Advice Intelligence

Calculate your cost benefit by utilising a.i.

Growth & efficiency calculator

About you

Are you a...

Your goals

Rate your goals in order of importance?

Your adviser team

How many financial advisers do you have?

0
500

Your paraplanner team

How many paraplanners do you have?

0
500

Your support team

How many admin support do you have?

0
500

Value of advice

What do your clients value most about your advice?

Client engagement

What percentage of your prospects are deterred by fact-find forms?

%
0%
100%
* Enter baseline percentage or - use Industry benchmark  

Client engagement

What is your initial meeting client conversion rate?

%
0%
100%
* Enter baseline percentage or - use Industry benchmark  

Client engagement

How engaged are your clients in your advice experience - from initial meeting to SOA?

Client engagement

What percentage of your time is spent in front of clients?

%
0%
100%
* Enter baseline percentage or - use Industry benchmark  

Efficiency

Do you outsource your paraplanning?

Yes
No

Efficiency

For the next set of questions, please enter an estimated hourly rate/cost for these roles?

 
Rate
Adviser
Paraplanner
Admin
* Enter baseline percentage or - use Industry benchmark  

Efficiency

How much time is spent on admin & compliance per day?

 
Hours
Adviser
Paraplanner
Admin
* Enter baseline percentage or - use Industry benchmark  

Efficiency

How many SOAs do you produce per month?

0
500

Efficiency

What is the average time to produce a single 1-2 advice strategy SOA? (If you outsource enter the Outsource Cost)

 
Hours
Adviser
Paraplanner
Admin
 
Cost
Outsource Cost
* Enter baseline percentage or - use Industry benchmark  

Efficiency

What is the average time to produce a 3-5 advice strategy SOA? (If you outsource enter the Outsource Cost)

 
Hours
Adviser
Paraplanner
Admin
 
Cost
Outsource Cost
* Enter baseline percentage or - use Industry benchmark  

Efficiency

What is the average time to prepare & conduct a client review?

 
Hours
Adviser
Paraplanner
Admin
* Enter baseline percentage or - use Industry benchmark  

Please provide your name and email address to save your results (please note: gmail addresses are blocked)

Your Practice Efficiency Report can then be viewed and revisited

Growth & efficiency report

This report provides you with a Practice Efficiency score across each area within your advice process. It identifies where you may have inefficiencies and how a.i. may help you lower your advice costs and scale for growth.

About your practice

0
Advisers
0
Paraplanners
0
Support staff
0
SOAs per month

Your practice goals

1. Growth.  2. Efficiency.  3. Client engagement

Value of advice

What your clients value most about your advice is
31% of clients have clearly defined goals and; 60% needed help planning for their future goals.
Source: CoreData

Growth & efficiency results

Client engagement

 
Your benchmark
Advice Intelligence benchmark
Engagement optimisation
Average fall-out rate for clients completing a fact-find
45%
8%
37%
37% increase in client engagement to complete a fact-find
45% fall out of the advice process, deterred by fact-find forms.
Source: CoreData
Initial meeting client conversion rate
50%
70%
20%
20% increase in client conversion
How engaged are your client in your advice experience
45% of consumers want to "do with" their adviser, with more knowledge. 67% of consumers don't read their SOA & are confused by it.
Source: CoreData
Average adviser-client face time per week (client facing vs admin)
60%
85%
25%
25% increase in adviser-client facing time
Admin & compliance make up 29.9% of an adviser’s time.
Source: CoreData

Efficiency

 
Your benchmark
Advice Intelligence benchmark
Efficiency optimisation
Admin & compliance
$400
$150
$250
$250 saving on compliance costs per month*
Cost of a 1-2 strategy SOA
$570
$150
$420
$420 saving for a 1-2 strategy SOA*
Cost of a 3-5 strategy SOA
$920
$230
$690
$690 saving for a 3-5 strategy SOA*
The average time it takes to do a Comprehensive SOA is 26 hours, at a cost of between $3,715 - $6,063.
Source: FPA
Average time to prepare a client review (track goals, cashflow, portfolio, super and investments)
$150
$110
$40
$40 saving for client review preparation
*Calculations use either your own practice baseline inputs or industry benchmarks.

Your growth and efficiency summary

By utilising a.i. your practice could increase client engagement & conversions by up to 20% and create efficiencies & cost savings of up to $0 on SOA production each year.

a.i.'s WealthMap takes paraplanning out of your advice process. And our WealthApp provides clients with real-time transparency to their advice, services, fees, goals, cash flow and portfolios.

Your practice has the opportunity to enter into a whole new world of increased client engagement and advice efficiency, leaving you time to focus on growth. Learn how now by booking a demo.

Book a demo