We believe in the future of single adviser practices. Advisers with the right mindset for innovation and prepared to use a mix of inhouse & outsourced staffing solutions are thriving.

The single adviser business model has evolved over the years. Entrepreneurial advisers have lead the charge in adapting to changes to their operating environment. In recent years we have seen many examples by successful advisers to the structural changes to our Industry.

What are the key drivers that single adviser practices have focused on in their operating models?

Key drivers for Single Adviser Practice Success  
  • Managing time – advisers managing their time/focus on clients and servicing third party professional networks
  • Support – obtaining leverage through a mix of support staff and outsourcing
  • Innovative mindest – open to continuous business improvement. Thinking is not stuck in the past.
  • Technology – driving efficiencies in the back office, CRM and process capability
  • Target market – very clear understanding of their ideal client and prepared to say no to others.
  • Investment solutions – utilising efficiencies of managed accounts
  • Service packages – well articulated and easy to understand
  • Client feedback – regularly seek client feedback and have a process to act on it

The Secret of Scaling Your Business

We believe the single most important factor in successful single adviser practices is obtaining leverage of the adviser time.

For many advisers their biggest struggle is their own productivity. Many spend far too much time on preparing client work for paraplanning and administration.

They get caught up post client meetings in the functions of preparing notes, research and modelling for an advice document to be written. The big issue is moving on the file from the adviser as quickly as possible. There are various solutions to assist with this. Outsourcing options available now can make the process far more efficient.

In this model the adviser focus is on client meetings and delegating as much as possible to staff both outsourced and inhouse. The key is to open the mind to the possibilities available to create the optimal outcome for both clients and the business.

Adopting this type of model lifts adviser productivity & business growth with the ability to spend more time on new clients, and therefore developing further business income.

At Futuro, we facilitate through our Advantage Program, a business consultant to work with advisers to be able to scale up their business model and achieve the success we know is available.

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.