“Client first” is Strategic’s core focus and the key to accomplishing that is making sure client’s can achieve their goals. Strategic sees great importance in continually measuring progress towards a client’s goals and making tactical changes to portfolios to meet those goals.
Michael Taylor is the founder of Strategic Financial Planning Ltd and has been a Financial Adviser for over 30 years. Michael was one of the first 10 advisers in New Zealand to be granted an AFA License by the Securities Commission in 2010. Strategic was the first adopter of the OMNIMax Advice solution and Michael was integral to the development of this initial offering.
Maintaining client relationships through regular reviews
Being a provider of bespoke portfolios, reviews account for 90% of what Strategic does. So it made sense that their financial advice software should handle reviews to facilitate client interaction and keep clients informed. Strategic approached OMNIMax about expanding their offering, which resulted in a revised workflow and modified Statement of Advice document to review a clients current investments.
“We meet the client, we give the advice, but it doesn’t stop there! We maintain a relationship, making sure our clients are on track and progressing towards their goals. Our bespoke OMNIMax solution helps us to do that”. Michael talks about how Strategic are continually measuring progress and re-balancing portfolios. They track selected investments and have built up their own database of funds, within the solution, to fuel their advice process.
“We make tactical changes to portfolios to meet market conditions, add new products or change existing ones to get the best outcomes. The OMNIMax solution allows us to communicate these to clients to gain their approval”. As Strategic does not have a DIMS license, each improvement they make to a portfolio needs to be approved by the client. This is done through a custom email template directly in the solution.
“We maintain a relationship, making sure our clients are on track and progressing towards their goals. Our bespoke OMNIMax solution helps us to do that.”
A client portal to track investments
The bespoke solution also has a client portal. In this, Strategic clients can log in, view their portfolio details and track their investments. Clients can access a full history of their portfolios and the breakdown and value of the funds over time. The portal is user friendly with an abundance of charts and graphs. Strategic advisors can also keep clients up-to-date with market conditions by adding commentary within the portal.
“We’ve greatly reduced the time associated with each client due to the automation and digitalisation of our workflows.”
Saving time – up to 50% per client
Strategic credits the OMNIMax solution with saving them time – up to 50% per client. Michael states, “we’ve greatly reduced the time associated with each client due to the automation and digitalisation of our workflows. The solution is a great asset to us. It gives our advisors the tools to visually show the benefits of the products and services that we offer.”
