While the professional intelligence of financial advisers (product knowledge, tax, strategy, etc) is important. Our business intelligence provides significantly more benefit to our business and, ultimately, our clients. Unfortunately, there’s been very little focus in this area.
By monitoring time spent on ongoing service activities, financial planning businesses’ can quickly identify higher paying clients who are not receiving adequate attention or lower paying clients requiring too much attention. Business and/or fee adjustments can then be made to ensure both customer expectations and business profitability are kept at desired levels.
See how FinPal’s financial planning software will benefit from the upcoming release of Microsoft’s Dynamics 365
While the concept of Business Intelligence (BI) has been around a long time in large organisations, it is a relatively new term for most small…