Create the space to do more face to face

It’s been five years since I launched Aspire Financial Advisers, and as the business matures the challenges change emphasis.  The reason I formed Aspire was to develop advisers and companies so they improved their professionalism, production and productivity.  This would be achieved through implementing robust processes, focused training, and most importantly, providing plug and play solutions where they don’t have expertise.  I am pleased to say that this has proved to be very successful.

Our advisers have always been paid by the appointment, not by the hour, and this is still the case. One of the challenges experienced advisers continue to face is being able to spend enough time in front of clients.  Increasing regulation brings with it increasing administrative requirements as well as demanding you spend more time with each client … so one has an impact on the other.

Generating new appointments is hard for both new and experienced advisers, but because of the additional workload experienced advisers will have it means good time management is essential.

Let’s compare a typical working week in an adviser’s life to a game of football:

A football match lasts 90 minutes, but statistically a top footballer will only have contact with the ball for 1.5 to 2 mins in a game. The other 88 minutes however are just as important, they call it pressing in the modern game which is about making runs, creating space for other players and winning the ball back.

An adviser will spend on average 12 hours a week in front of clients which leaves 3.5 days a week being an administrator … assuming you only work 8 hours a day!  This is essentially our time without the ball, and let’s be honest, if you don’t have the ball you simply cannot win!

This is where our main area of challenge lies, we are paid for prospecting and seeing clients and potential clients, the rest needs processes and systems.  So if we want to compete and increase productivity each year we need to ensure we are fitter, leaner and more effective.

Aspire have developed processes including a ‘pay as you go’ administration offering, a system for the development of new young advisers, a client management system, prospecting systems, an effective referral system to maximise the income opportunities of each client and to ensure they receive good advice and good outcomes, as well as digital marketing and digital client servicing facilities.

The ‘game’ of financial services is all about increasing productivity by creating the space and time to do more clients appointments.

If you think you are already Lionel Messi, congratulations, you are one of the few. But if you have the desire to do more and feel your business needs to become fitter Aspire are running taster workshops in different areas.

Come along and attend one of the sessions to find out more about Aspire and what it is we have to offer ambitious Advisers … indicate your interest here.