We recently reviewed some key metrics of a financial planning practice that is looking to change licensee. For the sake of anonymity let’s call the practice High Street Financial Services.

To benchmark how this practice was performing we compared the metrics against the 7 Key Marketplace Metrics released by Praemium in conjunction with Business Health. The metrics shared were from Business Health’s latest analysis of key data provided by 300+ Australian practices.

It was an interesting exercise in overlaying the performance of a practice that had been operating for 5 years. The financial planner/business owner has 10 years experience as an adviser. He is considered to be an excellent adviser, degree qualified with very high technical skills and a good compliance track record. He says that he works long hours including some weekend time and is becoming burnt out.

This is the first time the business owner has seen any comparative data across performance metrics such as these. The performance of this business could be better. It looks like a classic example of the financial planner/owner totally absorbed in his client work. Too busy working in the business, and not working on it.

Getting the balance right regarding focus on clients and on the business is an imperative.

 At Futuro we will arrange for our Advantage Program business consultant to work with this financial planner on improving business performance and also assist in a more balanced personal life.

There are some key initiatives that require review & attention, including the following:

  • Client value proposition incl target market
  • Cost to serve & fee proposition
  • Service packages
  • Staff roles & responsibilities
  • Processes
  • Client satisfaction survey

At Futuro we understand financial planning businesses. We will be able to provide a lot of support to this business owner and improve both their business & personal life – getting the balance right.


If you would like to know more about how Futuro can help your business, give us a call on (07) 3018 0400 or send an email to info@futuro.com.au.