We live in extraordinary times. Many licensees and practices are trying to identify how to improve efficiency, revenue, and compliance to deal with the confluence of COVID-19, rapidly changing compliance obligations, technology advances, and shifting client preferences and business models. These key outcomes are inextricably linked to clients, so it’s important that their regular feedback plays a pivotal role in helping secure necessary improvements.
One of the biggest challenges with technology designed to help deliver on those outcomes though, like MyNextAdvice, is connectivity with existing practice systems. This can cause significant inefficiencies and that’s why we’ve integrated our service with Iress Xplan. We’ve partnered with Xplan to make it very easy for practices to initiate and leverage feedback from their clients to achieve business improvement.
Easily complete the integration during our super-quick registration process
It takes just 5 minutes to set up the integration using the existing templates function within Xplan.
Send clients a survey invitation
We’ve removed the need for practices to design a survey and figure out what questions to ask. MyNextAdvice is a done-for-you service underpinned by rigorous research and science. You can either set up triggers within your Xplan workflows or simply select the client you wish to survey and then email them the survey invitation from your saved templates whenever you want.
As soon as a client responds to the survey, we will automatically analyse their responses in real-time using our proprietary algorithms and push a report to the client record in your Xplan account, so the adviser and practice can review the results. We’ll also help you identify the next steps based on our unique intellectual property and create an evergreen data file (CSV) that licensees and practices can download at any time to prepare their own analysis, reports, and benchmarks.
Innovation without the headache to improve efficiency, revenue & compliance (with more to come)
Sometimes, practices can be tempted to make big bets on technology to achieve worthwhile innovation – for example, moving platforms. But our integration enables practices to achieve improved efficiency, revenue, and compliance, without having to move. This has made it easier to secure proven business gains without the risk of significant change to core technologies, something we’re able to offer practices operating in Australia, New Zealand, UK, and South Africa.
We’re also in an advanced stage of deploying client surveys aligned to key stages of the client lifecycle that will help advisers, practices, and licensees demonstrate, realise and promote the values underpinning FASEA’s Code of Ethics amongst other important use cases.
- Eliminates the need for survey design skills – send your first industry-aligned survey in 5 minutes
- Ends the perennial struggle to interpret results and then decide what to do next
- Connects surveys and reporting to your daily workflows (Xplan integration – more to follow)
- Helps establish what each client relationship is worth so you can focus on those who deliver the best results
- Enables more confident decisions about managing your most valuable assets – clients
- Identifies inefficiencies & pain points that directly harm your clients’ experience and, ultimately, your future
- Regulatory changes linked to FASEA Code of Ethics and Advice Fee Consents increase client retention risk – know which clients are at risk and take decisive action
- Gradually improve client experience to underpin relationship longevity & profitability
- Maximise client lifetime value using our unique calculators, What-If tool and Game Plan to measure and manage the profitability of individual client relationships and by segment/cohort
- Capture testimonials and authentic data for use in marketing
- Confidently identify referral sources and leverage your strong relationships to generate new clients
- Make more relevant and timely decisions to mitigate business & compliance risks across the client lifecycle
- Protect your reputation and livelihood by proactively gathering data that demonstrates compliance against FASEA Code of Ethics Values
- Commit to continuous improvement
Everyone understands how critical client feedback is to the success of practices these days, but often a lack of time or understanding of what to ask, or what to do with the results, acts as a real barrier to collecting it. Our integration with Xplan directly addresses these barriers and makes it very easy for every practice.
Even if you don’t use Iress Xplan, we’ll support your business improvement efforts directly from our platform. No sweat.
You can see a live demo of MyNextAdvice by booking some time with me at this link.
About MyNextAdvice: We deliver clarity, actionable insights & guidance to improve efficiency, revenue & compliance using the authentic voice of clients. Our cloud-based service delivers unique insights about client relationships to help the financial advice and mortgage broking industries. We provide a practical, industry-specific solution that uniquely connects client feedback to the bottom line.