Spring Series: The benefits of putting your firm on auto-pilot

Posted by Andrea Collatz on April 3, 2012

Welcome to the spring series of “EVOLVE the RIA Growth Blog.” Over the next couple of weeks, we will feature posts that share spring themes including – growth, evolution, new beginnings, and fresh perspectives. Subscribe today for new updates.

Do you feel like you reinvent the wheel each time you welcome a new client, follow up on a prospect meeting, or thank a client for a referral? Maybe you are aware of what to accomplish but don’t have a formalized and automated process for responding consistently.

Many advisors waste time and productivity trying to repeat steps that have no clear priorities or standardized flow. With a defined process in place for routine activities, you can put your business on auto-pilot and free up time for higher order activities that demand your expertise.  

Automation allows advisors to be proactive, and to anticipate and deliver on client needs more effectively. Advisors can begin the automation process by applying the following steps to core business functions:

  1. Identify core business processes
  2. Break each process down into component parts
  3. Standardize key processes by defining activities, timelines, and responsibilities
  4. Automate key processes where possible

The more standardized the process, the more predictable the experience will be, and the easier it is to repeat. Advisors who effectively streamline their business processes find: 

  1. Clients receive a consistent level of service 
  2. Key details are not overlooked
  3. Routine tasks are automated
  4. Client service is handled proactively
  5. Key members have clearly defined roles
  6. Outcomes are more predictable 

As your firm grows to take on more clients, having clearly defined automated processes in place will ensure that you retain a consistent level of service delivery. It will also give you the peace of mind to know that details are not slipping through the cracks. 


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