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25.01.2022 Tick...tick...tick... For some advice businesses, the dread of an external audit is too much to bear...like a ticking time bomb. But it doesn't have to be that way.... There are many technology-enabled tools that allow you to track your client file journey, from first contact, through to product implementation and review. And now with TIQK, you can automate the review of your advice documentation. TIQK assesses key risk indicators in SOAs and ROAs, so you can prevent the problems from reaching your clients. Which means an improved client experience and less manual intervention on the practice side. How does it work? The TIQK cloud platform assesses your documents, finds the problems and then provides objective feedback. It's designed to mitigate risk by identifying areas for improvement and coaching.. If you haven't considered automating compliance checks of your advice documentation yet, get in touch with the TIQK team to find out more. Go to the in our bio for our Partner page. #Enzumo #FinancialAdvice #Fintech

25.01.2022 Did you know that multitasking can be counterproductive? It can also cost companies 40% of lost productivity simply due to constant task-switching.* When we constantly switch between tasks, we think we're getting more done, but we're actually just forcing our brains to work harder and at a lower level of quality.... Don't agree? How many tabs do you currently have open on your computer? Likely far more than you should. Which means you're probably moving between multiple tasks inefficiently. Just like your team members are. So what does that mean for your business? Outcome = human error. When you run a business that is built on compliance requirements, that can be an issue. It doesn't have to be though, when you can mitigate these weaknesses with better systems and processes. If you're not using technology to better automate, manage and anticipate compliance requirements, then you're likely living in the past and not building a business for the future. It's time to get focused on what can shift the growth meter for your business in 2021. *Source: bit.ly/Cost_Lost #Enzumo #FinancialAdvice #Fintech

25.01.2022 Have you engaged with the Tangelo team yet? Tangelo was founded by Conrad Travers and Selin Ertac, who wanted to create a fresh kind of consultancy. A hybrid model with a focus on expertise and practical solutions for clients of all sizes. They now have a team of 6 to support the financial advice and wealth industry. The team know that the success of every business relies on having the right people, policies, processes and governance in place - but getting this balance just r...ight can be difficult, especially with so many competing priorities. So how might you engage the Tangelo team? Whether you need support with developing or revising your policies, assessing your advice process, or refining and developing compliance and governance programs, the team can help to: Develop or review policies Assess and simplify advice processes Assess business risk and establish appropriate governance structures Embed compliance into business functions Establish complaints management procedures Train and develop staff Plus much more. The team have the knowledge and skills to help you manage and deliver your projects effectively. Get in contact with them to learn more #enzumo #financialadvice #fintech

25.01.2022 When you choose an advice software partner, what are your key criteria? Choosing a new vendor is always an arduous process. You might be replacing an existing one, which can be easier as you have a benchmark of sorts. However, if you're starting from scratch then you might get caught up in a sales story. It's important to focus on the needs of your business, what will help you reduce risk AND grow, plus have ongoing support.... Peter Worn, Head of Strategic Relationships at Enzumo, covered some key areas to be mindful in a blog post. Pete's 5 key steps are: Document an external facing overview of your firm: be very clear about all details of your firm, so the vendor can present the best solution Outline the critical issue you are trying to solve and what your ideal solution looks like List your purchasing criteria: create a shopping list of things in order of priority Make clear your decision making process: tell potential partners your ideal timeline, who are decision makers and sign-off process Keep your vendors informed If you want to get it right the first time, know what you really want and stick to a plan. Link in our bio to Peter's blog #enzumo #financialplanning #technology

24.01.2022 As we look forward to the changing compliance space, we're seeing some challenges for advisers. What's the biggest challenge you find with managing compliance? Without a doubt, our clients tell us they struggle with the interpretation of legislation. Not because of a lack of understanding or knowledge, it's purely as a result of ASIC not being prescriptive. ... Which means everyone can have a different interpretation and manage to their level of expected risk - the cost of PI insurance paints that picture of uncertainty in the industry. Of course, that approach can be fraught with danger. We get feedback that clients fear doing something wrong, or that they're just not sure if they might be missing an issue. It's not great for the stress levels and can certainly set yourself up for problems if there are gaps. So what can you do about it? We think it can be a lot simpler by engaging a partner to help you navigate the 'what ifs'. Integrity Compliance are experts in their field and they provide end to end compliance for AFSLs and licensees. Don't navigate it alone, get in touch with the team to have a chat about how they can make compliance easier for your business #enzumo #financialadvice #fintech

24.01.2022 One of the biggest kicks we get is the results we produce for our clients when they implement our tech and workflows. What if you could save 6 hours of production time for every SOA you produce for clients? Well, we've done that for our clients.... If you could do that in your business for two SOAs a week, it would look something like this: Save 12 hours per week or 1.5 days 45 weeks of the year = 540 hours per annum That's a whopping 67 working days a year you could get back. Imagine that? You could be doing more work with more clients, working less, redirecting services to other activities...the list goes on. The beauty is that it gives you choices to manage resources more efficiently in your business. Plus, by implementing our systems you're increasing your risk management by reducing the opportunity for human error. Which also increases client value by removing the errors in advice documents (we all know they happen). Want to see how it works? Get in touch with our team to hear how we've helped others improve their approach to business efficiency #enzumo #financialadvice #fintech

23.01.2022 "Our research suggests that as many as 45% of the activities individuals are paid to perform can be automated by adapting currently demonstrated technologies. In the US, these activities represent about $2 trillion in annual wages."* How efficient is your business really? We often think that automation addresses the lower level admin tasks within a business. The ones carried out by team members at a lower hourly rate, so 'why bother addressing those right now?'.... Well, McKinsey disagrees with you: "We often think of automation primarily affecting low-skill, low-wage roles, we discovered that even the highest-paid occupations in the economy, such as financial managers, physicians, and senior executives, including CEOs, have a significant amount of activity that can be automated."* The benefits to using technology better, getting regular business 'health checks' and monitoring your success metrics will tell you the truth. Our clients see the benefit of making the shift to having better efficiencies. Are you ready to make the move? Call us to learn more *Source: https://mck.co/2LkdxEx #Enzumo #FinancialAdvice #Fintech

