logo

Expert help to automate your processes – Facilitated by Dean Holmes & Emily Blanch

Expert help to automate your processes – Facilitated by Dean Holmes & Emily Blanch

Dean Holmes
Director of The Wealth Network
Dean Holmes
Director of The Wealth Network

Expert help to automate your processes – Facilitated by Dean Holmes & Emily Blanch

Before the workshop, we sent out a survey to Financial Advisers on which processes would they like to be automated. Here are the results:

  • Fact-finding – 55%
  • Booking new client meetings – 45%
  • Workflows/Tasks & File Noting were an equal – 37%

So, in this workshop, Dean Holmes shares his insights on automating processes in different parts of your practice, particularly on the topics above.

Client Acquisition:

Dean suggests using your marketing efforts as a tool to help your clients self-select whether they are a good fit for your business. Think about your brand and who your ideal client is and translate that into your posts, your website content and any other media you put out there so you don’t waste your time meeting non-ideal clients.

Fact Find:

Dean’s best tip is to record video calls whenever you are speaking with your client over Zoom or even in-person to help you navigate through the information you need later on. This is also similar to what James Wortley shared during his XY+ Workshop: Run strategy scenarios

Review Process:

All clients really want to know is if their finances are ok and if they’re on track to achieve their goals. Dean suggests the goal of a review meeting should be to minimise the stuff that might distract you and the client from focusing on these two big questions. One idea was automating things like statements and reports to be sent to your clients at different points in time throughout the year.

Tech Stack Creep:

When thinking about creating efficiencies in your business, it’s easy to think about a process you want to automate and then pick and implement a tool or app to solve this. However, this can be a double-edged sword (known as ‘Tech Stack Creep’) which occurs when you identify the problem, you implement a technology solution and then afterwards, you realise it doesn’t have all the features you need so you implement another piece of tech to address what your first tech lacks and the cycle goes on forming a stack of tech at your disposal that does some things but doesn’t do everything well, or may not integrate with other technology.

Freeing up an adviser’s time:

The ultimate goal for an adviser is to spend less time on the back-office tasks required to deliver advice and spend more time with clients. To achieve this, you might immediately think – tech! Tech can be hugely beneficial here, but effective delegation to another person can be equally or (potentially) even better. Dean suggests working out whether you have a ‘people’ or a ‘process’ problem when facing a bottleneck in your business.

Dean suggested having four support staff for every Financial Adviser. This ratio can help a Financial Advice practice do a lot and acquire more clients than when a Financial Adviser does everything on their own with technology (which can quickly add up to a huge expense for a solo adviser practice!).

Reach out to Dean Holmes:

28/04/2022 ago

|

Category:

Management

Before the workshop, we sent out a survey to Financial Advisers on which processes would they like to be automated. Here are the results:

  • Fact-finding – 55%
  • Booking new client meetings – 45%
  • Workflows/Tasks & File Noting were an equal – 37%

So, in this workshop, Dean Holmes shares his insights on automating processes in different parts of your practice, particularly on the topics above.

Client Acquisition:

Dean suggests using your marketing efforts as a tool to help your clients self-select whether they are a good fit for your business. Think about your brand and who your ideal client is and translate that into your posts, your website content and any other media you put out there so you don’t waste your time meeting non-ideal clients.

Fact Find:

Dean’s best tip is to record video calls whenever you are speaking with your client over Zoom or even in-person to help you navigate through the information you need later on. This is also similar to what James Wortley shared during his XY+ Workshop: Run strategy scenarios

Review Process:

All clients really want to know is if their finances are ok and if they’re on track to achieve their goals. Dean suggests the goal of a review meeting should be to minimise the stuff that might distract you and the client from focusing on these two big questions. One idea was automating things like statements and reports to be sent to your clients at different points in time throughout the year.

Tech Stack Creep:

When thinking about creating efficiencies in your business, it’s easy to think about a process you want to automate and then pick and implement a tool or app to solve this. However, this can be a double-edged sword (known as ‘Tech Stack Creep’) which occurs when you identify the problem, you implement a technology solution and then afterwards, you realise it doesn’t have all the features you need so you implement another piece of tech to address what your first tech lacks and the cycle goes on forming a stack of tech at your disposal that does some things but doesn’t do everything well, or may not integrate with other technology.

Freeing up an adviser’s time:

The ultimate goal for an adviser is to spend less time on the back-office tasks required to deliver advice and spend more time with clients. To achieve this, you might immediately think – tech! Tech can be hugely beneficial here, but effective delegation to another person can be equally or (potentially) even better. Dean suggests working out whether you have a ‘people’ or a ‘process’ problem when facing a bottleneck in your business.

Dean suggested having four support staff for every Financial Adviser. This ratio can help a Financial Advice practice do a lot and acquire more clients than when a Financial Adviser does everything on their own with technology (which can quickly add up to a huge expense for a solo adviser practice!).

Reach out to Dean Holmes: