by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Forward Thinking Magazine : August 2010
26 Macquarie Adviser Services “A by-product of having a more diversified client base is that it increases the range of products you are able to offer. For example, accumulator clients will have a natural bias towards mortgage and risk products, which allows advisory practices to diversify their income sources away from more traditional products such as super and managed funds,” says McCarthy, who adds, “These products are also not tied to market movements, which is another important benefit they deliver.” Excellent operational efficiency Of course, running a leading advisory business is not just about great personal relationships with clients. It is also about building processes into the business that support these relationships. This means investing in leading practice management software to give the business the right information to be able to properly segment the client base. Sarah Abood, Chief Executive Officer of Profile Financial Services, is passionate about the way technology has made the business more efficient and productive. “Several years ago we moved to a paperless office and took steps to automate workflow. By making our back office more efficient we’ve been able to improve our service levels and make face-to-face time with clients more effective,” says Abood. “The technology allows us to store all client information in the one place. It means anyone in the practice who needs to can see a client’s entire history and records,” she says. The system also supports the business’s commitment to flexible workplace practices. “Because data is stored centrally, information can be accessed from anywhere that has an internet connection, which is great if planners need to get into the system from home or while travelling.” “It is also great from a management perspective. We can instantly see how many annual reviews are outstanding, how long it takes to put together a statement of advice and identify and fix bottlenecks easily.” Abood says it also gives the business a great understanding of the demographics of the client base. “We can also implement investment opportunities very quickly or find out how many clients we have in a particular fund or with a certain asset allocation, which allows us to deliver a better service more efficiently.” The business is also increasingly using Skype for internal meetings and to communicate with clients, especially retirees who might be travelling around the country. “It is much more effective than talking Sarah Abood, CEO, Profile Financial Services