The key reasons why AdviceBridge focuses on progressive advice firms

Businessman rolls on office chair with rocket motor.

By AdviceBridge

As Darwin said, “It is not the strongest species that survive, nor the most intelligent, but the ones most responsive to change.”

This, in a nutshell, is why AdviceBridge only focus on progressive advice firms. It doesn’t matter whether a firm is big or small – what matters is the attitude and mindset when it comes to adopting change.

Read on for three reasons why we’ve embraced this stance and what it may mean for you.

The AdviceBridge platform is designed for those with a growth mindset

We have found that AdviceBridge is an ideal solution for firms with four to five advisers running a small advice firm, through larger firms with many advisers.

Firstly, those with four to five advisers often approach us because they have reached a point where they’re unable to grow; they’ve reached their capacity in terms of the numbers of clients they can service effectively. 

They usually have an administrator and a paraplanner and, sometimes, additional staff but all the advisers are too busy dealing with clients to focus on running the business.

So, to focus their efforts on growing the business, at least one of the advisers may end up having to reduce the time they spend dealing with clients, or even stop dealing with clients altogether – which ends up being a total catch-22 situation.

In cases like these, the AdviceBridge platform helps to create a more efficient way of doing things and so business growth becomes a lot easier.

Secondly, there are those larger firms with more advisers, where current processes and systems limit their capacity. In most cases they know they want to improve but they can’t see how it can be achieved. After all, they are using all the mainstream adviser technology services in the market.

However, the AdviceBridge platform helps to create a more efficient way of doing things, cutting significant time from current processes and helping to drive business growth and profitability.

It is often hard for firms to see how it could be improved and conjures up the Henry Ford quote, “If I had asked people what they wanted they would have said a faster horse”. It’s only once they see the car that they “get it”.

Introducing automation to benefit you and your clients requires a degree of readiness 

Through automation, AdviceBridge helps you to effortlessly deliver compliant-ready financial plans to a far wider range of clients profitably. 

Among other things, the system helps gather information, analyse what is held and how it should be structured before it automatically produces a recommendation report ready to present to your client.

Ultimately, the intelligent software replaces the unengaging, complicated, and time-consuming tasks with engaging, insightful, and meaningful information and recommendations, meaning paraplanners and administrators will spend far less time on time-consuming tasks and administration.

In turn, this probably requires a re-think about the way you’ve been doing things to date. This may mean making adjustments not only to your business practices, but also the type or focus of people’s roles.  

For example, instead of hiring more paraplanners and administrators, adopting AdviceBridge should mean your current team can deal with many more clients. Thus, firms have to want to change for the better.

From small acorns…

Even smaller firms who have grand ambitions see the benefit in what AdviceBridge can offer. Some smaller firms are looking to bring something new to the market in terms of their service or have a strategy that means they want to grow much more quickly than conventional business structures allow.

AdviceBridge enables firms like this to build a much stronger foundation on which they can go much, much further without the need for changes at traditional threshold points. AdviceBridge limits capacity issues for advisers who are able to serve more clients. 

Equally, the ratio of paraplanners and administration staff can be further streamlined such that firms can support significantly more clients, creating a much more profitable business.

It’s all about mindset

For those firms who want to grow their business, whether by broadening their service or working with a wider segment of clients, AdviceBridge is the ideal solution.

Ultimately, however large or small your advice firm is, if you want to move your business forwards and have the right progressive attitude, it matters little whether you’re a one-man-band or a firm with 25 advisers.

If you’re looking forward and asking, “how do we improve our business?” – get in touch.

Get in touch

AdviceBridge is designed to support advisers, paraplanners, and administrators in advice and wealth firms. If you’d like to learn more about how we and the platform can help you grow your business, email, book a demo, or call us on 020 3925 3850.