23.01.2022 When it comes to data entry, accuracy, as well as speed, are equally important. When staff are under pressure to get tasks done quickly, more errors are likely to occur. How can accurate data improve the efficiency of your business? Saves time that paraplanners and advisers may spend reviewing the data before modelling and producing advice documents... Meets the 'Know Your Client' rule which is a requirement for advisers to meet to ensure their advice is suitable Data integrity improves confidence with your clients when you can show you've accurately captured their details in their advice document Report accuracy instils further confidence that reports generated will be accurate the first time and reduce time cross-checking data Real-time integration enables the adviser to draw on facts and figures that are up to date to support their advice, instead of having to wait for days until data can be confirmed or updated Enzumo is here to help customise, integrate and improve your financial planning software and create efficiencies that contribute to client engagement, as well as revenue growth. Are you ready to make the right improvements? Get in touch today #enzumo #financialplanning #technology

22.01.2022 If you could reduce the time it takes to produce an SOA by 75%, what would you do with all that spare time? On average, Enzumo customers have been able to reduce the time it takes to prepare a Statement of Advice from 8 hours, right down to 2 Reducing the time previously allocated to different people in the team to prepare the document, there is now more resources available to focus on other tasks within the business.... We often get the 'but, what?' question here. This is when as a business owner you need to think about how you can turn that time into retaining clients or getting new ones. Here are some ideas: Ask clients for testimonials for your website Develop a webinar for all clients of the practice Write content to be shared on LinkedIn or client newsletters Record a monthly update video to be sent to clients Efficiencies are always great in an advice practice, but the power comes from what you do with that time, to either retain your profit or grow it. Get in touch with our team today to learn more about how we can help #enzumo #financialadvice #fintech

22.01.2022 Automation is a word that we see thrown around a lot today in financial services. As if the right 'technology stack' will solve world hunger, as well as all the problems in your advice business. That's a nice thought, but unlikely. Technology is only as good as the inputs. The success of a move to more innovation solutions in advice practices is more about the mindset of the practice owners and the time and effort they're willing to spend on implementation.... As a business owner, you need to be prepared to admit your business COULD be more efficient and that you have some weaknesses in your workflows and process management. This includes admitting that some people within the business are blocks for workflow - yes, we're looking at you. Automation is about automating tasks to keep workflow moving and removing the risk that tasks can be lost. Which includes getting lost on your desk, or that of your team member. If you can get it right, you can increase risk management, redirect business resources to business-building activities and potentially remove boring and repetitive admin tasks from team members. It's all possible. Reach out for a chat if you want to know how #enzumo #financialplanning #technology

22.01.2022 If you could improve one thing in your business, what might it be? Put an emoji in the comments if one of these (or all) fit Reducing manual advice document editing... Improve your workflow processes Get better technology Better training to use what you have Sometimes what you've got can do the trick, you just need better frameworks and training. That means the whole team too - no point only some of you being on board with new systems. We always get a complete picture of your business when we start working together, so we know where you're at right now. It's the only way to track performance and improvement too. We look at things like: Reviewing advice delivery process and documentation Bench-mark your practice processes Identify gaps and weaknesses Map your advice delivery process Then we get to work and develop a technology and implementation road-map. We work with you to implement AND train your team. We're all about saving you time and money, so you can see a return on investment sooner. Plus, add more value to your clients. Book a time to have a chat to our team and see how we can help you #Enzumo #FinancialAdvice #Fintech

22.01.2022 Can you picture a world without smartphones? Seems impossible, right? Each day we manoeuvre through our day-to-day tasks while swiping a screen or using a voice command (hey Siri). There's no denying our dependence on our Android or Apple devices have certainly grown.... Which has prompted Deloitte to define the last decade as 'The Smart Decade'. Over the past ten years, we all know that smartphones have almost become the remote control for our lives. What did we do before them? Hard to remember, but we probably spoke to each other a lot more than we do now! But with that said, behaviour is shifting. 60% of people surveyed by Deloitte are trying to limit their usage by way of a digital detox. For a good reason - its been estimated that a person checks their phone about 85 times a day! It certainly highlights how best to interact with clients, when we know their device is with them always. So there are benefits to our commitment to smartphones But, if youre reading this on your phone, perhaps it's time to switch off and take a break. Even just for a little while Source* https://bit.ly/Enzumo_Deloitte_2019 #enzumo #financialadvice #fintech

21.01.2022 Has the fallout from the COVID-19 pandemic got you thinking about working with specialist partners? Now is the time to tidy house, improve systems and address anything that's been on the 'to do' list for a while. One of our valued partners is Tangelo. They provide consulting for small, medium and large licensees who are looking to strengthen their compliance models, enhance operating frameworks/ governance or just problem solve any issues you might have. ... We love Tangelo, because they're: Proactive with strategic responses and solutions to regulatory and business requirements Experts in compliance, regulatory requirements, and risk management Practical with their hands-on approach, with a proven ability to manage complex change Delivering for their clients and have a track record Tangelo are are providing comprehensive solutions to our clients, in times where there is much uncertainty and getting great results for them. The world of advice in Australia is changing at a rapid pace and there isn't always a black or white answer. Work with Tangelo and they'll help you navigate the unknown. Find out more here: https://www.enzumo.com/partners #enzumo #financialadvice #fintech

