Today, financial advice clients can access all sorts of products, online platforms and investment solutions themselves. Good prompt service and administration regarding their affairs is a minimum expectation, but increasingly it is not a competitive value-add.
Smart financial advisers are realising that the most important decisions they need to make are about how to allocate their time where it will add most value for clients and their business, as well as enable them to balance their personal lives and enjoy themselves.
It's not just about the amount of time, it's about minimising unproductive time - so it doesn't drain your energy and distract your attention from the important things you should be doing.
Your clients are paying for the relationship you have with them, your understanding of them and their circumstances, and the advice and guidance you provide them.
So there is no point spending all your time and energy focused on the paperwork – particularly as our industry moves towards a client-centric advice model focused on goals-based advice and ongoing guidance for clients' financial wellbeing.
We all outsource many things in our personal and working lives from household products and car maintenance to software development and telecommunications. Applying the same philosophy to your professional life can help you focus on your real value – the advice relationship.
Advisers have long been at the forefront of outsourcing and using technology solutions to service their client needs. Now, you can have the peace of mind of partnering with trusted experts who have done all the due diligence for you.
Want to get a better understanding of the potential savings your advice firm could make by outsourcing some of your core activities? Use our online savings calculator and find out now.
It's part of our FREE outsourcing info pack - complete with eBook, on-demand webinar and savings calculator.