Atlas Outsourcing forms alliance with Morningstar

Atlas Outsourcing Pty Ltd is excited to announce its alliance with Morningstar Australasia Pty Limited, an Australian subsidiary of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research.

This arrangement enables Atlas Outsourcing Pty Ltd to gain access to Morningstar’s PayLogic software, a revenue reporting solution that will support Atlas Outsourcing Pty Ltd Licensees to support Licensee revenue processing utilising the PayLogic software.

As part of the arrangement with Morningstar, firms using Atlas Outsourcing Pty Ltd for back office revenue management support, may qualify for an introductory discount on PayLogic. This agreement continues to support the ongoing commitment to excellence and innovation underpinning all that Atlas Outsourcing Pty Ltd achieves.

Atlas Outsourcing Pty Ltd is a specialist Financial Planning Outsourcing Solution that teams with Financial Planners and Licensees. Atlas Outsourcing Pty Ltd provides Paraplanning & Back Office support capabilities.

About Morningstar Australasia Pty Limited and Morningstar, Inc.

Morningstar Australasia is a subsidiary of Morningstar, Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately USD $205 billion in assets under advisement and management as of June 30, 2020. The company has operations in 27 countries as of June 30, 2020. For more information, visit


Atlas Outsourcing today announced the appointment of Ms Soula Cargakis to the company Board. Ms Cargakis will hold the position of Non-Executive Board Member to commence on September 1st, 2020.

Ms Cargakis brings to Atlas Outsourcing over 30 years of experience in the wealth industry in multi-faceted roles subsequently developing a unique and extraordinary knowledge and multifarious skills sets across the diverse areas of the Australian Financial Advising sector.

Her extensive erudition is supported by her professional career association in a senior capacity with Australia’s leading community of financial advisers, Centrepoint Alliance, a nationally renowned entity in the Financial Advising Industry.

Ms Cargakis joins the existing multi-talented Board who have been responsible for bringing the organisation to the forefront in supporting the Australian Financial Advising sector and achieving significant advances in the company’s unique and contemporary approaches.

As the company continues to rapidly expand, Ms Cargakis will bring a skill set that will complement the company’s aims and objectives.

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Atlas Launches Onshore Paraplanning Services

Here at Atlas Outsourcing, as part of our commitment to excellence in all that we do and achieve, we are constantly reviewing our products and services to ensure we are not only contemporary, but also strongly aligned to the ever changing requirements and expectations of the Australian Financial Advising industry.

Atlas Outsourcing is pleased to announce the launch of an exciting new initiative, ‘Atlas Onshore Paraplanning Services’ to commence on the 15th of August 2020.

We believe this will not only complement our current offshore offerings, but also provide opportunities and alternative models for our clients. We understand as an adviser you may wish to make choices based on your own business model and client needs. To that end Atlas is now able to provide you with those choices, whether you utilise Atlas Outsourcing with its onshore paraplanning or offshore paraplanning options.

We are fully committed to provide Advisers outstanding quality options. With the launch of this innovative approach of our onshore offerings, Atlas will be one of the very few outsource providers in Australia that is able to provide you with the choice of paraplanning services to be conducted either onshore or offshore.

For any of our new or existing clients selecting our onshore offering, this will require all such requests to only be conducted to an Atlas Outsourcing onshore contact. This will mandate that all data therefore remains within Australia and your SOA is fully completed by an Australian paraplanner located here in Australia.

If you have any questions, I look forward to hearing from you and please visit our website for any further information or please contact me at for any enquiries.

Atlas Outsourcing is all about choices and excellence in all that we do.

Planners shy away from outsourced services

Mr. Cutrupi, who runs a Manila and Bangkok-based outsourced paraplanning service for Australian financial planners, said larger financial institutions providing advice have already moved down this path, but smaller planning groups have resisted the move.

“The big banks have been doing this for years and smaller practices have opportunities to reduce their costs and increase their productivity and savings,” he said.

“Even if a planner is aligned with an institution they are still running their own business and could consider outsourced services for their business.”

The Future of Financial Advice (FOFA) Reforms have highlighted the distinction between planning and paraplanning skill sets, according to Mr. Cutrupi, who said outsourced services would make planners more efficient at engaging in client-facing tasks.

“There are still bottlenecks in the creation of statements of advice which are causing delays for planners in providing advice to their clients, but outsourced services allow them to be turned around in a few days, without costing the adviser any of their own time,” Cutrupi said.

At present Cutrupi supplies paraplanning, statement of advice creation and risk insurance pre-assessment services to 35 boutique planning groups. He uses staff trained to Australian standards operating out of an office in Bangkok, and recently opened an office in Manila.

He said both offices are headed by Australian financial planners who have gained Certified Financial Planner status and oversee 12 staff operating from the two locations.

Mr. Cutrupi said the business was still growing even though it was not advertising for clients. He predicted the uncertainty around Fee Disclosure Statements and the requirements of FOFA would likely generate further business.

Wealthtrac Launches Admin Outsourcing Service​

Finance and investment administration provider Wealthtrac has launched a back-office administration service for boutique advisory firms.

The outsourced administration service was developed in conjunction with Jason Cutrupi of Atlas Outsourcing, who has established a back office for his own planning business in Thailand.