Financial Adviser or Administrator, which will you be in 2024? - Organised You
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Financial Adviser or Administrator, which will you be in 2024?

Financial Adviser or Administrator, which will you be in 2024?

I am writing this blog post on December 27th, after a morning of reflection on 2023 and business planning for the year ahead. There is nothing like an approaching a new year to make you think about what you have achieved, and what you still want to achieve and as I write my own goals for 2024 it seems a good time to ask you to think about yours.

What do you want to change in 2024?

Every single adviser that contacts Organised You comes to us with the same complaints:

“I want to spend more time with my clients and less time doing paperwork”
“I’m more like an administrator than adviser”
“I spend hours doing paperwork instead of growing my business”

In an industry where compliance and due diligence requirements are increasing, the balance of where time is spent is a juggle for Financial Advisers. As an Adviser you want to do your best by your clients. You want to give them all the information they need to make good decisions. But Advisers also (in my experience) didn’t become advisers through a love of paperwork and organisation!

Advisers are people people. They are good at building relationships. Spending time talking and listening to their clients is key to their advice.

When an adviser feels under pressure with paperwork,  the time that they devote to client relationship building suffers.

Are you a Financial Adviser or an Administrator?

Where do you spend the most of your time? During your working day are you chatting with clients and researching solutions? Or are you filling in application forms and chasing providers for policy information?

I know how hard it can be to pass work off to someone else to complete for you. Letting go of control, especially when you have always done something yourself can be really hard. It can also be a challenge, adapting to outsourced support instead of working with someone sat next to you. Sometimes it can feel easier to just ‘do it yourself’ than to have to go through the pain of passing work over. However, if you asked yourself what your client values from you, where they want you to spend your time, what would they say? Do your clients want you to be their Financial Adviser or their Administrator?

Building a good relationship with your administrator is key to successful moving away from admin. With good systems and processes in place, your client will learn how to get the most out of the new structure. They will approach your administrator directly for updates and administrative tasks. Your administrator can proactively chase providers and update both you and the clients. They can book in your meetings, send out your LOA requests and key data onto your CRM system.

As 2023 draws to a close and you are thinking about your plans for 2024, ask yourself: ‘Am I going to be an adviser or an administrator this year’? And if you need help moving away from being more of one to more of the other, you know where we are.


Karlene Rivers