As-a-Service (SaaS), being a monthly minimum charge plus usage charges. We have also been asked to provide fixed price solutions that contain a Fair Use provision in the likely event your solution exceeds usage expectations.

We use (name) as our fund administration engine, can you work with them?

Yes, we will integrate to your fund’s administration engine if desired. Our partnership with Link Digital Solutions means we integrate out-of-the-box with MemberCentre and Aaspire. We have been asked to integrate with other Fund administration systems and will continue to expand our coverage here.

Enterprise FAQ
What is an Enterprise?

An enterprise is an organisation which wants to provide financial advice to its staff and/or its clients, therefore, providing corporate benefits and a sense of belonging.

How does Ignition Wealth work with my organisation?

Ignition Wealth offers a white-label (your AFSL) or co-branded (Ignition Wealth’s AFSL) digital advice solution. Our offering is flexible and can be tailored to meet your organisation’s requirements.

Can the Ignition Wealth solution be customised to work with our financial products and portfolios?

Yes. Ignition Wealth’s solution can be customised to work with your financial products and portfolios.

Can the user experience be customised to match the needs of our clients?

Yes. Ignition Wealth ensures that the client is at the centre and surrounded with compliance. The client experience can be customised to meet the needs of your clients. A scope of work would be required to outline associated costs and expected timeframe for project completion.

Can Ignition Wealth support customers in countries outside of Australia and in currencies other than Australian dollars?

Yes. The Ignition Wealth platform supports multiple languages and is multi-currency.

How does Ignition Wealth integrate with our existing platforms and software?

External platforms and solutions can be integrated to Ignition Wealth via Application Programming Interfaces (API). If we do not currently integrate with your required platform a scope of work will be completed by Ignition Wealth to provide you with a timeframe and associated costings for the integration.

Ignition Wealth’s consulting team can evaluate integration options to your preferred back end systems.

Can our clients be referred from the digital financial advice solution to our advice team?

Yes. At any stage through the various advice journey’s (robo, robo-assisted, full advice) your clients can be referred to your advice team.

Who is your advice team licensed through?

Ignition Wealth’s advice team is licensed through Ignition Wealth – AFS License 470605.

How flexible is the Ignition Wealth pricing for Enterprise clients?

Enterprises which white-label Ignition Wealth’s offering have full flexibility over the pricing they wish to charge to their clients. Co-branded solutions will adopt the standard Ignition Wealth pricing however referral fees may be paid.

Can Ignition Wealth train and support our distribution team?

Yes, Ignition Wealth provides full on-boarding training and ongoing support.

How can I be sure my clients are protected?

Regardless of whether our solution is white-labelled or co-branded, you own your clients. You and your clients have full transparency of all interactions with the support and advice teams.

How does Ignition Wealth support low balance clients?

Ignition Wealth’s offer caters for all types of clients regardless of balance. Best Interest Duty (BID) is at the centre of everything we do. In addition to offering low cost portfolios, Ignition Wealth’s support includes:

  • Financial snapshot
  • Research
  • Tools / Calculators
  • Education
  • Document Storage
XPLAN FAQ
How can I monetise my client base?

You can grow your income with minimum outlay by monetising your existing distribution. The low cost, low touch, high tech model allows you to grow your business revenue by profitably servicing clients with smaller funds to invest, including those with less than $250,000 to invest.

You will also access new clients including millennials who are demanding a high tech solution across the spectrum of all of their financial needs. Your compliance costs will be minimised and you will free up time to focus on your high net worth business.

Who owns my clients?

You own your clients. Our state of the art ‘teams’ technology allows you to view every stage of your clients’ journey: their fact find responses, assessed risk profile and statement of advice. The technology is highly scalable, meaning that the ‘teams’ platform will work perfectly whether you are a sole operator or part of a large adviser group.

How are the model portfolios created?

The model portfolios are created by the Ignition Wealth Investment Board. Additional information is provided by our industry partner Lonsec Research. There are a total of six risk profiles and 11 model portfolios, comprised of ETFs from Blackrock, Vanguard, State Street and BetaShares.

How does my client register with Ignition Wealth?

Your clients access the secure Client Portal via a link from your existing website, or embedded directly within your existing secure area.

Once logged in, clients complete an online risk assessment and then may be offered a portfolio matched to the risk tolerance of the investor. If your client chooses to accept the recommended portfolio they are then guided through the process of setting up a cash management account and a brokerage account. The accounts are always in the client’s name meaning that there is no counterparty risk. Our HIN-based system ensures that legal and beneficial ownership and ultimate control of the underlying investments remain with the client.

Can I trust Ignition Wealth?

Ignition Wealth’s team and technology both instil trust in our brand.

Co-founders CEO Mark Fordree and CTO Mike Giles are veterans of the financial industry and together bring sixty years of experience in investment banking and financial services software development. The Ignition Wealth advisory board comprises of some of the most influential people in the Australian industry. Read more about Our Team.

