Kemosabe Capital Case Study
Richard’s team is now producing advice in 90 minutes and it’s only going to get faster from here.
Brief
As a financial planner, Richard realised that the time it took his team to onboard new clients and create advice was limiting his business’s profitability. He wanted to streamline the advice creation process and produce Statements of Advice (SoAs) more efficiently. However, he didn’t want to switch CRMs and needed a solution that did not disrupt his business.
After being referred to Asendium by a colleague, Richard decided to trial the software. He was amazed at how straightforward and intuitive the solution was to use, and how it could easily integrate into his existing processes without any disruptions.
“Asendium came to me and promised me deeper integrations and faster SoAs. They’ve delivered on that promise and my results speak for themselves.”
Kemosabe Capital
Richard McGrath
Action
The Technology Review
Integrations are a big part of Richard’s technology review process, and Asendium’s deep 2-way integration with Xplan meant that he could reduce the manual transfer of data from his Fact Finding process. Asendium’s monthly subscription comes with Omnium and ProductRex, making Wealth Solver and Risk Researcher redundant and further reducing operational costs. Although Asendium does not currently have integrations with modelling/projection tools, projections can be copied and pasted into the SoA from Asendium in less than a minute. This simple task is made possible by the overall time savings Asendium provides.
The SoA
Asendium’s standard SoA met Kemosabe’s needs, allowing him to get started from day one. The post-editing time for his team was significantly reduced from 5 hours in Xplan to under 1 hour in Asendium. This is largely due to the system’s ability to generate SoAs with the same level of high quality and detail regardless of the user. Our financial planning software enabled Richard’s team to onboard new clients more efficiently without having to switch CRMs.
The Learning Curve
The learning curve for Asendium was incredibly simple and straightforward. Richard’s Representative and paraplanner were guided through the automation software on what and where to enter the data every step of the way. The Asendium team offered several training sessions to ensure that his team was optimising our digital advice software and using it appropriately for the types of advice they produced. Although the first case in Asendium took 8 hours, Richard was surprised to find that after a further two cases in Asendium, his team could produce advice in 90 minutes (excluding projections). This is a significant improvement from the 13 hours it previously took them in Xplan.
The Communication and Support
The communication and support at Asendium was a refreshing experience. Unlike the other technologies they had previously used, the team at Asendium is always reachable and friendly. Any challenges or queries was encountered were quickly resolved by the team.
Results
Asendium has allowed Richard’s team to spend less time on SoAs and more time onboarding new clients.
In conclusion, Asendium proved to be the solution that Richard’s business needed to streamline the advice creation process and increase profitability. With deep integrations with Xplan, Asendium reduced the manual transfer of data and eliminated the need for additional operational costs. The standard SoA met their needs, and the learning curve was simple and straightforward. The communication and support at Asendium was exceptional, with the team always reachable and friendly.
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