21.01.2022 When the COVID crisis calms down and we go back to a level of normality, there will be new issues on the horizon. We figure that ongoing compliance issues and discussions will come back to front and centre for advice practices. Namely, ongoing service agreements and how they will be implemented. Are you ready to make the change?... There will be a distinct change from what you're doing now. The fee discussion will need to be had with clients about continuing, plus you also need to get the timing right. It will be hard to manage without technology, or the right systems and processes. Given that it's going to add some more time and effort to your processes each year, as well as increase the levels of engagement you offer to clients (to make your value more obvious), do your prices also need to increase? There are many questions that advice practices need to answer, in order to get the best pathway moving forward. We know that the right technology, with the right implementation, processes and workflows, will make it easier to see the answers and implement the changes needed. Reach out to our team if you want to know how we're helping advice practices navigate the changes #enzumo #financialplanning #technology

20.01.2022 On average, how much time do advisers in your practice spend on risk and compliance each week? Administration is a significant burden in advice practices and often flagged to be the biggest cost to the business. But even with the attention it gets, things can still be missed and fall through the cracks. Can your business afford to have that happen?... The benefit of having an integrated advice software system means there is less likelihood of it happening. Imagine creating automation around recurring tasks, tracking when tasks are done and recording compliance requirements all in the one place. It free's up administration time and reduces risk. The solution can include: Workflow reporting Pipeline cycle reporting Assigning tasks automatically Reducing advice document personalisation Automated onboarding processes No longer is there double (or triple!) handling of documents, which could mean more time to prioritise those things that often fall to the bottom of the list. All of these benefits come from having the right advice technology and implemented specifically for your business. Want to know how we do it? Give our team a call #enzumo #financialadvice #fintech

19.01.2022 Have you registered for the Association of Financial Advisers (AFA) National Conference yet? It's getting close and it's all online, so no excuses to not attend and see some of the amazing speakers they have lined up When is it? Wednesday 14 & Thursday 15 October 2020 The themes for this year are:... Discover: New opportunities to lead the way in trusted advice Learn from world-class experts Transform Think big: Transform your thinking Turn your vision of a future-proofed business into reality Ascend: Lift yourself and your business to the next level Our very own Peter Worn, Head of Strategic Relationships, will be hosting a panel Q&A on: "Technology trends impacting advice firms in 2020 and beyond". The panel will include representatives from: MyProsperity Intelliflo Ltd Creativemass AVANSER We're pretty sure there will be some robust discussions and debate, on exactly where technology is headed and who the major players will be. We hope to see you there! Register here: https://lnkd.in/ghfmfCA #enzumo #financialplanning #technology

18.01.2022 What are you doing in your business to 'look within'? Sometimes it's hard to work 'on your business', when you're looking at it all day, everyday. You know there are problems that need better solutions, but you don't often have the headspace or time to get down to the specifics and what those solutions might look like. Working with valued partners is a key area of focus for the Enzumo team, because we know that our industry needs access to specialist services as advice practi...ces look to pivot, grow and innovate. One of our key partnerships is with the Business Health team. They understand our industry and they know how to focus in on the strengths and weaknesses of an advice practice, then find the right improvement solutions. Getting it right the first time, is about working with professionals who know how to grow businesses. Enzumo clients also get access to some of the Business Health tools at corporate rates. If you're looking to make 2021 your year of innovation and growth, then reach out to the Business Health team to find out more about how they can help Check the link in our bio #enzumo #financialplanning #technology

17.01.2022 Do you remember the days when paraplanning was just becoming a field of expertise? It's come a long way since then and is often a key part of a successful advice business. Do you keep it in-house or outsource? There are pros and cons for both approaches and it can all depend on the size of the business, resourcing and technology capabilities. One thing that stays the same though, is the need for quality client data and robust workflows.... What we often see in the background, is an inefficient back office that sees paraplanning as a document producing function. But we know that it's far more than that if it's done properly. Get your paraplanning right and it can: Improve the quality of your client data Feed into a workflow pipeline Generate onboarding tasks automatically Improve the value the clients see Of course, you need the right technology to make it all gel together. 2021 should be the year of filling gaps in your business that either increase risk or reduce your opportunity for profit. Reviewing your paraplanning model is a good start. Get started today by chatting to our team about how we might be able to help you #enzumo #financialadvice #fintech

17.01.2022 As COVID-19 slowly becomes part of everyday life, the financial advice industry will need to accept that previous methods of acquiring and servicing clients, will need to change to remain relevant in the 'new normal'. Adopting a digital mindset is one of the ways your practice can deliver continued innovation. Simon Waller, author and founder of The Digital Champions Club explains:... " , . , -- , ' ." The challenge moving forward will be about creating 'new' value. Innovation is going to be your best ally as you tread this new path. Using technology in ways you may have never considered is going to become the norm as we all move forward in new territory. Determining which suite of tools are best going to serve you into the future is no small task that's why our team are here to help you every step of the way. Get in touch with us, so we help you forge the new frontier in your practice #enzumo #financialadvice #fintech

17.01.2022 Do you ever look at the advice documents produced in your practice and think they might need an overhaul? Maybe you ponder some of these questions... Do clients easily understand this document? Can it be less challenging to produce?... Do we need to be more compliant Can we increase automation? Is it possible to reduce editing? If you answered yes to any of these questions, don't worry you're not alone! Which is why we know how important it is to improve this area of your business - the potential efficiencies you can get will have a big impact. When you work with the Enzumo team, you get access to our Advice Delivery Suite, which gives you all the solutions you need to these issues. Our best-of-breed framework gives you: A better fact find solution Advice document preparation efficiencies Engaging review report technology It's packaged up in one comprehensive, coordinated solution, that's easy to implement. Now is the time to implement innovation that can remove some of the inefficiencies in your business, assist you to produce more compliant documentation and reduce production times. Want to know more? Give our team a call today #enzumo #financialadvice #fintech

