Here at Provisio, we like to challenge the status quo. In fact, we’re actually financial advice rebels.
If you work in this industry then you are probably aware of some long-standing assumptions. The most stubborn of which is the correlation between tediousness and excellence. Yes, you read that right! The thinking is that if something takes a long time to complete, then it must be worth the effort.
Brick and mortar financial institutions have relied on the implied importance of long strategy meetings for hundreds of years, effectively linking extraneous analysis with quality.
Your friendly financial software company (us!) beg to differ. In fact, we would argue that the faster you can formulate a strategy, the more time you can spend talking with your client and making a personal connection. Afterall, isn’t that what it’s all about?
The Provisio Web-based solution fosters client connections by crunching all of the numbers for you and achieving optimised results without hands-on modeling. It literally takes just minutes to incorporate complex client requirements for multiple strategies and produce a customised Statement of Advice for your clientele.
In the video demonstration above, the client wants to start a TTR strategy after her 55th birthday. She is making salary sacrifice contributions and wants to make a lump sum contribution in the future. She’d also like to reduce the number of working days as she approaches retirement.
Within 6 short minutes Provisio created a comprehensive TTR strategy based on all of these requirements and then incorporated that data into a retirement adequacy strategy. Provisio then created a customised SoA that includes a step-by-step guide to implementing the TTR, along with detailed tax tables, extra super & pension benefits (without sacrificing income) and year-by-year reviews of how the strategy affects her retirement.
But enough of my chatting… check out the video and let us know what you think via a comment!
Until the next time,
Brian
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Some final thoughts…
One of the things I really like about Provisio is that it empowers advisers to give clients the answers they want quickly. And “answers” are not simply the first available path; on the contrary, Provisio essentially models every possible way to implement a given strategy with all circumstances considered. After some intensive back-end modeling, Provisio identifies and conveys the singular strategy with the highest benefit for the client.
This entire process of optimisation is all done online, in a Web-based interface, within seconds. The amount of time saved is amazing. In short: less time number-crunching and more time getting to know your client and making that all-important personal connection. It helps advisers to connect with their clients… the easy way.
When not writing content for Provisio, Brian likes cooking, gardening and playing games with his young daughter. He works remotely from the Philippines.