Jasia Fabig

CEO Fitzpatricks Private Wealth,
Group Executive Advice

Dear FPW Adviser Community,

At the time of writing, the team and I have just completed a month of Adviser Days. Thank you to each and every one of you that took the time away from your businesses to attend and participate. I hope, like us, you found the days beneficial.

The day should have given you a clear understanding of our National Firm vision and strategy as we understand it today. As I mentioned, there is a lot of work to do to put the “meat on the bones of our skeleton”. Thank you to those advisers who have expressed an interest in getting further involved and working with the sub-committees I referred to.

We are transitioning from being a “licensee for hire” to being an advice firm operating as a collective of aligned businesses. Partnership and co-creating are at the core of this model, so it’s good to see these values come alive in practice.

The Q&A sessions at Adviser Days were invaluable in helping us understand your concerns as well as identifying areas where you need more information. We will collate all of the questions asked and endeavour to answer these in the coming months, as we continue to populate and flesh out the National Firm Charter.

During my session, I talked about the “Power of Community” and the great community we have was very evident to me. In every state with no exceptions, the community is tight and thriving. This is something worth fiercely protecting. I sensed this is a non-negotiable for a lot of you, as it is for us, in building the National Firm.

Indeed, community along with businesses built on Lead Adviser principles is what makes our group stand apart from other advice firms in the market. As I mentioned at Adviser Days, we are looking to re-ignite our Lead Adviser training so watch this space!

Introducing Coco

Talking community, we are pleased to announce the launch of “Coco” – FPW’s new Community Collaboration chat room. Coco is a Microsoft Teams based chat room designed for advisers and support staff to tap into the collective wisdom of the FPW Advice Community. It enables you to share and shape new ideas with each other and ask those questions that you know someone in the community must be able to answer.

Your invitation to join Coco will be emailed to you within the next two weeks. Please look out for it as it’s not a phishing test and might otherwise end up in your junk folder.

Register for our Japan Conference

Please don’t forget that registration for our Japan Conference is open. As you know, it is an amazing opportunity for us to come together, not only to learn and develop, but also to have fun.

Finally, did someone mention Easter…? I hope you get to enjoy some down time with your families away from the office and re-charge those batteries. It has been a very busy start to an exciting 2023.

Technical & Compliance

Relaunch of FPW Cyber Security Policy

Keeping our client’s personal information and our businesses safe from cyber criminals has never been more important than right now.

We are pleased to announce the launch of the refreshed Cyber Security Policy as announced at the recent Adviser Days. Our focus for this policy is to present information in a way that is easily understood and makes sense, segmenting requirements for the different audiences i.e. users, business owners and it technicians.

To support this, we have also:
• Provided greater clarity of what components of the requirements Fitz Group IT takes responsibility for if you use the Fitzpatricks infrastructure.
• Provided lists of helpful information to support your search for suitable products or services to incorporate in your network (password managers, email filtering, anti-virus, firewalls, cloud storage and our recommended Cyber Insurance Broker).
• We will provide a list of all cyber requirements so that if you wished, you could give this to your IT professional and have them take care of all the technical requirements to give you peace of mind.

Whilst most policy settings remain largely unchanged, many have been enhanced and with more clarity around what these requirements are, you should refresh yourself (and all the people in your business) on the entire policy. There are a couple of new items you should be aware of.

These are:
• Your Cyber Incident Response Plan must be in place by 1st July 2023 in line with the completion of your Business Continuity Plan.
• Personal information emailed to clients and others external to the Fitzpatricks environment (with some exceptions) will need to be encrypted. This control recognises the inherent risk of email and its vulnerability in today’s environment. The good news is that we have a client portal through which we can share this information in an efficient, practical manner. We understand how challenging this type of change is so have given you till 1st July 2023 to settle your thinking and processes. Please do not wait to start to understand and apply this process.

Please take the time to read through the policy and supporting materials which can be found here: Cyber Security. If you have any questions or concerns, please contact Professional Standards.

Email: [email protected]
Phone: 07 3105 6530

Technology & Operations

Introducing FPW’s new advice community collaboration platform

Based on overwhelming demand from you, the Fitzpatricks advice community, we’d like to introduce you to Coco – FPW’s new Community Collaboration chat room.

Coco is a Microsoft Teams based chat room designed for advisers and support staff to tap into the collective wisdom of the FPW Advice Community. It enables you to share and shape new ideas with each other and ask those questions that you know someone in the community must be able to answer.

Your invitation to join Coco will be emailed to you within the next two weeks. Please look out for it as it’s not a phishing test and might otherwise end up in your junk folder.

