Advice & Suitability

When was the last time you stepped back and took a good, hard look at your shop windows?

Bear with me here. My marketing career began as a 17-year-old shop assistant arranging stylish new shoes at Dorothy Perkins—affectionately known as Dotty P’s. The first task each day was to inspect the window display. Did it look inviting? Did it reflect current trends? Was it clean? Was the messaging accurate and consistent?

Fast forward 20 years, and I still apply these principles when evaluating our website and all of We Complement’s digital marketing content. By reassessing your digital marketing, you ensure that clients and prospective clients leave your “shop” with a positive, lasting impression.

At 17, I had mastered the art of selling shoes. My boss wisely told me, “If you can sell shoes, you can sell anything,” and she was right. With more vacant units on the high street, I transitioned from shop work to my current role at We Complement.

The lessons from my Dotty P days are just as relevant in financial services as they were in retail. Here are my tips to attract a steady stream of clients to your “shop”:

1. Embrace Social Media

Did you know the average person spends two hours and 24 minutes on social media daily? Find out where your ideal client spends their time and join them there. For professionals, LinkedIn might be ideal. For a younger demographic, Instagram or TikTok could be more effective.

Similarly, in retail, stores offering complementary items tend to be located close together. People like having everything they need within easy reach!

2. Plan Your Strategy

Jumping into marketing activities without a plan is like writing a story without knowing the ending. How can you identify what works and what doesn’t? At a minimum, document:

• Your main goal
• Areas where you might need help
• The amount of time you can dedicate
• The methods you plan to use

What’s the point of having stock in the window if you don’t have enough to sell?

3. Know Your Competitors

Understanding your market position and differentiating yourself from competitors will help tailor your marketing. If you serve high-net-worth clients, focus on issues relevant to them. If your clients have modest incomes, their concerns will differ.

For instance, if you specialise in funding long-term care, your content should resonate more with the recipients’ middle-aged children than with the care recipients themselves.

If it’s wedding or prom season, I’m showcasing occasion wear in my shop window, not jeans and boots.

4. Improve Your Website

A clunky website that isn’t optimised for mobile users and fails to answer client questions will hinder your efforts. Even minor issues like spelling mistakes or broken links can drive potential clients away.

Think of it as scrubbing sticky fingerprints off windows—it’s about making a good first impression.

5. Build a Strong Social Media Presence

Regardless of the platform, post consistently to keep your brand visible. Prioritise quality over quantity by sharing valuable content that informs, entertains, or persuades. Repurpose relevant content and share interesting posts. Mix up your content with carousels, static images, and videos.

Change your windows weekly to keep them eye-catching and fresh.

6. Show Your Existing Clients Some Love

Send regular newsletters to keep clients informed of industry news. Check in with friendly emails each quarter. Remember birthdays, and send Christmas cards. Diarise major milestones and acknowledge them—sending a graduation card to a client’s child, for example, can make you the most thoughtful adviser they know.

Avoid making every email sales-focused. A subtle check-in can remind clients it’s time for another appointment without appearing pushy. Always thank customers, even if they haven’t purchased—they’ll remember it when they return.

These insights should encourage you to view your digital marketing from your client’s perspective. What lessons from your past are still relevant today?

Ready to Transform Your Digital Marketing?

If you’re looking to elevate your digital marketing game, We Complement is here to help. Our expert team can assist with everything from social media strategies to website optimisation, ensuring your digital presence is as compelling and effective as possible. Contact us today to learn more about our tailored marketing support services and start attracting more clients to your business.

Ever noticed how even the simplest tasks in our daily lives are comprised of a series of steps? From brewing that essential morning coffee to navigating through rush hour traffic, processes surround us. Yet, it’s in our professional environments where process mapping truly shines.

Your clients expectations are constantly evolving, so staying ahead requires more than just delivering exceptional products or services. It demands a keen focus on the inner workings of your business, ensuring that every cog in the machine is well-oiled and functioning optimally.