16.01.2022 Sound familiar? You've probably heard that from your peers at PD days, or maybe in some of the online forums, you're a member of. We certainly hear it from our clients and prospects. We understand the desire to move to a new tech solution, especially when you feel that it will tick all the boxes to fill your gaps or improve your weaknesses. But sometimes you need to be cautious about following a bright shiny object.... Peter Worn, Head of Strategic Relationships at Enzumo, gave some insight into the filters we encourage clients to use when assessing systems: Is the solution fully developed? Does it meet the core needs of your problems? Are there comprehensive research and modelling tools? Is the technology stack scalable and industrial strength? Is their corporate structure stable and well-financed? We use this framework in our own business and we think it applies just as well for advice practices when looking at any sort of technology. Ask the right questions now, otherwise, you'll be stuck with new technology that doesn't really provide a solution to your problems. #Enzumo #FinancialAdvice #Fintech

16.01.2022 There are some key benefits of working with an outsourced technology partner. In our experience the businesses who don't invest in a partner, end up doing too much of this: Spending valuable time trying to get their software to work Not using the software to it's full extent Which means you aren't actually getting benefits that the software can provide, like risk management and business efficiency. Plus, you're also not getting the return on your investment. Actually,... it's probably costing you more money when you take into consideration your people cost. So what benefits are flowing to the practices who do outsource? Well, we know that our clients get to implement new workflow and process strategies, so that their business is better managed. Tasks don't get missed, there is less human error and risk is reduced when key team members leave the business. But most of all, they get to redirect the time savings into more client engagement activities. Like more calls to clients, increased marketing strategies and other proactive client value activities. 2021 is fast approaching. If you want to start planning for growth and improvement, get in touch with our team today #Enzumo #FinancialAdvice #Fintech

15.01.2022 Strategic partnerships are a key focus for Enzumo. We know that bringing together other specialist service providers improves our offering to dealer groups and advice practices. Business Health is one of those strategic partners. The Business Health team offers products and services specific to the financial services industry, helping to identify strengths and weaknesses in advice practices.... Their solutions and strategies are data-driven, using diagnostic tools to help capitalise on your existing client base and increase your profitability. They also offer a wide range of tools and templates to improve and maintain new-found business health, including: Business planning Client surveys Practice valuations Tailored workshops and presentations In times of rapid change the opportunities might look different, so now could be the time to get in touch with the Business Health team. Take advantage of their special corporate rate for Enzumo customers and get the right roadmap for your business today Link in our bio #enzumo #financialplanning #technology

15.01.2022 Having the right paraplanner working with your business, can be a amazing asset. Not only are they specialists at what they do, they will be applying their skills to advice strategy - not just taking orders. So what sort of qualities should you be looking for in a paraplanner? To be a specialist in their field and offer a quality service, paraplanners need to clearly understand regulations, be technically sound and be creative in their strategy advice. It's also important to ...have strong processes, the right technology and best of breed advice documents to work with. When they know your business well and understand the clients you work with, it's easier for paraplanners to support any strategy set out by you. The right paraplanner will be an extension of your business and a very valid contributor to the ongoing value you provide to your clients. Are you working with the right paraplanning team? Talk to us if you aren't and we can connect you with the right team #enzumo #financialplanning #technology

15.01.2022 Do you think your business is a little stuck in the past, or are you evolving and planning for the future? During these very challenging times, it can be difficult to plan for a future where so much is uncertain. Workplaces may never look the same, and business models are pivoting quickly to adapt to the current climate. Preparing for online advice may be one of the best ways you can future-proof your business.... In a recent study, KMPG discovered that almost two-thirds of consumers favour taking the relationship they have with their adviser entirely online. Which means the technology you have in your business is going to be an integral part of your success. But, your role as a practitioner or business owner - isn't knowing the ins and outs of advice technology, nor should it be. That's a job to outsource We know you can achieve better business outcomes and improve your profitability, if you get the right solution and have it implemented appropriately. Why? Because we see it happen with our own clients. Source: https://bit.ly/Enzumo-KPMG #enzumo #financialadvice #fintech

14.01.2022 How quickly do you notice risks within your practice? Perhaps the move to remote working was an eye-opening experience for you and your team. You're likely finding new ways to talk to your team remotely, engaging with clients electronically AND thinking about the changes you need to make, in order to protect your practice from compliance risk. Phew, a lot to think about!... If we can give you one tip, it's don't do this alone. We see ourselves as your risk reduction partner. Our focus is to help you: Identify opportunities for improvement Improve your current systems Enhance your processes With over 8000 financial advisers accessing our services, we gather a lot of information around the pain points for advice practices. What's even better, we have the solutions ready to implement. Let our team work with you to integrate exactly what you need into your business, efficiently and effectively. Ready to get started? Get in touch to learn more. #enzumo #financialadvice #fintech

14.01.2022 When we begin working with a new client, we take our role very seriously. Not only do we see ourselves as a tech provider, we have the opportunity to influence the way that advice practices deliver high-value advice. Whether it's: Reducing their compliance risk... Improving advice doc production times Activating their client portal access It all improves client value. We know that clients who understand the value they're receiving, stay on as long term clients. We want all of our clients to be in that position - know the value of what they deliver and retain clients for the long term. Times are changing. Expectations are evolving. Are you ready to embrace the new world of advice delivery? Reach out if you want to know more about how we're guiding our clients to embrace innovation and deliver beyond client expectations #enzumo #financialadvice #fintech

