Quickly update goals progress and modelling for efficient preparation of review documents.
Clients are tasked to update their information on the secure client portal in anticipation of the review meeting.
The review meeting document can be prepared quickly and includes changes to the client’s personal and financial information and any updates or changes to their goals and any other concerns they may have.
The previous year’s cashflow calculator can then be updated to show the client how they are tracking with their financial plan and their goals. If major changes are identified, the paraplanner can update the modelling for an SOA, or if there no/small changes then an ROA.
The 5 Minute Financial Health Check asks a number of thought provoking questions across the six areas of advice, different questions are asked for an accumulator v retiree.
Clients get a better understanding of the breadth of the advisers’ service offering and often identify new areas of concern that they now want to discuss.
Advisers now have an agenda for the meeting based on the clients’ priorities and a work scoping document as advised by the client.
First we determine across each of the six areas of advice what will be In-Scope or not. This is determined by the client’s self-rated 5 Minute Financial Health Check score and any relevant goals from the Goals Tool (both are auto linked to the wizard).
The Scale Of Advice is then determined with the client and any matters not addressed are discussed with the client to confirm they understand the implications of their decisions. Drop down options and adviser notes are used to simplify this process and personalise for the client.
A comprehensive Scope of Advice Report is then generated and signed by the client, this provides a compliant file note as required by ASIC and becomes the basis for a letter of engagement.
AstuteWheel is Australia’s leading client engagement software providing financial planners with financial modelling calculators, online questionnaires, educational videos and presentation tools to help clients understand your value proposition. ... Read more
