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
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 time 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 adviser as a critical friend and agree way forwards on each case
- The Timebank produce reports to present to the client
- The Timebank manage the back-office system
- The Timebank to work to predictable turnaround times
- The Timebank to 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 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