P is for Planning. Not just advice, but time back on your client’s clock.

We live in a busy world. Many people are struggling to keep up with the demands of day-to-day life. And as such, more of us identify as being time-poor. In order to save time on the things we don’t enjoy, and create time for what’s important to us, outsourcing has an attractive offering. Whether it’s a house-cleaner, dog walker, online shopping, home-delivered groceries, or financial advice, people are getting savvier about how they allocate their time. By outsourcing financial planning to a qualified financial adviser, clients not only get direct benefits through investment value, but they get back precious time to focus on living and enjoying their life.

The financial administration burden – quantify time saved

As financial advisers, we use our knowledge and expertise to deliver client value by creating a bespoke financial plan tailored to our clients’ individual circumstances. Beyond the creation of a plan, we help clients save time by monitoring and making recommended adjustments to their investments, ongoing savings and contributions to ensure they have the right insurance in place.

A financial plan is a key element in helping investors identify and reach their goals. But there is a lot of research and knowledge that goes on behind the scenes.

Use the following table to guide your conversation when articulating the time value you offer to your clients.

How many hours would this take?

Identifying your goals, circumstances and preferences
What are your personal goals? How do you translate that into financial goals?

Reviewing your current budget and savings plans

Centralising and evaluating your overall financial position
Understand your current wealth position including superannuation accounts, insurance, personal or business bank accounts and mortgages, insurances, Centrelink needs. You may have offshore super or have unique family circumstances to consider.

Modelling your retirement position
Based on your current balance, income, age and what your retirement goals are, identify whether you are on track or what you need to do to be on track.

Knowing what investment, platform and insurance solutions are out there
There are thousands of investment solutions available to choose from. Advisers have access to specialist tools to evaluate and identify which of those is best for your needs.

Documenting a plan and managing your financial paperwork
Delivering a consolidated plan of what you need to know and what, if anything, you need to do.

Implementing a plan
This is the time taken to fill in application forms to set-up investment portfolios, apply for insurance, manage the follow-up paper work and other administration needs.

Reviewing and tracking to your plan
Once you have a plan, you need to ensure that what you put down in the plan is still relevant over time. Have any of your circumstances changed, are you still in the right investments, do you need to save more, increase your insurance, etc?


Click here to download the editable worksheet.

Be clear and upfront on the time value you offer. Don’t minimise it or give it away!

  • Always provide a detailed list of services that may or may not be included in the fee charged.
  • In considering the hours it would take clients to take these steps it is also important to think about the knowledge needed to do it successfully. And that is just coming up with and managing the plan.
  • While we don’t like to consider what could go wrong, what happens in the event they need to claim on their insurance, or they go through a redundancy or a family issue that changes their financial circumstances? Advisers can take much of the burden in these times of crisis allowing their clients to focus on the things that are important to them.

The value of an adviser should not be under-estimated. It is important to spell out not only the cost-savings, but the time-savings clients gain by outsourcing their financial planning to a qualified financial adviser. They get access to expertise and skill, a suite of financial planning tools and advice suited to their individual goals and circumstances, a release from the financial burden or worry that comes with financial planning (particularly when there are unforeseen market events), a security that their future is being taken care of, and most importantly time – to spend doing what they love most - living your best life.

Read more in our 2019 Value of an Adviser Report.