Behind the scenes: How AdviceBridge produces client reports in seconds

An annual report with contents spilling out

By AdviceBridge

One significant advantage of using AdviceBridge is the speed and efficiency with which it can produce client-ready reports. This includes both the recommendation report and annual review.

All current reporting systems are limited in their abilities as they are not able to process advice recommendations, unlike AdviceBridge. 

When “competitor” firms say that reporting is automated, it’s often very basic, at best pulling data, usually working to a template but not necessarily incorporating the vital analysis required for a financial planning report.

This is where AdviceBridge differs. 

By automating the time-consuming task of analysing the client’s holdings and populating an annual review or recommendation report, AdviceBridge removes much of the heavy lifting usually carried out by both advisers and paraplanners.

Client-ready recommendation reports generated automatically

Once the advice engine has identified the most appropriate wrap platform, tax wrappers, investment firms, or investment solutions for the client, the recommendation report can be produced at the touch of a button.

Reports can be generated automatically with no need to copy and paste, another unique time-saving benefit. Again, this solution removes monotonous tasks for all those involved in the process, leaving more time to focus on much more relevant tasks.

And, if you need to make a change, such as selecting a different platform, or excluding an investment manager or product, you can make these amends and ask the system to recalibrate the report, taking your changes into account. 

You can make multiple changes, without limitation, and once the advice engine has processed and analysed any manual changes made, it instantly produces a recommendation report, without the need for additional analysis or human input – no templates, no re-keying. 

Of course, the platform can do exactly the same for annual and interim reviews, and even for the client onboarding process, cutting hours if not days from these processes. 

Indeed, a typical advice firm takes anywhere between 25 and 35 hours to onboard a prospective client. Using AdviceBridge this can be reduced to under five hours – a time cost saving of over 80%. 

Financial planning reports for individuals and couples

The AdviceBridge platform also has the capability to generate financial advice for couples who wish to plan for retirement jointly. 

Although each client will have their own login and dashboard pertaining to their own personal finances, planning for retirement can be done jointly. As a result, all goals are joint and decumulation is calculated on a joint basis by blending income from both parties’ savings and investments. 

Ultimately, when advisers are working with a couple, the system will generate one report for the couple to understand where they are at and what steps they may need to take to stay on track to enjoy their desired retirement. 

Annual reports produced quickly, with little human intervention required

Just as it would for a new client, the system analyses your existing clients’ entire holdings. 

However, the client-facing app can also prompt the client to update their information prior to their annual review. Then, the advice engine will analyse any new information before making a recommendation and producing the annual report.

The system can also undertake wider, more complex tasks.

For example, for a high net worth accumulating client in their early 40s the system may advise that they stop contributing so much to their pension and divert money to a GIA instead. Even with the Lifetime Allowance expected to be abolished in a future Finance Bill, with the maximum Pension Commencement Lump Sum (PCLS) being retained at its current level of £268,275, this can prove to be a useful instrument for you, and your clients.

Everything you’d expect in a client report in your hands in moments

Whether you need a short (10-page) or comprehensive (40-page) report, the documents generated by the AdviceBridge platform include everything you’d expect in a financial planning report, including: 

  • Client goals and objectives
    • Any change in circumstances
    • Retirement objectives
    • Planned expenditure
  • Risks and preferences
    • Risk profile
    • Capacity for loss
  • Summary of financial position
    • Income and expenses
    • Retirement savings
    • Guaranteed retirement income (such as State Pension)
  • Recommendations
  • Projections
    • Safe to spend
    • Projected retirement savings
  • Important actions
  • Risk factors

Recommendation reports without the jargon

Attractive and easy to read, with breakout summaries highlighting relevant details, the reports avoid jargon and make excellent use of headings, sub-headings, and bullet points to make the information easier to take in.

Every page has a breakout box highlighting key client information. Three examples of this are shown in the table below.

Create client-ready reports in your own branding, tailored to you

Not only does AdviceBridge white-label your client reports with your own branding, but the reports are also tailored to your firm. This means that the tone of voice that you want to portray, or values you want to highlight, are incorporated and blended into the reporting structure. 

Get in touch

If you’d like to learn more about how AdviceBridge could benefit your firm and save you stacks of time in producing jargon-free reports ready to pass to your clients, please get in touch. 

Email, book a demo, or call us on 020 3925 3850.