Meanwhile our technology is proven; Ignition Wealth has a six year track record providing intra fund advice tools to leading Australian institutions, where over 750,000 transactions have exceeded $10billion.

Does Ignition Wealth hold an Australian Financial Services License (AFSL)?

Ignition Wealth is a unique fintech because it holds its own wealth management license (AFSL number 470605). You can choose whether to on-sell the product under the Ignition Wealth name and AFSL, or to utilise our technology to white label with your brand and your AFSL.

See Ignition Wealth for Teams for more.

What kind of XPLAN services do you offer?

Our advice services team offer a range of XPLAN services including

  • Development and customisation
  • Site Administration
  • Training
    Technical support
  • Integration support
What kind of customisations do you provide?
  • Advice documents and wizards
  • Workflow tasks and threads
  • Fact find
    Data migration
  • Site setup
What does XPLAN site administration involve?

XPLAN site administration includes helpdesk support, data feed setup and management, data integrity maintenance and commpay setup and management

What kind of training can Ignition Wealth provide my practice?

Ignition Wealth can provide a range of training and learning experiences customised to meet your needs. These include:

  • Online workshops
  • Telephone “how to” support
  • Site visits
  • Training videos
Digital Advice Platform FAQ
Under whose license is the advice offered?

The digital advice offering can be offered under your own AFSL license or under our AFSL.

Whose platform do clients invest with?

Clients invest through model portfolios in our suite of ETF portfolios or into your models on your platform.

How does a digital advice process improve my practice efficiency?

A digital advice offering in your practice exponentially increases productivity and efficiency in your office. This is because of the scale achieved when clients share the advice journey with you. Clients simultaneously completing fact find information and exploring their goals, in preparation for their next adviser meeting.

What is the digital advice consulting service?

The development of a digital advice stream within your business is more than just a link on your website. The process involves understanding your client segmentation, your platforms and the services you want to digitise. Our consultants are experts in digital advice processes and will work with you to bring your vision to life.

By working with you and your staff we design the digital process flow from end to end catering for your own business vision.

Then we implement the solution and work with you on building its success.

What is the #roboready program?

The #roboready program provides advice practices with the framework to deliver a digital advice experience to your clients.

  • You have identified the level of digital advice you would like to offer your clients by client segment
  • Your data is of a high quality and can be displayed to clients with confidence in its completeness and accuracy.
How does XPLAN integrate with the digital advice platform?

XPLAN and the digital advice platform are CRM and balance sheet integrated. This means that clients can be on boarded from within XPLAN either singularly or in groups and changes made by clients during their advice journeys flow back to XPLAN for further modelling, SoA creation or to update the CRM.

Data initiated on the advice platform from prospects also travels back to XPLAN to create the record and set tasks for staff to follow.

Task Integration – Tasks and workflow threads can be initiated from XPLAN for clients to complete activities on the advice platform. This allows the practice to control and drive the activities for clients all overseen on the adviser dashboard.

Are there any other points of integration?

Other areas of integration include client notes, goals and objectives, adviser diary, investment objectives and risk profiling.

What is an advice journey?

An advice journey is a set of tasks undertaken by the client triggered either by the client, the system or by a task assigned to them in XPLAN

What happens at the end of an advice journey?

An advice journey ends with either a follow-up task or an online SoA (can also push to XPLAN for SoA production)

What are some examples of client advice journeys?
  • Update my profile (health check)
  • Understand my attitude to risk
  • Pre-review checklist
  • Explore my goals
  • Watch a video, presentation or read a blog
  • Take control of my cash flow
  • Start a rainy-day fund
  • Save for something special
  • Retire on my terms
How flexible is the digital advice process?

Very. Practices can customise the types of advice offered to meet their specific segmentation strategies.

Do all my clients see the same thing?

No. The experience can be customised to match the segmentation strategy you want to deploy.

Some client segments can be fully automated with no adviser interaction

Other segments can be partially digital and downloaded to XPLAN for SoA production

For other segments, the experience may be digital engagement only

Can I use my own risk profiling questions?

Yes. The profiler can be customised to meet your requirements

Can I use my own model portfolios?

Yes. The model portfolios can be customised. A scope of work would be completed to assess associated integration timeline and costs.

Can I use my own platform or fund manager?

Yes. Ignition Wealth can connect to any platform that has an electronic connectivity.

Can you help with AML and KYC?

Yes. The digital advice platform uses the Green ID verification process. All clients onboarding an account can be verified online.

What features does the digital advice platform contain

The digital advice platform is continually being updated to meet adviser and client demand. The current version contains the following features

  • Online Registration and EDM campaign management
  • Online Client Profile
  • Fact Find
  • Risk Profiler
  • Goals Explorer
  • Calculators and tools
  • Live bank and credit card feeds
  • Individualised advice journeys
  • Document vault
  • Balance sheet reporting
  • Video conferencing
  • Secure advice team messaging
  • XPLAN integrator
  • Adviser Dashboard
More questions?

We know that every business has unique questions. Our Business Development Managers are here to talk to you about your needs and to answer all the questions you have.

 

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