Magnitude makes planning practice marketing easy
Magnitude Financial Planning, the dealer group owned by BT Financial Group, has launched a new computer-based application that will automate the marketing process for advisory practices operating under its banner.
The ‘wizard-based’ tool has been developed by the dealer group itself and is called Magnitude Marketing Director.
“The application starts on the basis that the industry is very cottage and still at a practice level … and one of the challenges is to work on your business and not in your business, and finding the time to develop and grow business activities is very difficult, expensive and comes with an opportunity cost,” Magnitude Financial Planning chief executive Mark Spiers said.
The system has been designed to automate both the development and implementation processes required to put together any chosen marketing campaign, such as assigning responsibilities to each individual participating in the exercise, and has the added benefit of transforming resources of the business that would otherwise be viewed as cost centres into revenue generating areas.
“If you can imagine you’ve got office staff now who are a cost to your business, with an hour’s training we can take them through a web-based intuitive tool that is all ‘point and click’ in its delivery to enable them to develop a marketing calendar for the year and marketing campaigns for the year,” Spiers explained.
“These campaigns could be for existing clients, for promotion in their local community, or for their professional referral network,” he added.
Magnitude Marketing Director has built in flexibility that lets every individual practitioner tailor each marketing exercise to fit the specific objectives they have formulated.
It has been developed over a nine-month period with the help of advisers and will be showcased at this year’s Financial Planning Association national conference.
The dealer group intends to use the remainder of the year to carry out training sessions on an office-to-office basis to ensure advisers are ready to use the tool for their campaigns planned for the start of 2007.
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.