14.01.2022 Whats the most significant change you've seen in your business since COVID-19? It's likely the usual things - more phone calls, more emails and now the Zoom meetings. Having more client meetings online is one approach to keep clients engaged, but it does generate more work. There are other ways to add value through awareness, knowledge and education - which won't increase the workload at the client level.... Marketing is the key. Email marketing, social media content and creating videos or podcasts, are all ways to get in front of your clients and potential new ones. But, it can be overwhelming and hard to know where to start. This is where working with a partner takes the pressure off. Especially one that knows the marketing AND understands financial advice. Media Sixx is our partner in the digital marketing space and they specialise in financial services. They have some simple solutions that can help: Packaged Monthly Content: buy social content each month, already created for you Coaching: get a strategy session and training for you and your team Ready to set yourself apart from the pack? Get in touch with them to find out more. https://www.enzumo.com/partners #enzumo #financialadvice #fintech

13.01.2022 How are you managing an increase in client calls during this time? An increase in Zoom calls has certainly helped to ease the stress for clients, but it's likely also increased the workload for your team. From paraplanning requirements, notes on the discussions, follow-up tasks, through to advice documents, the admin requirements have grown It's important to have systems and processes in place to keep on top of it all, because if you slip it poses an enormous compliance ris...k. Do you have the right processes in place? Many practices don't. Which is why when we integrate advice software, we're looking at the needs of the whole business - not just delivering a technology solution. We work with practices to reduce administration and assist with maintaining compliance, by: Implementing better and more efficient review templates Reducing the time it takes to create an SoA Improving client data collection tools On top of this, we provide ongoing training and support, so you're not doing this alone. Out of challenging times, can come opportunity if you choose - are you ready to implement changes in your business to support you in 2021? Talk to us to find out more #enzumo #financialadvice #fintech

13.01.2022 We all know client service agreements are a crucial part of any advice practice. While they're essentially a licence to operate with our clients, they are also a great way to show value. When having reviews with clients, it's essential they feel that the amount they're paying your practice, meets their expectations of service. With 40% of Australians saying they are living paycheque to paycheque*, and COVID-19 creating more financial stress than ever before keeping your val...ue proposition clear has never been more critical. One way of doing this is ensuring your advice software is on point so you can spend less time preparing advice documents, and more time on activities that make your clients feel the love. Creating these efficiencies within your business by using the right technology, will make preparing for year-end reviews feel like a walk in the park! Get in touch with our team to get started on implementing your advice software *Source: https://bit.ly/ENZUM-FINDER #enzumo #financialadvice #fintech

13.01.2022 Human error is a common occurrence in business. However, as a business owner, it can be an expensive mistake. If you have the opportunity to automate a process or action using technology, our advice is to take it. It doesn't mean that you need less people in your business. On the contrary, it can mean your team can do more valued work for the business or with clients.... Have you thought about how automation might reduce costs? Your cost to serve clients is likely to decrease if you can automate repetitive tasks and redirect team resources. It's certainly good to save money, however, we think the bigger win is about reducing your error rate. Reducing the potential audit holes in client files due to human error or oversight is definitely a good thing. One of the key areas of focus for Enzumo is the automation of business processes through XPlan. We also have a suite of advice documentation to support these processes, to make the implementation plan even more effective. If you're looking to get greater margins in your business while reducing risk and increasing value to clients, get in touch with our team today #Enzumo #FinancialAdvice #Fintech

12.01.2022 Enzumo is passionate about developing and implementing innovative technology solutions, which requires an experienced and diverse team who love what they do. Meet Casper Jacobs, our very own Senior Advice Technology Consultant. Casper is a keen runner from country Queensland who usually loves travelling ... But for now his focus is on helping the industry overcome unique challenges by adapting and growing without fear. Be Fearful when others are greedy and greedy when others are fearful. Warren Buffett Casper believes this quote really speaks to the fact that looking for opportunities when other people are afraid to act is more beneficial then being late to the party and following the pack. This means good partnerships, processes, technology and automation will be the factors that set apart the successful from the rest. We know that times are tough right now which is why we're focusing on greater connections with our clients. Reach out to our team for guidance on making the right decisions for your business today #enzumo #financialplanning #technology

12.01.2022 Did you know Enzumo is the largest and most experienced independent XPLAN consulting group in Australia? We know that the need for efficiency, return on investment, and business growth is always top of mind for every advice practice. So, the first step to creating growth and efficiency is a technology stack that is going to do the heavy lifting. Let us come in and review your existing advice delivery process, as well as the documentation it produces.... From there, we will identify the gaps and weaknesses via our robust benchmarking system this gives us a baseline. Once we discover what your practice needs, we will work with you to develop a practice technology road map and an implementation guide. Some of the areas we can work on with you, are: Creating a data-driven fact-finding solution Specifically crafted advice templates Comprehensive review reports in an engaging format There are no cookie-cutter approaches here everything we create is made to fit the specific needs of your practice Sound like what youre looking for? Get in touch with the team today and let's get started #enzumo #financialadvice #fintech

10.01.2022 We're over half why through the week - happy hump day! Dipal Khatri, our very own Advice Technology Consultant, shares one of her favourite quotes to get you through to the weekend. - ... If ever there was a time to take this on board, it's now. Even bofre COVID hit us, Dipal was a firm believer that every experience, good or bad, is always teaching us something and helping to build our character. And we certainly agree on this one! With some of us doing it tough at the moment, we know that we will come out the other side so much stronger. Building better businesses and having greater connections with our clients. If you need some guidance to make the right changes in your business, then please reach out to our team for a chat. #enzumo #financialadvice #fintech

10.01.2022 Given we have had to take more of our client interactions online with COVID, the potential for getting caught up in a scam has increased. Whether a scammer is phishing from your client's email account or using some other form of fraud, the danger is real. You can't escape the problem, but you can get better at managing the practice risk. AUSTRAC provides some guidance around identity verification so that you can continue to meet your regulatory requirements. Once your clients... have provided you with copies of their ID, the following options can be used: Get clients on a video call you can easily compare the identity of clients on the call, with that of the ID Have your clients send you a selfie especially good if they are travelling and harder to pin down; even better, get them to turn on location services and the picture will pinpoint their location for further verification Make a phone call calling the client to verify that they have requested certain actions or information, is a great way to bypass the email scammer Always remember, when you don't have these sorts of processes in place, you'll get caught out #enzumo #financialplanning #technology

