Quantifii launches client service

4 February 2021
| By Chris Dastoor |
image
image
expand image

In response to the increased regulation and costs to advisers to service clients, Quantifii has developed software platform Eleva8 to assist financial planning firms to profile their client base to gain valuable insights. 

Eleva8 was a business customer analytics platform that had been modelled on another evaluation tool used to measure player and team performance in sport.

As the number of clients each adviser could serve had decreased due to increased regulatory requirements, it was vital firms identified the average revenue they aimed to receive from each client.

The firm had recently completed a pilot program with financial planning firm Investment and Financial Planning (IFP) to assist them in profiling their client base to determine their “ideal client”.

Andrew Moody, IFP director/principal adviser, said the process required the firm to investigate its business and identify the key attributes IFP would use to assess its clients.

“It needed to be unique to our business. Once we identified the criteria we would use the process became seamless,” Andrew said. 

“Establishing our criteria and ideal client profile was time well spent. We look forward to completing the next assessment so we can compare data insights.”

Craig Moody, IFP director/principal adviser, said Eleva8 helped them realise what made up the total value of their clients including intangible characteristics.

“Previously the focus was predominantly on the fees clients paid,” Moody said.

“We now have a strong understanding of our ideal clients, their attributes and what we need to do to realise an uplift from our clients.”

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 5 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 3 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

6 days 6 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

5 days 10 hours ago