Clients simply don’t find financial planning “sexy”, and it’s vital to focus your efforts on client engagement if you want your business to thrive in the post-FoFA world.
These are the thoughts of AstuteWheel director Hans Egger, who claims that the financial planning industry faces something of an image problem.
“Let’s face it: most people do not find financial planning sexy. It can sometimes be a bewildering and confusing process, leaving clients and prospective clients feeling overwhelmed,” he said. “If we want people to more than just accept that they need a financial plan – if we want them to fully engage with the process on both an initial and ongoing basis – then we need a process and tools which are designed from the client’s perspective.”
Speaking at the launch of the Astute Client Engagement Platform, he added that employing consistent processes and methodologies from first contact through to ongoing review is the key to driving business efficiencies and improving compliance.
“Having a clearly articulated value proposition, and a review process which clients understand and value, will help financial planning practices thrive under the FoFA environment,” he said.
Published by Wealth Professional Magazine.