A few things to be aware of:
1. All the usual rules about appropriate and respectful language apply.
2. Any requests or questions to the FPW team should go through the usual channels.
3. Coco is only available to advisers and support staff in the FPW Advice Community.
4. If you don’t want to be subscribed to Coco, please just send an opt-out reply to your email invitation to Caroline at [email protected].

As always, your feedback and ideas on how we use and improve this new capability are welcome. Just tell Coco! She can’t wait to hear from you!

Xplan Client Portal Webinar

Thank you to those of you who attended the Xplan Client Portal webinar. Hope you found it beneficial. For those of you who missed the webinar, please click here to access the recording. We will be sending out a survey shortly along with the responses to the questions that were raised during the webinar.

As background, the FPW Adviser Cyber Policy has recently been updated to require documents containing confidential or personal information to be encrypted before sending to clients and third parties or alternatively, shared with them using a trusted file share portal.

Recognising the existing policy requirement to have all client documents stored in Xplan in a readable format, i.e., not encrypted, the Xplan Client Portal will not only allow you to better protect your clients data but should be more efficient for you as you won’t need to load client documents multiple times in multiple places.

The Xplan Client Portal was selected by the members of our community on the Client Portal Working Group as the preferred solution. This portal will be launched this Friday 31st March 2023.

Please contact Siva Mehta ([email protected]) if you have any further queries in relation to this.

Xplan Client Portal relaunched on Friday 31st March

Fitzpatricks’ Xplan Client Portal is being relaunched on Friday 31st March. There are also some changes being made to the Client Portal that will improve data security for both existing and new users (clients).

Minimum Password requirements are being implemented and will be mandated by Monday 17th April 2023

To improve the security of your clients’ data, we are changing the minimum requirements for their Xplan Client Portal passwords in the coming weeks. To assist with this process, we will provide you with a template of suggested wording that you can use to communicate these changes with your clients. This template will outline the importance of these changes and will emphasise that your clients make these changes as soon as possible and preferably implement these requirements when they next login or are being setup for the first time.

Password strength changes

With the computing power available to bad actors today, a short simple password is not enough to protect your clients account and data. The table below gives you an indication of how long it would take a hacker to brute force (entering many passwords or passphrases in the hope of eventually guessing correctly)

As you can see, using an 8-character password (even with Numbers, Upper and Lowercase Letters, and Symbols) will only take 39 minutes to break!

To combat this, we are updating our Xplan password requirements to the following:

Password minimum length: 12
Password History: The last 2 passwords are remembered
Password Age: 180 days (you will be asked to change twice a year)

Two-factor authentication

From Monday 17th April 2023, the Fitzpatricks Xplan Client Portal will be updated to make 2FA (Two-Factor Authentication) mandatory for all clients. Please notify your clients that are currently subscribed to the Xplan Client portal of this change.

XPLAN Two-factor authentication (2FA) is a security protocol that uses two stages to verify the identity of a client to access their XPLAN Client Portal. It not only provides a valuable layer of protection to prevent unauthorised access but is also aligned to Fitzpatricks policy of not sharing passwords, i.e. 2FA can’t be implemented with two alternative authentication methods.

When a client attempts to log in to their XPLAN Client Portal with two-factor authentication, they will require their XPLAN Client Portal password and a second form of authentication. This prevents unauthorised access via compromised passwords. When a client enters their username and password to access the portal, a unique code is provided to the client using a predetermined method (email verification code OR SMS verification code). This code must be entered to complete the login process.

Business Coaching & Training

Virtual Adviser & Support Technical Day

Coming up on 5th April we have our Virtual Adviser & Support Technical Day. This day will be made up of four separate sessions. To attend, please register for each session separately with their own registration link. Click here for all the registration links.

Best of Breed Brochure

To help you get to know your FPW Best of Breed team, how they support you, and how you can contact them, we’ve created the Best of Breed brochure available on the Adviser Portal. We hope you both enjoy it and find it useful.

Adviser Services

FPW Policy Questionnaire

As previously communicated, we ask that all advisers complete the mandatory questionaries relating to our Incidents & Breaches and Complaints policy which has been refreshed and is to be released in April. The Kaplan Corporate Content (assessment) will be open from 11th of April and is due for completion by 28th of April. CPD points will be awarded.

FPW Webinars

Please register to our upcoming FPW webinars:

DateTimeTopic/PresenterRegistration Link
Wednesday 25th October1:00pm QLD
1:30pm SA
11:00am WA
Professional StandardsRegister here


There are no updates for March


There are no updates for March


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