© 2019 Kick Consulting

Sydney, Australia.

  • White LinkedIn Icon
  • White Facebook Icon
  • Elena Korolkova

3 processes to automate and increase efficiency in your financial planning business

Updated: Mar 31, 2019



In the post-royal commission world, with more compliance requirements than ever and revenues being at questions, we all are feeling a little bit overwhelmed. However, with larger wealth management arms sold by banks, many clients are using this opportunity to find a new adviser.


Can your business in its current state cope with getting an influx of new leads and compete with robo-adviser, while dealing with all the extra compliance tick boxes?

It is imperative for wealth management business to streamline their advice processes and back office, become more efficient and reduce their operational slack to survive! After all, if robo advice can do you, you can!


Here are 3 ways you can automate business processes and advice in your financial planning practice to reduce operational costs, increase you and your staff’s capacity and improve your relationship with your clients!


1. Meeting scheduling.


What happens when your clients are due for their review? Does your staff go through client lists and spreadsheets to contact them one by one? Or do you do it all yourself?

Why not use one of the Client Relationship Management (CRM) programs out there to automate the back and forth meeting scheduling? There are solutions like Practifi or even XPLAN itself integrate with marketing platforms (like Campaign monitor or Mailchimp. You can create a workflow and automate all the manual steps you and your staff do. Once the client is due for their review, they will receive an automated email, inviting them in for annual progress meeting and even give them a link to your calendar to book themselves in. Moreover, if they are procrastinating, they will continue to receive follow-up emails and reminders to come and see you. Abracadabra!




2. Social Media and Efficiency


If you are active on social media or would like to be, now is the time to do it! With social media post scheduling tools like Hootsuite, you can consolidate your efforts and do all your weekly or monthly posts in one sitting.


Save the articles you find interesting using Pocket and then schedule them to be posted on your social media channels through Hootsuite. You can use the free version, so the only real cost is your time.


3. Meeting preparation


Do your clients prepare for the meeting just like you do, or do you still do all the fact-finding in your meetings? Instead of spending most of the valuable one-on-one time filling out forms, you can ask your clients to chip in on the workload by either asking them to fill out the initial questionnaire or to review the information you already have on file.


This will increase the quality of time you spend with them in the meeting and give you a little heads up o what to expect.


You can automate this step by including it in your “Meeting scheduling” workflow from step 1. Meeting appointment will kick off the next step in your workflow sequence, which will send the new or reverse fact find to the client. Just make sure all client information is up-to-date 🙂 , so you are not sending out a half complete paperwork.


What to do next…?  


All of the above will dramatically increase your efficiency and get your business working smother than before. Getting the software is only half of the solution; execution is everything. This is where you embark on a journey of integrating it into your business efficiently (yes, that will take time out of your day).


An experienced practice manager or Virtual COO could help. They will analyse your current process, understand what you want to achieve, propose the best solution to solve your pains and integrate it from start to finish, while also training your staff. You won't have to lift a finger.


Schedule your complimentary "30-minute Efficiency Breakthrough Session" with us to unlock automation opportunities like this for you and your business.