Title

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Practice

A practice is one where generally there are a number of practitioners serving clients, and little other resources. Practices are generally largely dependent on some key practitioners.

Investor
Owners
Responsible Officer
Client Adviser

Investor

WHAT MATTERS

  • Returns
  • Sleep at Night
  • Safety of assets
  • Trusting Relationship

METRICS

  • Recency and Relevance of Communications
  • Reputation / Client Portals
  • Statements
  • Reports
  • Actual Returns

WHAT CHALLENGES

  • Fees in absence of value
  • Cost of Advice
  • Getting up to date information when I need it

IMPACT OF CHALLENGES

  • Unclear fees or items erode trust

WITH FINANCIAL SIMPLICITY

  • Real sense of client first
  • Gives sense of options
  • Answers questions about direct ownership and hence trust

Owners

WHAT MATTERS

  • Top Line
  • Bottom Line
  • Business Risks
  • Recruiting Advisers
  • Brand and Reputation / Independence

METRICS

  • Assets Under Advice
  • Revenues
  • Costs
  • Client Win Rate
  • Adviser Numbers
  • Leads
  • Complaints

WHAT CHALLENGES

  • Margin Squeeze
  • Ever Changing Regulations
  • Understanding to Change Business Model
  • Obtaining Execution Resources and Skills
  • Shrinking Market
  • Proposition without Tainted Perception

IMPACT OF CHALLENGES

  • Uncertain Future
  • Business Valuation Threatened
  • Independence Position Threatened

WITH FINANCIAL SIMPLICITY

  • New Value Proposition – Increase Win Rates, Reduces cost to Service
  • Independence Highlighted
  • Path To Enhanced Relevance
  • Enhanced toolkit to recruit advisers
  • Provide advisers with Improved Productivity and Time Allocation
  • Business Model for Value Creation
  • Increased Valuation

Responsible Officer

WHAT MATTERS

  • Client Proposition within Contained Risks
  • Regulatory Reporting and Disclosures

METRICS

  • Complaints
  • Board Enquiries
  • Time to deal with changing regulations

WHAT CHALLENGES

  • Ever changing regulations with conflicted remuneration

IMPACT OF CHALLENGES

  • Increasing cost of conflicted or embedded fee products / services

WITH FINANCIAL SIMPLICITY

  • Up to date confidence of client portfolios to agreed mandates
  • Reduced complaints and increased defensiveness
  • Increased confidence of regulatory disclosures

Client Adviser

WHAT MATTERS

  • Fee Income
  • Client Relationships
  • Time Efficiency
  • Reputation
  • Proposition Tool Kit

METRICS

  • Assets Under Advice
  • Time Allocation
  • Win Rate
  • Cost To Recruit
  • Cost To Service

WHAT CHALLENGES

  • Time Poor
  • Declining Margins
  • Perspective in Changing World
  • Reliant on Licensee
  • Fragmented Technologies
  • Competition

IMPACT OF CHALLENGES

  • Inefficient client recruitment and servicing leading to more work – Cost to Recruit and Service going up
  • Win rates down
  • Paralysis

WITH FINANCIAL SIMPLICITY

  • New Value Proposition – Increase Win Rates, Reduces cost to Service
  • Enhanced toolkit
  • Improved Productivity and Time Allocation
  • More Time on growth increase Assets Under Advice

Business

A business is where there are an integrated set of functions that work with the client advisers to deliver overall results. A business is less dependent on key resources.

Investor
Owners
Researcher
Compliance Manager
Advisers / Brokers
Platform Selection
Proposition Owner
Portfolio Manager

Investor

WHAT MATTERS

  • Returns
  • Sleep at Night
  • Safety of assets
  • Trusting Relationship

METRICS

  • Recency and Relevance of Communications
  • Reputation / Client Portals
  • Statements
  • Reports
  • Actual Returns

WHAT CHALLENGES

  • Fees in absence of value
  • Cost of Advice
  • Getting up to date information when I need it

IMPACT OF CHALLENGES

  • Unclear fees or items erode trust

WITH FINANCIAL SIMPLICITY

  • Real sense of client first
  • Gives sense of options
  • Answers questions about direct ownership and hence trust

Client Advisers / Brokers

WHAT MATTERS

  • Fee Income
  • Client Relationships
  • Time Efficiency
  • Reputation
  • Proposition Tool Kit

METRICS

  • Assets Under Advice
  • Time Allocation
  • Win Rate
  • Cost To Recruit
  • Cost To Service

WHAT CHALLENGES

  • Time Poor
  • Declining Margins
  • Perspective in Changing World
  • Reliant on Licensee
  • Fragmented Technologies
  • Competition