Process mapping is akin to creating a visual storyboard of workflows and tasks. While it may seem mundane to dissect personal routines, in a collaborative setting, process maps become invaluable tools, bringing clarity and efficiency to everyone involved.

Delving deep into a process reveals its intricacies, allowing businesses to pinpoint inefficiencies and bottlenecks ripe for improvement. Not only does this foster clarity in roles and responsibilities, but it also streamlines operations, potentially saving both time and resources.

Tidying up

This is where the concept of “housekeeping” comes into play. Just like maintaining a clean and organised home, businesses need to regularly tend to their internal affairs to operate smoothly and efficiently. However, amidst the hustle and bustle of daily operations, these “housekeeping” tasks often get pushed to the back burner, overshadowed by more pressing priorities.

Neglecting these tasks can have far-reaching consequences. From unchecked expenses draining resources to outdated processes hindering productivity, the repercussions of overlooking business housekeeping can be significant. That’s why it’s crucial to carve out dedicated time and resources to address these matters proactively.

By leveraging technology, such as CRM systems, businesses can streamline their housekeeping efforts, automating reminders and tracking progress with ease. Whether it’s conducting regular audits of expenses, updating internal documentation, or reviewing IT systems, having a robust system in place ensures that nothing slips through the cracks.

Consider setting aside dedicated time, like a half-day session, to align your team on essential housekeeping tasks. Define the checks, frequency, and responsibilities clearly, then integrate them into your CRM system. This not only automates reminders but also ensures continuity, even in the absence of specific team members. Involving your team in the housekeeping process fosters a sense of ownership and accountability, driving engagement and efficiency across the organisation. By collectively identifying pain points and implementing solutions, you not only improve day-to-day operations but also cultivate a culture of continuous improvement.

At We Complement, we understand the importance of meticulous housekeeping in driving organisational success. Let’s collaborate to integrate these practices seamlessly into your workflow. Give us a call, and let’s chart your course towards efficiency and success together.

So, don’t let your business drown in a sea of clutter and inefficiency. Take the time to roll up your sleeves, get down and dirty, and clean up those everyday tasks. Your bottom line—and your sanity—will thank you for it.

Welcome to this week’s newsletter! At We Complement, we’re dedicated to offering comprehensive support to financial advisory firms like yours. Our approach transcends mere reporting; we strive to seamlessly integrate into your operations, ensuring perfect alignment with your goals and values. This week, we’re excited to share insights on 5 things we need to know when you begin a partnership with We Complement.

1. We need to know your Centralised Investment Proposition and Centralised Advice Framework

As part of our thorough onboarding process, we prioritise understanding your business holistically. By delving into your central processes, such as the Centralised Investment Proposition (CIP) and Centralised Advice Framework (CAF), we seek to enhance efficiency and consistency in your service delivery. These frameworks not only satisfy regulatory requirements but also instill confidence in your clients, fostering long-term trust and loyalty.

2. Risk profiling tools

Moreover, our expertise extends to risk profiling procedures, where we guide you in selecting the most suitable tools and documenting crucial client discussions. This meticulous approach ensures that your advisory decisions are well-informed and compliant with industry standards.

3. Annual Review process & Templates

In our recent poll conducted this week, we discovered that a significant 60% of advisers believe their Annual Review process could benefit from enhancements. As part of our onboarding procedure, we’ll request to review your templates to better understand your current approach. At We Complement, we understand the pivotal role of customisation in the annual review process. That’s why our in-house templates are designed to go beyond the ordinary, providing comprehensive explanations that not only resonate with clients but also fulfill stringent compliance requirements.

4. Are your client files in a good place?

Additionally, our collaboration extends to your internal compliance and file-checking procedures. By aligning with your established protocols, we guarantee that our work meets your compliance expectations, minimising risks and enhancing operational efficiency.

