Launch of New Advice Creation Tool – ‘Reimagining Efficiency’


Advice creation software firm, Asendium, has launched a full service offer for advisers which it says will cut many hours off the time it takes to create and deliver a Statement of Advice.

This updated offer replaces Asendium’s initial market service, Asendium Lite, which focussed on delivering digital file notes. The enhanced service, which was launched at the end of May, combines digital file notes with each of the other elements involved in the advice creation process – a service which now delivers:

  • Fact find data
  • Files notes
  • Strategy papers
  • Statements of Advice
Asendium Co-Founder, Scott Miller …the best way to use Asendium is having an associate join the adviser in the client meeting

Asendium Co-Founder and former adviser, Scott Miller, told Riskinfo this advice creation package has the capability to build such significant time and cost savings into the advice process that it will create an opportunity for many more advice businesses to build viable service propositions which can serve the needs of the middle Australian or ‘mums and dads’ consumer market.

Underpinning his approach, Miller says the advice process is split into three components, namely:

  1. Advice creation
  2. Advice implementation
  3. Ongoing advice management

He says  parts 2 and 3 – advice implementation and ongoing advice management are currently managed within advisers’ and licensees’ CRM systems, while the Asendium package focuses on the initial advice creation component, bringing together what he says have historically been ‘fragmented’ elements involved in the advice creation process.

In focussing on the ‘micro-efficiency’ gains developed in digitising, automating and integrating each of the elements involved in the advice creation element, Miller says this has created hyper efficiencies which lead to the significant efficiency and time savings his new system is intended to deliver.

[Asendium] …has effectively ‘reimagined’ the most optimal way to achieve efficiency in advice businesses

He adds his firm’s offer has effectively ‘reimagined’ the most optimal way to achieve efficiency in advice businesses:

“We believe the best way to use Asendium is with an admin/paraplanner/associate in the client meeting with the financial planner. While the financial planner is having the in depth discussions, the support team member is entering the information straight into Asendium.”

Miller envisages that as soon as the client meeting has ended, the support team member can continue to complete the advice documents while the adviser attends to other business building opportunities, rather than advice administration processes.

In addition to digitising, and automating advice creation into a single process, Miller adds that it is now possible to structure a business system which has the ability to deliver a full advice solution utilising a two-system tech-stack, namely the Asendium package integrated with CRM systems.

Click here for further details of the new Asendium offer, which Miller argues addresses an imbalance within the financial advice sector which has traditionally seen resource-draining manual processes preferred to more efficient technology solutions which he says exist in abundance in most other industries.


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