The Future Of Advice Is Now..
In the rapidly changing landscape of the financial advice industry, it is becoming increasingly evident that putting clients ahead of products is a key driver of success and a requirement for survival.
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Our Scientiam - SLOCOACH partnership recognises that the future of advice firms lies in embracing this client-focused approach and leveraging innovative technology to transform the way clients engage with financial advice . Rather than start with what the industry called “ advice” which in reality was a product disclosure document - we see that consumers want to start with engagement, information, engagement to build trust before they engage with “ advice”.
What are the benefits?
Scientiam/SLOCOACH offers a range of essential features that are not only beneficial for advice firms but also contribute to the overall success of the platform. These features empower advice firms to deliver a superior client experience while maximizing their business potential. Let's explore these important features in more detail:
What are the benefits?
For each stage we illustrate: Benefit to the customer, benefit to the firm and the features that enable it.
Stage 1: Top of Funnel - Self-Serve for New Low-Value Clients:
Curation:
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Enable personalized experiences by creating customer cohorts and groups.
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Curate relevant articles and newsfeed content based on the interests and needs of each customer cohort.
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Foster engagement and interaction among customers within their respective cohorts.
Courses:
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Provide a library of self-paced courses covering a wide range of financial topics.
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Offer a structured learning path for new clients to enhance their financial knowledge.
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Allow customers to track their progress and revisit completed modules at any time
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Enable easy creation and sharing of content by admins and experts.
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Empower admins and experts to create engaging and informative content such as articles, blog posts, and videos.
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Promote thought leadership and expertise within the financial advice industry.
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Gamify the learning experience by awarding digital badges to customers for completing courses or achieving milestones.
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Recognize and showcase customer achievements on their profiles.
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Increase customer motivation, engagement, and a sense of accomplishment.
Content Creation:
Badges - Gamify Learning
Customers can self-serve while also having the option for personal interactions with advisors. The platform's capabilities enable seamless scheduling and payment for live meetings, facilitate digital client onboarding, and provide a smooth user interface for effective communication. Additionally, the live class tool, forms, and content sharing features enhance client management, engagement, and collaboration.
The benefit to the Customer:
These features enable scalable and efficient client interactions, personalised support, and the opportunity to offer pay-as-you-go advice. It empowers advisors to conduct digital meetings, hold seminars, and effectively manage client relationships. The result is a more personalised and interactive experience for customers, leading to increased satisfaction and loyalty.
The benefit to the firm:
Stage 2: Middle of Funnel - Hybrid: Self-Serve with Personal Interactions:
Create an engaging self-serve learning environment where new or low-value clients can access personalised content, participate in self-paced courses, and earn badges as they progress. It creates a dynamic and engaging experience for customers, fostering knowledge acquisition and empowering them to take control of their financial journey.
The benefit to the Customer:
These features allow for efficient content curation, course creation, and gamification, enabling scalable and cost-effective client engagement. By offering personalised experiences, empowering clients through self-serve learning, and gamifying the learning process, firms can attract and retain a larger base of low-value clients, setting the stage for further engagement and progression through the customer funnel.
The benefit to the firm:
Live Meetings Scheduling and Payment:
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Enable customers to schedule live meetings with advisors or experts directly through the platform.
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Provide a seamless and intuitive interface for customers to book and pay for live meetings on a pay-as-you-go basis.
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Facilitate real-time communication and collaboration between customers and advisors during the live meetings.
Digital Meetings and Client Onboarding:
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Offer a smooth user interface and user experience for digital meetings between customers and advisors.
Conduct client onboarding and initial consultations through digital meetings, eliminating the need for in-person visits.
Provide a secure and efficient environment for confidential discussions and document sharing during digital meetings.
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Enable real-time communication between customers and advisors through a messenger tool within the platform.
Foster seamless and convenient interaction for inquiries, clarifications, and ongoing support.
Facilitate quick and efficient resolution of customer queries and concerns
Messenger Tool and Communication:
Live Class Tool for Seminars:
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Conduct interactive seminars and group sessions with the live class tool.
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Engage a larger audience of customers simultaneously, providing valuable educational content and insights.
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Foster a sense of community and shared learning among customers.
Forms for Client Management and SOA generation:
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Utilize forms functionality to streamline client management processes.
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Collect and manage client information, preferences, and feedback through customisable forms.
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Enhance data collection efficiency and provide a structured approach to client engagement.
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Where applicable, can be linked to outsourced Paraplanning solution
Content Sharing and Media Library:
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Share client reports, documents, and multimedia content securely through the platform's content-sharing feature.
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Leverage the media library to organise and access relevant resources for efficient client communication.
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Provide a centralised hub for advisors and clients to access and collaborate on shared materials.
Stage 3: Bottom of Funnel - Full Advice: Portfolio and Relationship Focus:
Stage 1: Top of Funnel - Self-Serve for New Low-Value Clients:
Global Client Management:
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SLOCOACH allows advisors to effectively manage clients from anywhere in the world, providing flexibility and expanding their reach.
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Enable seamless collaboration and communication between advisors and clients across different geographic locations.
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Overcome geographical barriers and facilitate a global advisory practice.
Advanced Analytics and Reporting:
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Provide advanced analytics and reporting capabilities to track and analyze client portfolios and performance.
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Generate comprehensive reports on investment strategies, risk profiles, and financial goals.
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Deliver valuable insights to clients, helping them make informed decisions and optimize their portfolios.
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Assist advisors in adhering to regulatory requirements and compliance standards.
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Provide tools and features to streamline compliance processes, such as data encryption, secure document management, and audit trails.
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Ensure client data and sensitive information are protected and handled in accordance with regulatory guidelines.
Integrated Compliance and Regulation Support:
Client Relationship Management (CRM) Tools:
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Offer CRM functionalities to manage and nurture client relationships effectively.
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Track client interactions, communication history, and preferences to provide personalized service.
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Streamline client onboarding, document management, and ongoing engagement.
Integrations and Third-Party Connectivity:
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Integrate with external systems and platforms, such as custodians, portfolio management tools, and financial planning software.
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Enhance data synchronization, streamline processes, and provide a comprehensive view of client portfolios.
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Foster seamless collaboration between advisors and third-party providers for comprehensive client management.
By stage 3 the customer the customer is digitally connected to the firm.
The benefit to the Customer:
Cater to the needs of advisors managing clients in a full advice capacity, focusing on portfolio management and nurturing long-term relationships. The platform's global client management capabilities empower advisors to serve clients from anywhere in the world, while advanced analytics and reporting tools offer valuable insights for informed decision-making. Integrated compliance support ensures regulatory compliance, while CRM tools, automated workflows, and integrations enhance client relationship management and operational efficiency.
The benefit to the firm:
Wait there’s more...
The SLOCOACH platform offers a game-changing solution for advice firms seeking to transform the way they deliver financial advice. With its unique features and capabilities, SLOCOACH empowers firms to create a customer-centric approach and unlock new opportunities for growth and success. Here are the key takeaways: