The benefits of using professional financial planning software do not stop at the suite of 20+ modelling calculators, client education, information gathering and marketing tools. Astute Wheel Financial Planning Software will help streamline your practice.
The 5 minute financial health check allows your clients to easily self diagnose where they believe they need assistance and where they believe they don’t . This comprehensive report is delivered to you prior to the meeting.
By exploring the six areas of financial services during the meeting you can then confirm with the client what will be “in scope” for your subsequent Statement of Advice.
The demand for quality financial planning has never been stronger. The initial meeting presentation allows you to explain the depth and breadth of your service offering in a logical and visual way in the context of a structured methodology.
Once you have set the client’s expectations you can now exceed those with a suite of powerful yet simple modelling and education tools allowing you to explain complex ideas and strategies in a highly visual and easy to understand way.
Your client now understands that your service offering is comprehensive across all six interrelated areas of financial planning and over time inevitable changes in legislation, market conditions and their own personal circumstances will require constant revision of their strategies.
Your client will value this ongoing service as they realise you have the methodology, tools and understanding to identify potential opportunities and threats and you are able to constantly adjust their strategies to achieve their goals. The review will become so much more than just the performance of their investment portfolio.
All your advisers will engage with their clients following the same comprehensive methodology and articulating the same clear and consistent message. Importantly though, you will provide tailored outcomes for each of your clients as your process is one that enables you to apply each client’s unique situation to explore a range of possible outcomes.
Your new corporatised model will provide a highly professional, consistent and valuable experience for your clients every time and at each touch point resulting in higher retention and more referrals.
Your initial meeting process is now as simple as sending an email and is delivered to your prospect immediately. They receive a warm welcome, an explanation of what to expect and some homework to complete and return prior to the initial meeting
Your first meeting is structured and your modelling and education tools allow you to explore multiple strategies and scenarios and broadly agree to those that suit your clients’ circumstances.
To brief your paraplanner your file notes are simply the calculator printouts with a short note on each page confirming what is required.
You will have a presentation to showcase to your centres of influence your new comprehensive and consistent methodology that will ensure their referrals receive a professional and valuable client experience every time.
Being able to clearly articulate and easily show your client value proposition you will be able to confidently ask for the kind of client referrals that will grow your business successfully.
Clearly articulate your value proposition and the depth and breadth of your advice offering in a way that clients understand and appreciate
Use modelling and educational tools with great visuals to explain complex strategies in simple terms
Involve the client in the process by modelling their individual circumstances in each strategy discussion and explore various outcomes instantly
Show clients the value of a robust and comprehensive review process that will continuously analyse and explore their strategy decisions in a constantly changing environment.
Your business will be able to show improved compliance in many ways:
The Wheel presentation offers a simple yet effective pricing mechanism.
For the initial meeting we begin by explaining to our potential clients the six areas of the Wheel and how we will explore their personal circumstances in each area and determine if we can add value by improving their position.
Then we use the strategy modelling calculators to analyse and determine where we can add the most value, using the potential client’s own information and exploring various options. At the end of the meeting we have a clear understanding of what is required and the client has seen first hand what a difference our advice can make.
We then go back to the Wheel and prioritise and price each segment of the Wheel according to how much work is required. This becomes your plan fee to commence work.
For ongoing advice service fees we again use the wheel to show how at each review meeting we can use our structured approach and modelling calculators to identify threats and opportunities to our client’s plan by incorporating changes in the client’s circumstances, market conditions and legislation.
The emphasis for review meetings then becomes far more about the exploration of strategies where you can add real value rather than about market performance.
To survive…and thrive in the proposed FoFA environment will require three main platforms in your Financial Planning practice:
A clearly articulated value proposition – delivered consistently and with confidence across your entire business and to every client or prospective client. You have to know that your CVP is of value and that your clients and prospects will see the value.
A thorough and efficient process – that your clients appreciate, understand and genuinely value and will return to continuously. This needs to be highly tailored to the individual client’s circumstances, be complex in that you explore and analyse your client’s needs thoroughly and yet present that information in simple terms that your clients can understand and use to make informed decisions.
An ability to leverage your superior service offering – in a post FoFA environment that many practices will struggle to operate in, you will need a process to send a loud clear message to your centres of influence and your existing clients that your service offering is superior and that they should refer their colleagues and friends to your business.
A client review process that your clients understand and value, which will have them opting-in and attending their review meetings.
Rather than trying to justify your current fees you will be in a position to show them the ongoing benefits of being your client and implement a fee for service model that may increase your fee per client.
A client engagement process that allows you to quickly and efficiently apply your client’s circumstances to a range of strategy modelling tools and provides an audit trail to show that your clients best interest is at the heart of everything you do.
A diagnosis tool that allow your clients to determine what advice they require and an initial meeting process that allows you to confirm or up-sell from this base. You will clearly identify the scope of your advice and be able to charge accordingly.
The only tool that will help you, the financial planner, show the value the client can gain from using your services” Odile (Brisbane)
The best client client engagement tool in the business. Love it!” Pete (Sydney)
Great tool to position the various ways in which you can assist them address all their various financial issues”. Andrew (Sydney)
One of the best tools you could use to differentiate your services from other planners and capture more of your client’s wallet”. Greg (Sydney)
A game changer”. Sue (Echuca)
A solution that enhances client engagement while providing end-to-end strategies for complete wealth management. Barry (Brisbane)
A tool to explain financial planning concepts to help clients understand our value”. Todd
A simple but comprehensive tool to assist both advisers and clients address their concerns and develop appropriate strategies”. Murray
A good client engagement tool that gets clients more engaged and feel they have got value out of meeting you and helps them make informed decisions to work with you”. Stan (Melbourne)
A structured way of explaining what financial planning is; a way to visually demonstrate the value of financial planning”. Provides a structure and helps sell wealth management instead of product” Peter (Melbourne)
The tool that licensees don’t provide, but should!” Paul
Absolutely necessity if you are serious about having consistent process and wish to save time upfront with customers”. Rob
Provides an understanding to the client as to what we do in both a conceptual and practical sense”. Doug (Brisbane)
AstuteWheel is a business application that allows me to more deeply engage my clients and more effectively present strategies, and prove that I have a comprehensive, systematized financial planning process”. Larry (Brisbane)
I can’t tell you how impressed I am with this whole system, even at first glance. You guys have done a brilliant job at something this industry completely fails at, being client engagement. It’s just exactly what I need”. Lloyd
Excellent client engagement tool that you use to immediately demonstrate the impact of strategies”. Henniette (Sydney)
Fantastic way to get clients interested in, and engaged in, the financial advice process”. Matt (Melbourne)
To my competitors…. :- ( To my team…. :- ) Grant (Brisbane)
Practical efficiency meets…. Professional engagement… meets smoother sales process earlier in new client process”. Andrew (Cairns)