AdviserNETgain automates practice management
Wayne Wilson
Asgard Wealth Solutions has developed a new automated business support tool to help financial planners manage their practices more efficiently, which in turn will allow them to devote more time to focus on the provision of advice to their clients.
The new resource, known as adviserNETgain, was developed over the past 12 months from a practice perspective as opposed to a platform, consumer or financial planning perspective.
“There’s no doubt the financial planning practice is the hub of the provision of financial advice in Australia. The financial planners themselves often think financial planning is the hub, but it is the total practice that drives the most productive outcomes for financial planning practices,” Asgard director, sales and distribution, Wayne Wilson said.
According to Wilson, the factors adviserNETgain has tried to focus on include capability, productivity, time saving and simplicity of use.
In particular, the financial services firm has been mindful of building a substantial amount of flexibility into the business tool.
“We’ve designed the facility around the most productive order in which to run a financial planning transaction based on the research we’ve done with planners. That is, from finding a client through to servicing that client, and the same with running a report or running a new transaction for a client,” Wilson said.
“Having said that, we can give an adviser practice quite a degree of flexibility to change that order of events if they want to do things differently,” he explained.
The first component of the new product will initially be made available for advisers to use at the end of November, with further tranches to be rolled out over the following 18 months.
“Initially, the kinds of things we are looking to deliver are workflow management and an open client reporting system with the capability to report over multiple platforms and multiple products,” Wilson said.
“We also want to provide a client management system that is at the hub, which will mean that it’s single data entry, so you’ll only ever have to enter information about a client or a prospect into this system once, and this information can be used to drive numerous outcomes,” Wilson added.
Financial planning practices looking to adopt adviserNETgain will be able to do so at their own pace. The system will allow them to run parallel environments for a transitionary period until they are comfortable to begin using the tool on a fulltime basis.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