10.01.2022 We know the first step towards implementing anything new is often the hardest But we also know that taking a calculated leap of faith can often pay off Many businesses we work with, have pre-conceived ideas about what change might look like and how it might affect their practice.... Which is why we have a process that involves 'looking under the hood'. We want to really understand your business, so we can create the best possible strategy for change. Whether you're starting from scratch or have an existing advice system, we'll identify your gaps and weaknesses via our unique benchmarking system. We then develop a road-map and implementation guide, so you aren't flying blind. Along the way, we're also here for ongoing training and support - you and your team are never doing this process alone. We see the benefits advice practices gain when they make the right changes, based on a plan. Plus have the right support team. Do you have the right support team? Get in touch with us if you don't #enzumo #financialadvice #fintech

09.01.2022 Creating more client value is fast becoming an industry catchphrase. It shouldn't be ignored either. We've moving to a time where the way advisers charge is changing quite dramatically and it could have an impact on your bottom line every year. So how do you make sure clients are getting value?... We think for starters you need to understand your business numbers a little better: # What is your cost to serve? # What is your pricing at differing service levels? # What is your profit margin at each level? # How many client touchpoints do you have in 12 months? Client expectations have changed a bit in the last 12 months, so we need to be more aware of their needs. Do they want more online access? Do they want to hear from you more? How can you stay front of mind in varied ways? When you understand the metrics of your business, it's a lot easier to identify areas for improvement. Technology will help you enable efficiencies, implement innovative solutions, market to them more and generally provide a better experience with clients. Get the right tech partner and you're on your way. Get in touch with our team to find out how we can help #enzumo #financialadvice #fintech

09.01.2022 This is the value that you provide to clients. It's an important role for them and for the community as a whole. So, don't leave your clients to decide the narrative about what service you provide to them. Clients are not always aware of all the range of services you offer, the work you do in the background or the complexities of providing advice. Don't keep it a secret any longer.... Never underestimate the power of regular communication that can highlight the benefits of your service. It also makes it easier for your clients or partners to refer the right clients to you. Places where you can get better at telling your story: Website copywriting - tell stories, use case studies, bring visitors into your business Existing clients - use a range of communication that can help to remind clients about what you do Social media profiles - be consistent with your content and messaging Referral partners - get better at reminding partners about what you do and who you want to work with Remind everyone that working with experienced providers gets the best results in the long term #enzumo #financialplanning #technology

09.01.2022 When we begin working with new advice practices, one of the most significant issues we see is the quality of their client data. Given this issue comes up a lot, it's probably safe to say that it's a common gap in a lot of businesses. The gap in data can create a range of flow-on issues in advice practices, which can include: Incomplete information in advice documents Practice inefficiencies while following up missing data... Unnecessary compliance risks That's why we often recommend the integration of our Client Builder tool. It's a flexible template within XPLAN that supports simple, as well as complex client data collection processes. We find that the practices who implement the Client Builder tool as part of their process, are getting rid of the missing data issue and having a far more efficient and robust client onboarding process. Which means, you (and your team) can spend more time on client engagement and income-generating tasks. Want to know more about how it works? Get in touch with our team #enzumo #financialadvice #fintech

08.01.2022 As we learn to live with COVID-19 as part of our daily lives and some of the changes that might be here to stay, we know the way we operate in business is never going to be the same. Being in the office five days a week seems already like a thing of the past, as we have found to be just as efficient working from home. The recent circuit breaker may have been an opportunity for you to identify some distinct pain points in your business, which now become exaggerated with remot...e working. Well, now might be a good time to look at your strengths and weaknesses, and implement some changes. We partner with Business Health because theyre uniquely equipped with the right tools and diagnostics to find out where the weaknesses are in your business. They then work with you to get the right roadmap, plus provide the templates and frameworks to implement. Enzumo clients get the benefit of accessing some of the Business Health tools at corporate rates too Want to know more about how you get started? Get in touch with the Business Health team to find out more - https://www.enzumo.com/partners #enzumo #financialadvice #fintech

08.01.2022 Have you met Helena? Helena Burr-Dixon is one of the very talented Advice Technology Consultants here at Enzumo. Helena gets to work closely with advice practices around the country and she gets a lot of common questions. One of the questions she gets the most is, how are other groups meeting compliance requirements?.... It's indicative of the widespread doubt amongst practices, where they're hungry for clarity around what is and isnt compliant. Which is where technology can play a part in creating a framework that keeps your practice consistent. , Helena explains. Having seamlessly integrated systems will encourage robust compliance adherence and provide a range of efficiencies to your practice at the same time. If youd like to learn more, get in touch with Helena today: https://www.enzumo.com/about-us #enzumo #financialadvice #fintech

07.01.2022 When implementing new technology into your business, we always think there has to be: Something you need to improve The potential for an increase in profit The reason being is that technology is an investment and generally an ongoing cost to your business. Therefore, you need to increase the opportunity for profit, in order to make the investment worthwhile.... To do that, you need to understand your data. When you create a benchmark to improve from, it's much easier to track success and know where to make adjustments. Do you know the data points in your business? We find that many advice practices don't. Which means it can be hard to make decisions on major change without it. By data, we mean things like: How long it takes to produce an advice document What is the length of time for tasks to be completed? How long does it take to onboard a new client? What is the profit margin for each client? Know your numbers and the opportunity to growth can improve quickly. Want to learn how we can help you improve your business outcomes? Reach out to our team for a chat if you want to learn how we help clients #enzumo #financialadvice #fintech

