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Keeping Up With EOFY Client Communications

May / 23 / 2022

The time of year is approaching when a lot is happening on the Financial Planning calendar. Not only is the End of Financial Year creeping up, but the Reserve Bank’s recent rate rise is a hot topic of conversation between advisers and clients alike.

Communicating with your clients is important at any point, but especially when there’s uncertainty in the air and deadlines approaching. Xplan makes it easy for Financial Planners to deliver bulk client communication, enhance your service offering and improve client engagement before EOFY; keep reading to discover how.

Why Financial Planners use Xplan to communicate with clients in bulk

The financial planning industry today is complex and is moving quicker than ever, thanks to rapidly evolving technology. With clients receiving a deluge of information through news outlets, word of mouth, the internet and even social media, it’s become increasingly important for advisers to stay on the front foot and deliver targeted, tailored communications as part of their standard process.

Xplan provides financial planning practices with sophisticated software to reach an entire client base, or target clients and client groups with maximum efficiency.

Contribution Cap Limits

June 30 each year sets the deadline for a suite of different financial reporting, with Superannuation Contributions being one of them. It’s understandable that your practice won’t be able to remember to contact everyone individually to maximise their available cap limit, which is why sending a bulk email to clients can be a wonderful way to support your clients to get the most out of their pre-retirement strategies.

Sending out this communication early, and reminding clients of the cut-off for different platforms and product providers will demonstrate your customer-centricity while also providing yourself with ample time to support those clients wishing to gain assistance in topping up their super.

Important Updates & Business Opportunities

When important financial events happen, such as the Reserve Bank’s recent interest rate increase, financial planning businesses are prudent to communicate the changes with their clients and invite questions, comments and queries. Xplan’s email functionality means that you can address changes as they occur as part of boosting your customer service and even use the opportunity to get your clients in to complete a review.

Savvy practices also use events to re-engage their prospects, demonstrating how in touch they are with current financial affairs and as an exercise to deliver their value proposition to new business opportunities. There is a lot of technology available that makes running online events such as webinars a really simple process.

Financial Planning EOFY Reminders

One of the ways that you can limit your ad-hoc administration at your busiest time of year while also adding value to your client base is to remind them of some of the important End of Financial Year details they need to know.

  • How to check their current contribution cap limits online through My Gov, instead of just on their investment/superannuation platform.
  • How to access a range of different statement options, and when they’re expected to be made available.
  • Reminder to review their life insurance and of course claim any income protection policy premiums on their tax return.

Of course, sending emails to all clients can also work outside of just the end of financial year time, such as an introduction of a new team member or an update on your fees.

Making bulk communication possible

Xplan makes bulk communication possible through its user-friendly email function. The largest area of concern for a lot of advisers is around privacy — but Xplan has this covered. Xplan allows you to send emails to multiple clients at once while simultaneously protecting their privacy.

The Xplan software makes it so that support staff, such as your practice manager or client services officers, can send emails that are delivered from the principal or adviser’s email address. The email is then stored on the client’s file note within Xplan, and you can set up exactly how to save it prior to sending it.

If you’ve never sent an email to multiple recipients at once through Xplan, read our easy to follow instructions on how to send emails to multiple clients.

Specialist PMC can help get the most out of Xplan

At Specialist PMC, we’re here to support you far past simple ‘how to’ guides. We want businesses all over Australia to achieve their goals, which is why we offer Xplan customisation, training and consulting, site administration and license support as well as administration support.

We work closely with Iress, the owners of Xplan software, to make sure that we can offer solutions that are meaningful to every adviser, and help streamline processes as well as get the most out of your Xplan data.

Specialist PMC provides expert consultation and advice to financial advice firms Australia wide, so regardless of your location, we can help you get the most out of your Xplan experience. Contact us today to find out more.