One of the inspirations for this blog came from the many conversations I have with advisers everyday and the challenges advisers face in operating a profitable business, finding enough time in the day, and staying within regulatory guidelines that seem to always be changing.
We have been able to help many clients overcome these challenges so this blog is a way of sharing those ideas and solutions with others.
One example of this was Peter A. Sudlow, Principal of Sapienter Wealth Management who came to us wanting to streamline his bi-annual review process. It normally took him the better part of a month to gather all the statements, do all the calculations and produce the client reports.
We managed to help Peter import his clients’ past transactions from the platform into the Adviser Workstation. Once imported, he had the full suite of analytical and performance reporting tools at his disposal. Some quick construction of performance report templates in the system and he’s able to produce better quality reports in less than half the time.
His next time bi-annual review period is likely to be even quicker as he works out the best way to implement this new process. So with a little investment in time our client has been able to add significant value for his clients in terms of the quality of reports provided and he has freed up more of his time to spend with those clients or perhaps potential clients.
If you are in need of a more efficient process or a way to justify fees to clients it may take an investment of time to learn something new. Many advisers I speak with just can’t spare the time. But the ones that have found an hour here or an hour there to learn something new or to implement a new process, they have quickly seen the return on their investment.
Over the next 5 weeks I will be sharing more examples like the one above. Hopefully you can benefit from them. Hopefully they spark some of your own ideas. If you have any to share, please do. If you’re looking for help, please let us know!