Engaging your accumulator clients
Step 1 of the FCA+ wealth creation strategy involves creating a budget and monitoring the results each month. FCA+ has the ability to electronically build a budget using our partners program Moneysoft. A budget is created in Moneysoft which has a data feed directly from your client’s bank account into the FCA+ program. FCA+ can sync directly into Moneysoft and outline what surplus the client has to allocate to debt reduction. The client is then fully informed if they are keeping to their budget whilst their adviser can manage problems areas caused by overspending and immediately address the issues.
Assuming the client has kept to the budget established by their adviser, the surplus available is the difference between income and expenditure. This will show as surplus funds in the client's personal debt facility with debt reduction now commencing. The adviser is then able to address whether the client is in a position to debt recycle (move bad debt to good debt) based on the equity created from the surplus income. This will allow the adviser to commence an investment strategy by using the newly established investment loan facility. It is then up to the adviser to determine the appropriate investment vehicle that suits the clients goals, needs and objectives.
Our experience has been that most “accumulator” clients are heavily focused on debt reduction. However, with the likelihood that most Australians will have to self-fund retirement income needs in the future, the adviser needs to address this issue sooner rather than later. FCA+ has a built-in retirement income analysis, outlining what level of lump sum a client needs, to provide the goal income needed in retirement. As the debt reduction progresses, assuming the client keeps to their agreed budget, surplus income is then recycled via the Investment Loan facility and added to the clients investment pool.
The best financial plan can be designed but if it ends up in the "bottom draw", the chances of it coming to fruition are next to none. FCA+ has developed a "track to plan" module which very easily outlines what impact each month's spending has had on the original plan - whether good or bad. The adviser can easily generate a report which outlines to the client:
As a result, your client is fully informed of their financial position, each and every month, which in turn keeps the client focused and disciplined. This creates the adviser's value proposition, your fee for service model is unlikely to ever be questioned due to the high touch nature of this strategy.
Quick, easy and efficient to use
With FCA+ you can proactively find the answers to help your clients reach their financial goals
Enables monthly contact with your clients, informing them of their progress
Have confidence that your clients data is stored safe and secure in our Certified Data center
Shaun started within the Financial Services Industry in 1987 with Colonial Mutual focusing on life insurance and savings plans. In 1992 Shaun made the decision to move into full Financial Planning advice and began studying for his DFP accreditation. In 2011 after 24 years in the industry, Shaun sold his Melbourne client base and moved to Gold Coast with his family.
As a Certified Financial Planner, one area that had concerned Shaun for many years was servicing the "accumulator" type client – the “Mums & Dads” who are going through the most expensive part of their lives with debt, children, education costs, etc. These are the clients who arguably received the least level of service from the industry yet require it the most.
In 2013, after moving his Financial Planning business to the Gold Coast, Shaun saw the potential and as a result FCA+ was born.
Christian has been working in software development for over 20 years.
Beginning with a staffing and scheduling project with the ANZ bank, Christian has worked in the banking, financial services, gaming and media industries leading teams in:
Together Christian & Shaun have developed a user friendly and functional tool – FCA+
Book in now for our online demonstration where you will learn how to effectively and efficiently engage your "accumulator" clients, potentially increasing your revenue and assisting your clients to reach their financial goals.
Contact Us TodayFCA+ will train you either in person or online, to not only use the program, but also how to sell the strategy to your clients.
More infoFCA+ will continually evolve to provide extra benefits to you going forward
Contact Us Each MonthMost "accumulator" clients do not have a proper financial plan in place. When will the client's debt be extinguished? When do they want to retire? How much does the client need? Can they afford to do so? FCA+ answers all these questions and provides potential solutions.
Are clients on track with their plan? Are they ahead or behind? With FCA+, "Track to Plan" enables you to provide reports to your clients every month.
You've got a football coach, tennis coach or a netball coach, but how many people have a personal Financial Coach? FCA+ allows you to easily become your clients new Personal Financial Coach.
FCA+ allows you to provide a true Financial Coaching solution for your clients, independent of any particular product
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