How to use annual review reports to enhance the client experience and give them peace of mind.

by Rory Brazil on 15·11·2022

As more and more advisers shift their focus away from products and more towards a broader and more holistic financial planning proposition, the profile of their income is also shifting from a reliance on initial commissions to a more valuable recurring income stream. To justify this recurring income stream, regular review meetings and how advisers engage with clients are becoming far more important events.

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The Importance of Processes and How to Create a Process Map

by Emma Bond on 04·11·2022

When I speak to firms who are joining The Timebank, one of the most frequent questions or areas they need help with is processes and procedures and how to document these. Ideally, we slot seamlessly into our client’s existing processes but the act of outsourcing part of their business brings the realisation there are no formal arrangements in place. For smaller firms or brokers used to working on their own, they may say they do not even have informal arrangements in place. Instead, they sort of know what each person is doing. At The Timebank we are in a unique position where we interact with many firms with a variety of sizes and structures, and we are lucky to come across many different examples of processes and procedures, what works well and what works not so well!

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