"We have a lot of 'legacy' clients we are not sure how to look after."

MiFID II put rules around some of the principles that RDR was trying to achieve.

As such, most clients that are engaged in a service proposition are committed, loyal clients. What, however, are you doing with those ‘legacy’ clients that are not engaged on a service proposition at the moment?

 

Since 2002, The Timebank have built a team with diverse skills, experiences and knowledge to help clients with unique jobs.

The Timebank can be a flexible addition to your team. This is far more effective than employing someone to do the same job, particularly if it is a short-term project or job that doesn’t need a full-time employee.

Case study

Customer profile

Large, multi-office, multi-adviser firm with national coverage.

Enormous client bank, including old ‘transactional’ clients that have not been engaged in the ongoing servicing model.

Objective

  • To assess the firm’s ‘back book’.
  • To identify clients that would benefit from being re-engaged in the firm’s service propositions.
  • To produce reports for the advisers to help with the re-engagement.
  • To help disengage with those clients for whom the service is not appropriate.

Delivery

To assess the firm’s ‘back book’.

  • We accessed the back-office data on all clients in the cohort.
  • We reviewed the underlying client holdings.

 

To identify clients that would benefit from being re-engaged in the firm’s service propositions.

  • We created a ‘red, amber, green’ categorisation system as to whether a client matches the service propositions and the CIP.
  • We created an action plan to contact the clients.

 

To produce reports for the advisers to help with the re-engagement.

  • We designed letters and reports specifically for this project.
  • We contacted the clients to introduce the service proposition.
  • We wrote suitability reports to engage the client.
  • We completed and processed application forms.
  • We updated the back-office system.

 

To help disengage with those clients for whom the service is not appropriate.

  • We designed letters explaining to the clients why the adviser is not able to provide services to them anymore, directing them to alternative, useful resources.
  • We updated the back-office system.

Ready to proceed?

This sounds like me. I would like to know a bit more about The Timebank before going ahead

Fantastic!

We mould our service to our clients, so we will give you a call and listen to your needs to make sure we can help you.

In the meantime, we will start off by giving you complimentary access to The Timebank Foundations Programme.

Being a guest client gives you the following benefits:

  • FAQs about the service
  • Due Diligence on us as a company
  • Access to our PRODMatcher tool, which solves the PROD problem
  • Access to our Due Diligence reports on providers and manufacturers
  • News, hints, tips and opinions sent directly to your inbox
  • Access to ongoing CPD video series

This sounds like me, but I am not ready to get going just yet

Timing is everything, we understand that.

We really want to be here when you are ready, so in the meantime, we would like to give you complementary access to The Timebank Foundations Programme.

This gives you access to a range of benefits:

  • FAQs about the service
  • Due Diligence on us as a company
  • Access to our PRODMatcher tool, which solves the PROD problem
  • Access to our Due Diligence reports on providers and manufacturers
  • News, hints, tips and opinions sent directly to your inbox
  • Access to ongoing CPD video series