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They say ‘time is money’ but how much time exactly? We live in an era where efficiency is a core part of running a successful business. Why? Because working harder no longer pays off. Working smarter on the other hand? Well that’s a different story! 

However, this doesn’t negate the need for meticulous, error-free and personalised service. While improving efficiency is important, it shouldn’t compromise intentional client connections. Can an independent financial maximise efficiency without compromising on quality service or client connections? You bet. Here’s how. 

  1. Outsource non-critical tasks

You can do anything, but you can’t do everything. As an independent financial adviser, we understand that you wear many different hats and share a revolving door or responsibilities. However, when it comes to maintaining your competitive edge (and client retention rate) it’s important to know when to do and when to delegate. 

Delegating non-core activities to assistants or specialised service providers can significantly improve productivity – helping you focus on more important. This can include anything from outsourcing administrative tasks, data entry, and appointment scheduling. This helps you reallocate your time and helps improve your critical resource allocation towards more client-facing activities and strategic decision-making, which is the bedrock of good financial advisory. 

  1. Let go of some meetings

This one may be a bit controversial, but hear us out. Did you know that 60% of people believe meetings are a distraction from “real work.” Yes – virtual meetings have wildly revolutionised the industry, but they’re also quick to appear on the schedule and have a tendency to run over time. Reconsider your weekly meetings and ask yourself whether there is a clear goal, a clear agenda and a specific ROI for you that will come out of this meeting. According to a Korn Ferry survey, over 67% of workers feel they spend too much time on meetings and calls. In addition, survey respondents believed that 2-5 hours a week are generally wasted on meetings with little to no outcome. 

  1. The Eisenhower Matrix

50% of people who use The Eisenhower Matrix to manage their time report feeling in control of their work daily, making it the most effective time management system. The Eisenhower Matrix is a time management method that helps financial advisers prioritise tasks based on their urgency and importance. It does this by categorising tasks into four quadrants: 

  1. urgent and important
  2. important but not urgent
  3. urgent but not important
  4. neither urgent nor important

In a world flooded with productivity tools, it’s easy to feel overwhelmed. Focus on industry-specific, consolidated platforms that can help you streamline your manual tasks while providing in-depth, and insightful analytics. 

Did someone say Commspace? Yes!

We provide real-time access to client data and analytics, empowering IFAs to personalise their services while keeping a finger on the pulse of the financial market and every other aspect of their business. 

Manage your commission and fees. Beautifully.

Ready to discover efficiency meets connection? 

We’ve got you covered. 

Book a demo here