Timebank Review - how it works

Planning

This will schedule the review meetings throughout the year, look at which clients are already engaged on a service proposition and which are suitable for a proposition but not engaged as well as identifying those clients that don't suit any proposition.

• With a defined service proposition and CIP, we can overlay 'back book' clients and see who could benefit from moving to a new platform, and who should not be disrupted.
• Furthermore, projects can become much more predictable by viewing how many clients will be in each segment helping the firm plan capacity and resourcing.
• By creating rules and protocols, the firm retains control of the clients and receives a 'traffic light' classification:

1. Red Light - generally cannot move as part of the project
2. Amber Light - can move, but needs analysis due to potential for loss of benefits
3. Green Light - straight forward reregistration or non-tax implicated transfer
4. Blue Light - Already under CIP

Any crossed referenced data fields can be accommodated. An example may be a client over the age of 65 with an investment bond, a bond less than 5 years old, a low risk investor less than 3 years from retirement etc. The traffic light report is a simple document that isolates the data that is important to your project individually.

Cleanse Fact Find Information

• We will generate a 'pre review' pack that tells the client what the adviser knows about them and prompts the client to advise of changes.
• We can use this as an opportunity to bring an attitude to risk profile up to date.
• Most importantly, we will elicit real objectives from the client to be used by the adviser going forward.
• This will be produced as a document that can either be sent to the client or taken to a meeting with the client.

Produce the Review

• We will data harvest the existing policies to bring the information up to date.
• We can add any other functions required, such as cost comparison documents to help identify which clients could benefit from your investment strategies or cashflows, based on the agreed service proposition.
• We can design multiple review documents to suit multiple service propositions.
• We will generate a review document explaining the client's progress towards their objectives and outlining information on each holding for you to have an informed discussion with the client.
• This will be produced as a document that can either be sent to the client or taken to a meeting with the client.

Case Closed

• We will update the back office system.
• We can even migrate clients from one system to another as part of the process.
• We will create suitability reports for any new business.
• Schedule for the next review date.

Timebank Review is the perfect mix of bulk and individual. If you'd like to find out more about this managed service, let us know what your plans are and we can build you an individual project.