Show me what you have done for other clients like me
This sounds like me, but I am not ready to get going just yet
This sounds like me. I would like to know a bit more about The Timebank before going ahead
Sole trader IFA based in the North of England.
Excellent client relationship built up over years of working in a large national IFA before setting up their own business.
Directly authorised with external compliance support.
Work with a part time administrator.
Intending to grow the business through referrals as a result of delivering an amazing client experience.
Doesn’t want the bother of employing a paraplanner.
Weight of compliance is a worry.
Wants to spend as much time as possible with clients.
Starting to get a backlog with work and worried it will affect client sentiment.
- Adviser and paraplanner have a weekly call to discuss work.
- The Timebank support team transcribe meeting recordings (video or audio) into a consistent meeting note format.
- The Timebank support team process authority letters and data harvest to obtain policy information.
- The Timebank paraplanners undertake research and challenge the adviser as a critical friend and agree the way forwards on each case.
- The Timebank produce reports to present to the client.
- The Timebank manage the back-office system.
- The Timebank work to predictable turnaround times.
- The Timebank deliver high quality of cases.
To help the adviser get ahead of themselves rather than chasing their tail all the time.
- Within 3 months, we had helped the adviser catch up with their backlog.
- To prevent a backlog reoccurring, we acted as a quasi-PA, calling the adviser regularly and making sure they were getting through their tasks and not leaving things to fester on their desk.
To work to predictable turnaround times
- We were targeted to produce transfer cases in 10 days and non-transfer cases in 8 days.
- We achieved both targets on all cases.
To deliver high quality of cases
We achieved an adviser satisfaction grading of 100% of cases as satisfied or very satisfied.
Customer experience outcome and satisfaction
- We provided the firm with additional time, skills, knowledge and experience so that they could concentrate on more important tasks.
- This results in the adviser having more time to spend developing the business and sitting down face to face with clients.
- The backlog was cleared within in a month.
- The firm decided to re-deploy the part time administrator into a client relationship manager role.
- As a result, regular, disciplined client review meetings were organised in advance.
- Business levels have increased.
- The firm may be welcoming a new adviser to join the team soon.
- Clients of the firm continue to receive excellent service.
An example of the feedback from the client:
Excellent report- so much better than I could have produced – and explained it perfectly and done in quick time – very happy
Ready to proceed?