IMPACT OF CHALLENGES

  • Inefficient client recruitment and servicing leading to more work – Cost to Recruit and Service going up
  • Win rates down
  • Paralysis

WITH FINANCIAL SIMPLICITY

  • New Value Proposition – Increase Win Rates, Reduces cost to Service
  • Enhanced toolkit
  • Improved Productivity and Time Allocation
  • More Time on growth increase Assets Under Advice

Portfolio Managers

WHAT MATTERS

  • Service quality to implement portfolios to mandates
  • Efficiency of resourcing to achieve service levels
  • Quality and compliance monitoring
  • Investment Returns
  • Client Satisfaction

METRICS

  • Performance
  • Number of Portfolios
  • FUM

WHAT CHALLENGES

  • Conflicting value message threatening margins
  • Lack of intelligent monitoring and decision support tools
  • Role relevance in more technologically advanced world
  • Lack of detailed processes

IMPACT OF CHALLENGES

  • Increase pressure to scale function with less resources

WITH FINANCIAL SIMPLICITY

  • Service more portfolios with less resources
  • Improve relevance and value of resource

Compliance Manager

WHAT MATTERS

  • Client Proposition within Contained Risks
  • Regulatory Reporting and Disclosures

METRICS

  • Complaints
  • Board Enquiries
  • Time to deal with changing regulations

WHAT CHALLENGES

  • Ever changing regulations with conflicted remuneration

IMPACT OF CHALLENGES

  • Increasing cost of conflicted or embedded fee products / services

WITH FINANCIAL SIMPLICITY

  • Up to date confidence of client portfolios to agreed mandates
  • Reduced complaints and increased defensiveness
  • Increased confidence of regulatory disclosures

Owners

WHAT MATTERS

  • Top Line
  • Bottom Line
  • Business Risks
  • Recruiting Advisers
  • Brand and Reputation

METRICS

  • Assets Under Advice
  • Revenues
  • Costs
  • Client Win Rate
  • Adviser Numbers
  • Leads
  • Complaints

WHAT CHALLENGES

  • Understanding to Change Business Model
  • Obtaining Execution Resources and Skills
  • Shrinking Market

IMPACT OF CHALLENGES

  • Uncertain Future
  • Business Valuation Threatened

WITH FINANCIAL SIMPLICITY

  • New Value Proposition – Increase Win Rates, Reduces cost to Service
  • Path To Enhanced Relevance
  • Enhanced toolkit to recruit advisers
  • Provide advisers with Improved Productivity and Time Allocation
  • Business Model for Value Creation
  • Increased Valuation / PE Ratio

Researcher

WHAT MATTERS

  • Performance
  • Reputation
  • Placement / Insto Relationships

METRICS

  • Performance
  • Funds Under Management
  • Client Time vs Research Time

WHAT CHALLENGES

  • Need for more transparency
  • Pricing power declining
  • Move to Flat fees
  • Growth of Passives and ETFs

IMPACT OF CHALLENGES

  • Work harder / more communications to achieve clarity and maintain reputation

WITH FINANCIAL SIMPLICITY

  • Easier to communicate with advisers and clients

Platform Selection

WHAT MATTERS

  • Asset security
  • Service levels to investors
  • Data to support business systems
  • Supporting tax wrappers (Super, pension etc)
  • Related administration overheads

METRICS

  • Costs to investor
  • Costs to business
  • Costs to interact with as an adviser

WHAT CHALLENGES

  • Understanding of investor security issues
  • Integrating with business systems (2 way)
  • Business risk management
  • Ever changing environment
  • Business and reputation dependency

IMPACT OF CHALLENGES

  • Hard to put all eggs in one basket for a custodial solution

WITH FINANCIAL SIMPLICITY

  • Supports a strategy of ever changing platforms to remain competitive

Proposition Owner (Chief Client Officer)

WHAT MATTERS

  • Engaging client offer
  • Competitive offer

METRICS

  • Costs to investor
  • Proposition engagement to investor
  • Propsition to match uniqueness and strategy
  • Customer satisfaction
  • Referral Rates
  • Revenues
  • Control over proposition
  • Outsourcing components

WHAT CHALLENGES

  • Reliability of suppliers
  • Overall brand of offer

IMPACT OF CHALLENGES

  • Adding relvance threat to customer satisfaction, revenues and brand
  • Adding uniqueness
  • Keeping costs down

WITH FINANCIAL SIMPLICITY

  • Enaging proposition for many segments to increase customer satisfaction, referral
  • Control over proposition to

CONTACT FINANCIAL SIMPLICITY