5. Where do we fit in amongst your in-house team?

Integrating closely with your administrative team streamlines processes, allowing you to focus on delivering exceptional financial planning services. This collaborative approach improves client satisfaction and cultivates a culture of excellence within your firm.

At We Complement, our commitment to your success extends beyond the initial onboarding process. We view our partnership as a continuous journey, where we remain dedicated to supporting your firm at every stage of growth and evolution. Whether you’re navigating regulatory changes, expanding your client base, or exploring new avenues for innovation, we’re here to provide strategic guidance and practical solutions. Our team of experienced professionals stays abreast of industry trends and best practices, ensuring that our support remains relevant and valuable in an ever-changing landscape. By choosing to collaborate with We Complement you gain a trusted ally who is invested in your long-term success.

If you would like to discuss this and other ways your business could benefit from working with us, please contact us online or call 01472 728 030.

As we begin this new tax year, it is crucial to start with the right questions. Reflecting on the past three months, was it business as usual with your annual reviews? Or did last-minute ISA top-ups from the usual suspects consume your time? If the latter resonates, you might face a significant backlog. So, how do you plan on catching up?

Financial advisers are required by the regulator to provide clients with full suitability reviews annually, ensuring compliance with regulations (FCA COBs 9A 3.6-9).

If you’re finding yourself falling behind, catching up without the right resources can be daunting. This week’s post aims to help you kick off on the right foot by establishing the correct processes. Allocate time amidst the post-tax year-end lull to contemplate your client’s annual review process.

Proactive Scheduling:Ever wondered about the ideal timing for contacting clients to schedule review bookings? We’ve honed our approach and found that reaching out one month in advance works best. This strategic timeframe allows for ample preparation on both ends. Ensuring both you and your client are primed for a productive discussion that drives progress and success.

Preparation: When preparing for client meetings, we view it as a two-part task. Part one begins with our initial contact to arrange the review meeting. During this phase, we provide the most recent compliance documents and request any additional information necessary for the meeting or file.

Once the meeting is scheduled, we move on to part two of our preparation process. This involves assembling our client meeting packs, a task that demands meticulous attention to detail. Within these packs, we include comprehensive summaries of portfolio performance, updated financial goals, and personalised recommendations. All of this information needs to be pulled together just before the meeting to ensure that clients receive the most up-to-date insights and advice tailored to their needs.

By starting this preparation process early, each review is conducted with thoroughness and precision, ultimately delivering maximum value to your clients.

Efficient Tracking: To ensure seamless operations, a robust tracking system is indispensable. At We Complement, we’ve designed a sophisticated solution that goes beyond keeping tabs on upcoming reviews. Our system meticulously highlights any overdue appointments, providing clarity on each client’s review journey and the subsequent steps required. This proactive approach empowers you and your team to maintain full control over your workload, ensuring that every client receives the attention they deserve without the risk of falling through the cracks.

Timely Documentation: It is worthwhile for advisers to set aside a weekly ‘admin day’, giving themselves time to follow-up meetings promptly with the correct documentation or handing over to a paraplanner. We’ve heard of clients waiting months for the review letter. By prioritising documentation and streamlining the delivery process, you can enhance client satisfaction and build trust in your services.

Back-Office Systems: We advise our partner firms to leverage their back-office systems to track due reviews, and sign off upon delivery. If your system needs enhancements to alert you of impending reviews, We Complementcan implement these workflows seamlessly.

Do you have a process in place that monitors your review process? It’s crucial to extract the data, ensuring a high-level view of your company’s performance. Remember, failure to deliver reviews correctly could lead to complaints and fee reimbursements.

In small or medium-sized businesses, we understand you can be pulled in every direction. That’s where we come in. We work with firms to establish review processes, manage the flow of reviews, book appointments, and prepare review packs. Our paraplanners offer technical support to you and your advisers, even if it’s just to discuss a case.

If internal resources are lacking, let us be the extension of your team that you need. With We Complement, you can ensure your clients receive the attention they deserve while optimising your operational efficiency.