New product launched to improve planner client retention
A new service has launched to help financial planners keep better track of changes in their clients’ financial situations, by alerting them via SMS when they list property for sale.
Planners on the ActiveLead service could then contact those clients to arrange a new financial plan, as their financial situation either is or would change with the house sale.
Eric Handbury, director of ActiveLead.net said that the product would assist planners offer more active advice to clients, which was important as the top reasons clients leave their planners usually relate to a lack of proactive communication.
Handbury said that if a planner has 1,000 clients and the average householder sells their property every ten years, then that planner would get on average an ActiveLead notification every four days. This could result in a new source of active communication every week.
He also pointed to Investment Trends data showing that financial planners are losing clients at a greater pace than they acquire them, suggesting that planners need to do more to retain clientele.
AUTHOR
Hannah Wootton
Recommended for you
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
