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Financial Modelling for Gen Y Clients

Financial Modelling for Gen Y Clients

Prashant Nagarajan and Ross Marais
Adviser and Coach at More Time Financial
Prashant Nagarajan and Ross Marais
Adviser and Coach at More Time Financial

Financial Modelling for Gen Y Clients

Massive thank you to XY Advisers (and legends) Prashant Nagarajan and ROSS MARAIS for jumping on as two of our awesome guests for this week’s web event. Both advisers took us ‘backstage’ to show us how they do their financial modelling and why they put their clients in the driver’s seat to really engage them in the process.

Plenty of XY’ers got involved in the chat box and threw out some great questions along the way which made for a fun and insightful virtual hands-on workshop.

On a side note – I missed a couple of questions in the comments section of the live-stream from those who were tuning in via mobile. I will make sure I keep my eye on the comments box AND the chat box for sessions going forward 👊

The nutshell version of this session goes a little like this (but highly recommend watching the replay if this topic is of interest) –

Prashant shared his screen and walked us through his modelling process using Optimo. He ran an example client scenario through the software and explained why he doesn’t input the data into the software in front of clients. Once he produces the various scenarios, he then uses the time he spends with his clients to show them the Optimo outputs, while putting them in the driver’s seat to adjust the parameters and see what impact said adjustments have on the client’s future financial position.

Compared to his previous financial modelling software, Prashant said he can now complete the modelling component of his client work in a 1/3 of the time (woah!), free-ing him up to spend more time with his clients, and reducing part of the labour cost to provide advice #winning.

According to Prashant, Optimo costs about $100 per client case. He did send me this link which I believe you can use to create your first user case for free and road test the tech – https://app.optimopathfinder.com.au/Account/Register?grsf=zx4fyt 

You can connect with Prashant on XY HERE, or visit his website Finnacle Financial.

And here’s the XY Podcast episode with Prashant talking about his ‘netflix style’ subscription model.

Ross took us through his modelling process using Astute Wheel. After sending out an initial fact find using MyProsperity and inputting some/most of the initial data into AW, Ross then uses the virtual meeting time he has with his clients to walk them through their modelling scenarios and projections. Doing this has really helped Ross in the education department, where he can tangibly show the outcomes of certain decisions and explain the why and the what of superannuation, investing vs sitting in cash, compounding interest (and the list goes on… )

Ross took us through an example client scenario in a similar fashion to how he would conduct this meeting with his own client. While there wasn’t enough time to really explore the ins and outs of Astute Wheel, he still touched on plenty and gave us a really good insight into what’s possible. According to Ross, Astute Wheel costs about $350/month (check it out HERE).

You can connect with Ross on XY HERE, or visit his website More Time Financial.

8 months ago

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Massive thank you to XY Advisers (and legends) Prashant Nagarajan and ROSS MARAIS for jumping on as two of our awesome guests for this week’s web event. Both advisers took us ‘backstage’ to show us how they do their financial modelling and why they put their clients in the driver’s seat to really engage them in the process.

Plenty of XY’ers got involved in the chat box and threw out some great questions along the way which made for a fun and insightful virtual hands-on workshop.

On a side note – I missed a couple of questions in the comments section of the live-stream from those who were tuning in via mobile. I will make sure I keep my eye on the comments box AND the chat box for sessions going forward 👊

The nutshell version of this session goes a little like this (but highly recommend watching the replay if this topic is of interest) –

Prashant shared his screen and walked us through his modelling process using Optimo. He ran an example client scenario through the software and explained why he doesn’t input the data into the software in front of clients. Once he produces the various scenarios, he then uses the time he spends with his clients to show them the Optimo outputs, while putting them in the driver’s seat to adjust the parameters and see what impact said adjustments have on the client’s future financial position.

Compared to his previous financial modelling software, Prashant said he can now complete the modelling component of his client work in a 1/3 of the time (woah!), free-ing him up to spend more time with his clients, and reducing part of the labour cost to provide advice #winning.

According to Prashant, Optimo costs about $100 per client case. He did send me this link which I believe you can use to create your first user case for free and road test the tech – https://app.optimopathfinder.com.au/Account/Register?grsf=zx4fyt 

You can connect with Prashant on XY HERE, or visit his website Finnacle Financial.

And here’s the XY Podcast episode with Prashant talking about his ‘netflix style’ subscription model.

Ross took us through his modelling process using Astute Wheel. After sending out an initial fact find using MyProsperity and inputting some/most of the initial data into AW, Ross then uses the virtual meeting time he has with his clients to walk them through their modelling scenarios and projections. Doing this has really helped Ross in the education department, where he can tangibly show the outcomes of certain decisions and explain the why and the what of superannuation, investing vs sitting in cash, compounding interest (and the list goes on… )

Ross took us through an example client scenario in a similar fashion to how he would conduct this meeting with his own client. While there wasn’t enough time to really explore the ins and outs of Astute Wheel, he still touched on plenty and gave us a really good insight into what’s possible. According to Ross, Astute Wheel costs about $350/month (check it out HERE).

You can connect with Ross on XY HERE, or visit his website More Time Financial.