07.01.2022 How would automation look in your practice if you had a wish list? The topic of automation is on the minds of many business owners at the moment. As with anything new, automation doesnt come without its challenges even the definition of automation can vary from business to business. For us, we determine it as the use of software to make intelligent decisions automatically.... By having an intelligent software system, one of the key benefits is it helps to manage risk For example, automating the fact-finding process is going to ensure the quality of your data. By using our Client Builder, youll have a single client data collection point, which removes the need for you or your team to do it. You can be far more responsive when you have an automated process, and we know with the current economic climate, clients are going to be very appreciative of this. Automation allows you to work faster and more efficiently - improving your clients overall experience. Who doesnt want that? Get in touch with our team to find out how we can partner with your practice and get your automations up to speed #enzumo #financialadvice #fintech

06.01.2022 There's been a big theme over the last few months of tidying up, filling gaps and fixing things that have been on the 'to do' list...and that's not just around the house! We're seeing many advice practices looking at their business gaps and what they need to change to move forward and grow. There are some common problem areas: We worry that some client tasks slip through the cracks... We're not confident that all compliance requirements are covered in documentation We take too long to edit and personalise advice docs We want more automation but we don't know how All issues that have built up over time due to disjointed technology and limited time to fix them. We love this type of practice because we already have the solutions ready to implement. But, we don't deliver a 'cookie cutter' solution. We audit your business, we get an understanding of your goals and we benchmark you to other practices. Then we work out the best solution for YOUR business. 2020 might be passing us in a blur, but what you doing to make sure 2021 is your best year yet? Give our team a call #enzumo #financialadvice #fintech

05.01.2022 We are well and truly a global community of mobile phone users. How reliant we are on our smartphones has been emphasised during the COVID crisis. Do you track your own mobile phone use each day? We know that consumers often make buying decisions via their phones now. They research, search for a specific product or service, then buy the product or book a service right there on the phone too. There's a growing expectation that all interactions with business can be made via the...ir handheld technology. As an advice practice, it's important to consider your own business innovation. Ask yourself questions around how you can offer services to clients in a more digitally connected way. Questions like: Can clients book appointments with you online? Do they have a mobile app for investment balances? Are you sending consumable content via mobile? Can they action investment decisions via an app? When the borders open up, some of your clients might be spending a lot more time on the road or overseas. Finding ways to interact with them that doesn't need to be face-to-face is going to be more of a necessity, than a 'nice to have'. Do you have a client-friendly smartphone solution? #enzumo #financialplanning #technology

05.01.2022 If all of your client files were audited tomorrow, how do you think your business would fair? Or does even the thought of an audit give you chills? We get that with all of the regulatory and legislative obligations to keep up with, we understand the stress of staying on top of it all. Plus we know that sometimes client files can slip through the cracks and not be 100% But, addressing the gaps in your business can only help you to learn and evolve your processes.... Which is why we partner with TIQK, an online service that pre-vets your advice documents and review reports. TIQK monitors critical risk indicators in written financial advice to prevent issues in future advice documents. They can even flag hard-to-detect issues like 'cookie-cutter' advice - something challenging to do at-scale with only human experts. TIQK augments your existing processes to reduce the risk of poor advice reaching the client. Quality improvement also means you can focus on client engagement and improve your business growth. If youd like to know more about how you can use this tool in your practice, reach out to the team for more information. https://www.enzumo.com/partners #enzumo #financialadvice #fintech

05.01.2022 Have you even thought about what could make your business more efficient? Sometimes it's hard to know where to start, plus what to try and improve. Plus, who has the time? There are certainly some simple steps you can take to make improvements, like:... Automate admin tasks: no one likes doing them and repetitive tasks can increase risk if missed Remove unnecessary meetings: use the Agile method and have a daily team 'stand up', focus on what has been done, what needs to be done and what challenges need addressing Look at digital integration and tech transformation and how it can help your business Understand the business blocks: is that you? A team member? Look for new workflows and processes to remove the issues Sometimes it's just easier to outsource it though. Work with someone who can assess your business, benchmark it and provide guidance on improvement. Business Health can help you do just that. Plus, they can help you maintain your new-found business health status in a variety of ways. Let the team help you get the right roadmap for your business. Check the in our bio to our Partners page #Enzumo #FinancialAdvice #Fintech

05.01.2022 Technology has given us the blessing of being able to work anywhere, anytime. With colleagues only a Slack message away, it's natural to feel like you're 'always-on' Opening the door into our personal lives, means the challenges of work can often make it hard to close the door again. While this issue was apparent before the pandemic, it has been magnified to an all-time high with our working-from-home situation. So, how do we set boundaries to sustain our productivity? Whil...e at the same time, taking care of our mental health. Willpower temptation to check your phone is a real thing. If you can resist a little longer each time, it will get easier. Boundaries don't give your willpower a chance to falter, set hard cut off times for checking emails at night. Communicate deliberately only send messages/emails that need to be sent. No-one appreciates an inbox full of emails which aren't completely necessary. An even better approach is to pick up the phone and have a chat with people more often. Staying connected can help you both, plus reduce the need for follow up emails or discussions. Let's make sure we're working to preserve our mental health a little each day #enzumo #financialadvice #fintech

04.01.2022 When managing advice document risk, it can be a labour-intensive task. Picking up errors can be difficult - could you miss them? Whether you're managing a process of vetting current documents or dealing with past advice documents provided to clients, human error is always a risk. Especially if you aren't using technology efficiently to manage advice templates. What if you could use technology to simplify and improve the process?... TIQK is a platform that assesses risk in SOA’s and is designed to reduce the time and effort for SOA auditing. It also increases the number of SOAs you can audit in a short space of time. How does it work? The technology rapidly assesses every SOA for critical regulatory requirements, Best Interest Duty and financial advisor behaviours. Not only does it pick up the issues in each document, it now provides you with better coaching points for advisers on what fits best practice for advice documents. We choose to partner with TIQK because we can see the benefits in technology increasing efficiency and reducing risk Link in our bio for the TIQK team to find out more. #enzumo #financialadvice #fintech

