Blue Chip Issue 89
Blue Chip Journal – The official publication of FPI. Blue Chip is a quarterly journal for the financial planning industry and is the official publication of the Financial Planning Institute of Southern Africa NPC (FPI), effective from the January 2020 edition. Blue Chip publishes contributions from FPI and other leading industry figures, covering all aspects of the financial planning industry.
Blue Chip Journal – The official publication of FPI. Blue Chip is a quarterly journal for the financial planning industry and is the official publication of the Financial Planning Institute of Southern Africa NPC (FPI), effective from the January 2020 edition. Blue Chip publishes contributions from FPI and other leading industry figures, covering all aspects of the financial planning industry.
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BLUE<br />
CHIP<br />
PRACTICE MANAGEMENT | Client service<br />
Elevating client service in wealth<br />
advisory: the Seed Analytics solution<br />
In the competitive world of wealth management, advisors often<br />
only have a few chances a year to prove their mettle – primarily<br />
during the annual review. Betting your practice’s success<br />
on these rare touch points is a risky strategy. This situation<br />
prompts the question: how can advisors differentiate themselves<br />
consistently throughout the year?<br />
The competitive landscape<br />
Wealth advisors must understand that they operate in a<br />
competitive market with rivalry. Clients are willing to jump ship<br />
at the slightest hint of better service elsewhere. This is why referrals<br />
are golden; they prove that one advisor can offer superior service.<br />
To stand out, advisors need to do two things:<br />
1. Provide value in every interaction.<br />
2. Increase the frequency of these value-added touch points.<br />
But herein lies the challenge. Consistently delivering these valuegenerating<br />
touch points absorbs considerable time – a resource<br />
better spent on growing the business and managing existing<br />
portfolios. Advisors often end up increasing their back-office staff<br />
to handle this load, inadvertently hiking operational costs.<br />
How can advisors differentiate<br />
themselves consistently<br />
throughout the year?<br />
The advantage<br />
The true solution to this dilemma is leveraging best-of-breed<br />
technology. Seed Analytics comes to the rescue by offering 12<br />
meaningful touch points in the form of monthly, white-labelled<br />
consolidated investment statements. These custom-branded<br />
statements not only keep<br />
clients updated on their<br />
investments but also<br />
elevate the advisor’s brand.<br />
When clients receive these<br />
statements, they associate<br />
the value they’ve just gained<br />
with their advisor, reinforcing<br />
loyalty and trust. Advisors<br />
can offer this service simply<br />
by hiring more back-office<br />
staff, but that would be<br />
expensive compared to<br />
Seed Analytics’ offering.<br />
Furthermore, the back-office<br />
approach increases business<br />
complexity. More staff<br />
demand more time from<br />
the advisor. The technologydriven<br />
approach Seed Analytics offers allows advisors to focus on<br />
what really matters – growing their client base and funds under<br />
management – while also providing an elevated level of service that<br />
sets them apart from the competition.<br />
Adopting Seed Analytics is not merely a way to provide a<br />
higher level of service; it is a strategic move to de-risk and scale<br />
the business. In a market where the difference between gaining<br />
and losing a client can be as simple as the frequency and quality of<br />
touch points, Seed Analytics offers a robust, cost-effective solution<br />
for advisors committed to excellence.<br />
Seed Analytics reduces advisor admin burden by producing<br />
white-labelled, monthly consolidated portfolio statements,<br />
rebalancing tools and book reports for wealth advisors. <br />
Find out more at www.seedanalytics.info<br />
Email: andries@seedanalytics.info<br />
Andries de Jongh, Senior Sales and<br />
Key Account Manager,<br />
Seeds Analytics<br />
64 www.bluechipdigital.co.za