Practical recommendations to optimise advisor productivity

Client:

Our client is a leading Australian fund manager specializing in exchange traded funds (ETFs). The firm manages over $35 billion in assets across more than 90 funds, serving over one million investors and financial advisors. They offer a diverse range of ETFs, providing exposure to various asset classes and sectors, including Australian and international equities, bonds, commodities, and ethical investments. Their mission is to make investing accessible, affordable, and transparent, catering to both novice and experienced investors.

The Problem:

Financial planners are increasingly time-poor, struggling to balance their extensive workload with the demands of client service. This issue is exacerbated by their reliance on multiple, often disparate, tools to perform their roles effectively. The administrative burden associated with managing these tools significantly detracts from the time they can dedicate to directly serving clients, ultimately hindering their ability to provide personalised and attentive financial planning services. Our objective was to introduce methods to better leverage data and analytics using current tools to alleviate efficiency problems by providing techniques and actionable insights financial planners can utilise to optimise their productivity and enhance client service.

The Solution:

Firstly, through meetings with over 15 advisors deep-diving on their challenges, a report and series of videos helping to educate advisors on how to maximise their software usage in terms of functions and features. The existing technology is at the heart of our solution, ensuring no new technological burden is put before advisors, Secondly, developing a simple client-value tool that integrated with their software, enabling advisors to start generating valuable new insights into their client portfolio. The client-value tool solution allows advisors to take a more granular look at their portfolio, focusing on time spent serving clients across key demographic data points to analyse overall portfolio performance. These insights enable advisors to focus on clients that will maximise value for less effort.

Next Steps:

The development of the client-value tool could be expanded to include greater functionality whilst remaining intuitive and easy-to-use. Longer-term, Pentify Insights plans to continue our partnership with our client and their network of advisors, focusing on creating value through effective strategies and deployment of data and analytic capabilities.