Purpose
To define the end-to-end advice process from first contact through to implementation and ongoing review.
Overview
A structured and review-focused advice framework
The process is designed to ensure that each client receives a consistent, professional, and well-documented service experience. The practice is primarily referral-based and review-focused, with particular emphasis on servicing an existing book of investment, income plan, and living annuity clients.
Formal process document
Client focus
Professional engagement, clear communication, documented advice, and proactive annual reviews.
Core systems
- AdviceTech CRM
- Beeswax assessment
- Provider systems
- QuickSign, where required
Communication channels
Email, telephone, WhatsApp, face-to-face meetings, and Microsoft Teams, as appropriate.
Section 1
Establishing and defining the client-planner relationship
This stage governs first contact, suitability assessment, formal introduction, disclosure, and client acceptance before the advice process proceeds.
3 processes
Referral received and initial contact
New business currently arises predominantly through referrals from existing clients. Once a referral is received, contact is made by telephone, WhatsApp, or email in order to introduce the practice, establish the nature of the enquiry, and determine whether a meeting would be appropriate.
Fit assessment and meeting arrangement
Once it has been established that assistance may be provided, an introductory meeting is arranged. The preferred format is face to face, as this generally supports stronger relationship-building and a more effective initial discussion. Where necessary, meetings are held via WhatsApp call or Microsoft Teams. The purpose of the meeting is to introduce the advice process, provide initial documents, and determine whether the client should proceed into formal engagement.
Initial meeting, disclosure, and client acceptance
During the first formal meeting, the relevant introductory letters and compliance documents are provided, the nature of the advice process is explained, and the required client acceptance checks are completed. This includes the Beeswax assessment and screening for anti-money laundering concerns, sanctions or watchlist matches, and any other factor that may prevent the relationship from proceeding.
Section 2
Gathering client data, including goals
Once the client has been accepted, their records, objectives, supporting documentation, and verification requirements are gathered and structured to support sound advice.
3 processes
Client onboarding on AdviceTech
Following acceptance, the client is loaded onto AdviceTech CRM so that all personal details, records, documents, and future interactions are maintained in a structured and consistent manner. This forms the operational foundation of both the advice process and the ongoing review cycle.
Establishing the need and gathering financial information
After the client has been loaded on AdviceTech, the specific need is established. This includes identifying why the client has approached the practice, what their goals and priorities are, what financial needs must be addressed, and what their current position looks like. All relevant information and supporting documentation required to understand the case properly are then collected.
Document collection and FICA, where required
All outstanding supporting documentation required for advice and implementation is collected. Where required by the nature of the relationship, provider requirements, or internal compliance process, FICA and related verification requirements are completed. Follow-up is conducted through email, telephone, and WhatsApp until all required documentation has been received.
Section 3
Analysing and evaluating the client’s financial status
The client’s existing position is reviewed, needs and gaps are identified, and a suitable recommendation is formulated on the basis of the analysis performed.
3 processes
Analysis of current position
Once the relevant information has been collected, the client’s current financial position is analysed. This includes reviewing existing investments, income plans, living annuities, and any other relevant products or planning arrangements. The objective is to determine whether the present position aligns with the client’s needs and whether any adjustment, improvement, or corrective action may be required.
Needs analysis and gap identification
Following the review of the current position, the gap between the client’s present arrangements and their actual needs or objectives is identified. This may involve investment restructuring, income planning considerations, living annuity sustainability assessments, or other financial planning interventions relevant to the client’s circumstances.
Preparation for recommendation
Based on the outcome of the analysis, the most suitable recommendation or plan is prepared. The recommendation is developed with reference to the client’s objectives, financial situation, and the practicality of implementation.
Section 4
Developing and presenting financial planning recommendations and alternatives
Recommendations are presented clearly, alternative options are addressed where relevant, and client instruction is obtained before implementation is authorised.
3 processes
Proposing the plan
Once the analysis has been completed, the proposed plan is presented to the client. This includes a clear explanation of what is recommended, why the recommendation has been made, and how it addresses the identified need. The relevant product or planning solution, expected outcome, and key considerations are discussed in a professional and comprehensible manner.
Discussing alternatives and obtaining client instruction
Where appropriate, alternative options are discussed or the reasons for preferring a particular course of action are explained. Clear client instruction is then obtained regarding whether to proceed with the recommendation. If changes are required, the recommendation is amended accordingly.
Preparing for implementation
Once the client has agreed to proceed, the file is prepared for implementation by ensuring that the recommendation, forms, supporting documentation, and compliance requirements are complete and in order.
Section 5
Implementing the financial planning recommendations
Agreed recommendations are submitted and tracked through to activation, with outstanding requirements managed proactively and final implementation confirmed with the client.
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Submitting and implementing the plan
The agreed plan is implemented through submission of the relevant applications, instructions, or amendments. Depending on the advice provided, this may include investments, income plans, living annuities, or related transactions.
Tracking outstanding requirements and follow-up
Following submission, all outstanding requirements, provider queries, and missing documentation are tracked and followed up until the plan becomes active. This often involves repeated contact through telephone, email, and WhatsApp to prevent avoidable implementation delays.
Confirmation that the plan is active
Once the plan is active, implementation is confirmed with the client and the relevant confirmation documents, schedules, or statements are placed on file. AdviceTech is then updated to reflect the completed outcome.
Section 6
Monitoring the financial planning recommendations
Ongoing servicing centres on annual reviews, regular scheduling, and continued responsiveness to client requests and changes in circumstances.
3 processes
Scheduling annual reviews
Reviews represent a core component of the practice. As the current client base includes a substantial number of investment, income plan, and living annuity clients, annual review scheduling on AdviceTech is essential, both for newly implemented cases and for existing clients already on the book.
Conducting reviews
At each review meeting, the suitability of the client’s investment, income plan, or living annuity is assessed in light of market conditions, income needs, legislative developments, and changes in personal circumstances. The review may result in no change, a recommendation for adjustment, or the commencement of a new advice cycle.
Ongoing servicing and client communication
In addition to formal annual reviews, ongoing client requests received by email, telephone, and WhatsApp are addressed as part of regular servicing. These may relate to general service matters, product queries, document requests, changes in circumstance, or matters that require further advice.