A desire to improve the engagement between advisers and their referral partners is behind a new software tool created by South Australian adviser, Michael Baragwanath.
Mr Baragwanath believes more referrals are the key to driving up business revenue in the wake of the current regulatory reform agenda, but that existing financial advice software offers are not designed to facilitate the referral process.
This realisation led Mr Baragwanath to create Connection Engine, designed to strengthen the network between accountants, mortgage brokers and advisers (specialists or generalists).
Connection Engine incorporates a simple client financial health check (My Financial Fitness), an appointment scheduler, tracking and workflow updates and document sharing facility. The solution also provides analytics to an adviser’s business on the time taken to provide advice, conversion rates and client financial health.
“Financial planning software seems to assume that clients appear out of nowhere and want a specific problem solved. Having worked with many advisers over the years and in my own practice it was clear that we needed a solution designed to help more Australians connect with professional advice,” Mr Baragwanath said.
We’ve included elements of game play…
“We’ve included elements of game play to a very simple fact find designed to build engagement and provide the best solution possible: personal professional advice.”
Connection Engine includes automated updates that notify all parties as a client moves through the advice process, and also records the first time a client completed a health check and automatically offers a review every 12 months.
“For us it’s all about the adviser, they control their referral network and they provide a custom branded and colour-coded version of My Financial Fitness to their network,” said Mr Baragwanath.
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