I have met with many practices over the last two months and learnt a lot about how advisers produce their advice documents. To nobody’s surprise, in-house paraplanning is a key source of advice production for many businesses.
Whenever I heard this response, I would often think “fair enough, they don’t really need our help”, run the meeting as planned, update our CRM and move on. As with all things in life, you learn from these experiences, and the more you learn, the more opportunity you see.
Over the past few weeks however, I have paused to think about whether this is what our role is limited to. Having an in-house paraplanning operation is a great option, but what happens when you are busy?
SoAs in production are wonderful because it means that you have a steady flow of work – but they can also become a liability if you are taking weeks to get them through to your client. We live in a super connected world, and the client you just pitched to has probably walked out and seen three social media posts from other financial planners (thank Google as SEO and searches drive this!). The longer they wait for you to get back, the more they see, and your pipeline can become a pipe dream.
To put things into perspective, a paraplanner only has around 38 hours in a week to get through their workflows. On top of this, no one wants to go through the messy process of hiring and training during busy periods – it’s counterproductive and takes time away from what’s really important. So, what do you do? You roll the dice; cross your fingers and hope everything gets completed on time.
There is another way – you can use our team to effectively supercharge yours. We are a ready-to-go solution for times of high volumes and can deliver your advice in a matter of days, instead of the typical 3-4 weeks if you were to do this in-house. A simple chat with us can help you avoid the hassle of finding the right person and training them during extremely busy periods.
We have completed detailed analyses of our paraplanners’ output to ensure our delivery standards and guarantee our turnaround times. We can provide a team to support your paraplanner, clear your backlog, protect the relationship you have built, and clear the revenue that is locked up in that pipeline. Not to mention the peace of mind that you will have knowing that you are on top of your workflows.
If you would like to discuss how we can make this work for you, feel free to book a time (https://www.planlogic.com.au/schedule-a-meeting/) or just shoot me an email (firstname.lastname@example.org) and let’s look at how we can help you!