Provisio increases client engagement with software add-ons

Advice software specialist, Provisio Technologies, has introduced a range of new tools designed to increase engagement between financial advisers and clients.

Cameron O’Sullivan, CEO of Provisio said client engagement should be high on the agenda following a CoreData survey which revealed that one in three clients are considering leaving their adviser – and that one quarter of these had not had any contact from their adviser in over a year.

“The survey showed that clients crave more contact and attention from their advisers. It also revealed that advisers can’t afford to ignore clients and should be looking at ways to create meaningful contact.”

He said that advice software can play a role. “Advice software can be a valuable client engagement tool, not just a back-office modeling and SoA generation tool.

“Used properly, the software can bring the client along with you and help them better monitor and appreciate their financial strategies.”

Provisio has introduced the capacity to produce strategy papers, such as summary documents and review documents. “Advisers can now use the software to generate dedicated review documents, built around the client’s retirement income projections.

“This kind of documentation can become a staple of any client meeting and can form the basis of regular client communication. It’s also a good starting point for any client liaison.”

Provisio’s focus on client engagement includes the launch of online web and tablet advice tools. These tools can be embedded in an adviser’s existing website to provide education, engagement and generate referrals for advisors to follow up an online enquiry from a client.

The referral forwards a client’s details and initial calculations to an adviser who then follows up by email or phone and arranges a meeting. The calculations can be viewed in the adviser’s view of Provisio to refine the strategy and follow through to producing the advice documents. “Many advice clients like to work this way and do their own research before making an appointment.

“Advisers like it because they know a potential client is genuinely interested. This just makes the whole process much easier.”