The Top 3 Tips Financial Advisers Are Using to Get More Done
When you work as a financial adviser, you know there are never enough hours in the day to get everything done. Whether you're having to push back meetings for some breathing room or restricting the number of clients you work with, time is at a premium - but there are some solutions you can try. If you want to get more out of each day or you'd like to become more efficient, these time-saving tips give you the edge you need for success:
Tip 1: Create a ‘not-to-do’ list
You may already have a ‘to-do’ list, but do you have a ‘not-to-do’ list? If you're swamped with work or find yourself pushing back work for clients time and time again, creating a list of the tasks that are holding you back is an excellent way to gain perspective. Start by listing out all of the responsibilities that are taking the most off your plate without delivering value to your clients. For instance, if you're wasting hours on administration, this cuts into the client-facing service you can offer to improve satisfaction.
Once you've created your ‘not-to-do’ list, you can think about how best to tackle those challenges. For many financial advisers, bringing in outsourced support services gives the time needed without the extra burden of hiring and training a new recruit. Heavy on admin? Consider outsourcing to a skilled administrator to save you hours of time. Need help with compliance? An IFA support specialist might lighten the load.
Tip 2: Embrace technology and automation
Technology is your best friend as a financial adviser. Many of the manual processes you need to deal with in your day-to-day work are tedious and time-consuming but can easily be cut down to size with the right software. One of the primary bottlenecks for many businesses is the time and processes used to get clients from one end of the workflow to the other. The better your technology, the more effortless your workflow will be.
Technology can be applied to many aspects of your business. For example, using an automation system for collecting data and documents can save plenty of time for day-to-day operations. Utilising specific financial advice software is also valuable, particularly if you're considering bringing in an outsourced paraplanner to collaborate with you on your services.
Tip 3: Documenting and processing
A well-documented business is a well-managed business. Beyond setting your own routine, creating specific processes and workflows for your business is an excellent way to squeeze more time out of each day. By having documented processes that flow through the business, from first contact with your client to delivery, it's far easier to reduce the time wasted on confusion and complications. The more streamlined your processes, the better for your business.
One of the most significant benefits of clearly documenting processes is having the foundations for growth. As your client base grows, a uniform approach to their processing makes getting everything done within pre-defined timelines easier. If you choose to outsource to a support service, your existing processes help them jump in, saving you time immediately by taking on tasks rather than learning on the fly.
Need help to get more done?
facilit8 can help you achieve your goal with outsourced financial advice support services. Speak to our team today to find out how we can help you save hours every day.