Tuesday, December 13, 2011
From scalable opt-in solutions to monitoring at-risk clients and client service management reporting, XPLAN allows you to easily set-up, monitor and report on your ongoing client service proposition.
XPLAN is enabled to help advisers efficiently manage the offer and acceptance of client service propositions, which includes the “opt-in” requirements drafted in the FOFA reforms. By leveraging XPLAN’s client management capabilities, the client service aspect of your business can be automated and efficient while still providing highly personalised and professional client communication.
Opt-in status & history
Each client record now has a current opt-in status and date to next review the status. A complete history of changes made to the status and date is retained. With clients for whom you manage multiple entities like trusts and SMSFs, you just need to link them together and all entities will be updated at once. A status can be updated manually within the normal adviser interface in client online access or by way of response email from your client.
Scalable, digital solutions
To provide a scalable approach to managing acceptance of your service offer, clients can now opt-in using the Client Online Access portal. You can email a notification to your client that your services are due for renewal and let them log-in to their own secure portal to approve your ongoing service, providing a digital audit trail for future reference. There is also the ability to provide a summary of the services provided over the last 12 months and fees charged for the previous period. Service benchmarks also allow you to compare the services offered vs services taken up for a given period.
Opt-in by clicking a link in an email
Using XPLAN’s in-built functionality allows you to send individualised, professional looking emails in which you can ask your client to click on a link to register their acceptance of your service offer.
XPLAN’s capability to automate activity means that you can also send an acknowledgement email whenever the client opts in or trigger new workflow.
Fee disclosure without a calculator
In order to summarise the fees received for services since the last review, you can generate documents and emails to customers that include a summary of revenue activity using data direct from the Commpay revenue management system.
Renewals and monitoring lapses
For a real-time, daily check of recent and upcoming opt-in activity XPLAN’s dashboard provides widgets which give you a snapshot view of who has anniversaries coming up, recent status changes by client and number of status changes per adviser.
Management reporting caters for the need to capture what is happening on a single adviser or a single practice all the way up to trend analysis on multiple practices or across an entire network.