04.01.2022 How have you used the COVID period to reassess your business? We know that advice practices, AFSLs and other industry participants are all looking at their businesses in more detail. Wanting to know what they can do better for their clients and team members. They're getting a better understanding of things like:... Where can we work more 'on' the business? What investments do we need to make for growth? How can we grow profit AND increase value for clients? What can we outsource to be more efficient and effective? Many advice practice owners are thinking about how they move from great practitioner, to better business owner. They also want to show their clients how they're innovating, so that retention is easier and referrals can increase. To do this, you need to take bigger view of your business and understand where your gaps are and create a plan to implement the right changes. Now is the time to seek outside input, create a plan for growth and get a roadmap to implement it. 2021 is just around the corner now. Are you ready to make it your best year? #enzumo #financialadvice #fintech

04.01.2022 One of the things we love most about working with new clients is the ability to do a deep dive into their business. Often they've never done this before and we're navigating new ground. What's the common feedback we get? The process is enlightening. When you start digging deeper to get a complete picture of your business, you may find out some powerful information. It could be something simple and beneficial you've been missing or a risk management issue you weren't aware of.... Whatever it is, you now have the opportunity to implement some change. From our perspective, we get to really understand your business and then help to create a plan providing the best possible solution. So how do we actually do it? We start with a full day face-to-face workshop We review your existing advice delivery process and documentation We bench-mark your practice processes and identify gaps and weaknesses Then we map your advice delivery process Finally, we develop a technology and implementation road-map Then we're there to continue supporting you and your team. Sound like a good plan? Reach out and see if what we do could help your business grow in 2021 #enzumo #financialadvice #fintech

04.01.2022 With all the industry scrutiny and change we've seen, has compliance become easier to understand and implement? For many, it hasn't. We've ended up with more legislation that's often open to interpretation regarding what's compliant and what isn't. This can be really hard to navigate as a licensee or boutique AFSL. When it's not black and white, it means you need to have the best possible plan to protect your advisers and business.... One thing we know for sure, is you can't navigate this path alone. The businesses managing risk well are outsourcing non-core business activities like these. Let's face it, advisers and advice practices don't specialise in compliance, they excel at providing strategic advice to clients. However, compliance is a necessity for providing advice in the correct manner. Whether you think you have compliance nailed in your business, you could probably make improvements. As with many things in this industry, it's a case of the goal posts are often moving - which means regular reviews are necessary. Get your business ready for 2021 and start working with the right partners to help you get there #enzumo #financialplanning #technology

03.01.2022 As our clients are planning the year ahead and setting goals, we know that many are apprehensive about what the year holds. More lockdowns? Looming compliance changes? More government intervention?... But we don't know what the year may have in store for us. We can only deal with what we can control. We can focus on our client relationships, running better businesses and adding value to more people in need of quality advice. However, we need to ensure we're telling our clients what we do and how we do it - be front of mind. We also need to make sure we're educating our referral partners and presenting a good first impression to prospects. Social media is a great place to start. You just need to understand what your best client looks like and make sure your messaging hits them between the eyes. What are their problems? What are your solutions? It's hard to know where to start though. The team at Media Sixx can help with strategy, as well as social media content for advisers under their Socialisd brand. You can start taking action on social media straight away, even if you don't have the resources on your team Speak to the team today to find out more #Enzumo #FinancialAdvice #Fintech

03.01.2022 Intelliflo recently held their Change the Game conference online, due to the COVID disruptions. CEO of Intelliflo, Nick Eatock, discussed digital client engagement and how clients in the UK have said they will leave advisers in the future if the digital experience isn't up to scratch. "65% of advice clients would leave their adviser if there was a lack of a digital experience within the next five years." The experience in Australia could be heading that way too. COVID has onl...y escalated the potential for clients to demand more of a digital experience in all aspects of their life - interacting with their adviser included. So the message is clear. You need to get with the tech program. So, how can you improve your digital experience for clients? The capability is already here and available - client portals, engagement tools, cashflow management apps, plus more. You just need to decide how you will get on board and get it implemented simply and effectively. It's time to take steps towards advice innovation before you get left behind. Want to explore how technology can help you? Let our team map out your improvement solutions *Source: International-adviser.com #Enzumo #FinancialAdvice #Fintech

01.01.2022 . - When we start working with clients, we love to look at the numbers. Because numbers don't lie. Each client we integrate technology for goes through an analysis phase and we get to benchmark a range of data points within their business. One of those data points is SOA production time.... For many clients, the time it takes to produce an SOA document is far too long, very manual and open to risk. This means that the business isn't just running inefficiently, it's open to more risk than it should be. Potentially you're also delivering lower value service to clients without realising it. But isn't getting advice software about buying a package and off you go? All your problems will be solved? Unlikely. Success comes from working with the right partner and trusting in both the investment required and the time it takes to get it implemented correctly. We know when we have the metrics, we can provide the solutions you need. Like reducing SOA productions times from 8 to 2 hours, for one of our clients. Data is a powerful tool and if you have the patience to implement your advice software efficiently, you will see success earlier. Keen to know how we do it? Get in touch with us #enzumo #financialplanning #technology

01.01.2022 We hope you've started the Easter long weekend well, with a good dose of hot cross buns and an inappropriate amount of chocolate (we know the easter egg eating starts early ). Some of our clients will be enjoying trips away and family time, while others may have had their plans or trips scuttled due to recent events. Whatever the situation, we hope you find the opportunity to salvage this long weekend for some rest and relaxation. We hope your Easter plans keep you safe this... weekend and full of lots of quality chocolate eating time #enzumo #financialadvice #fintech