The transition into a new year is a great time to recalibrate and ensure you’re ready for what’s ahead. Here is an essential checklist of actions to check off before meeting with your clients in the new year:
1. Have you prioritized client engagement?
Improving your client relationships pays off! According to eMoney Summit 2023 Research*, engaged portal users have significantly higher satisfaction with their advisors, and are more motivated to achieve their goals than those who don’t engage with the portal. One of the best ways to ensure your clients remain engaged is to encourage them to use the Client Portal. Easy portal checklist items include:
- Using onboarding tools for client updates: Encourage your clients to use the Onboarding tool available on the Client Website to revise financial priorities, goals, and other pertinent information. This empowers your clients to align their strategies by leaning on the Onboarding tool. How to use the Onboarding tool
- Reviewing Client Alerts: Ensure active client engagement by managing and optimizing Client Alerts to effectively track and respond to their activity. Receive notifications for various client activities such as the completion of onboarding, addition of connections, changes in their net worth, and more. Steps to access Client Alerts.
2. Are you kicking off the year with strong connections and accurate client data?
Data accuracy stands as the cornerstone of informed decision-making. Ensuring precise and up-to-date client information not only builds strong connections but also supports reliable financial planning and strategy execution.
- Assess advisor-managed connections: Perform a comprehensive review of advisor-managed connections to guarantee accuracy and eliminate any potential errors with client accounts.
- Update cash flow facts manually: Identify elements that necessitate manual updating this year by referring to this document, What the System Updates. It’s important to note that eMoney won’t automatically adjust cash flow facts indexed by inflation, so you’ll need to ensure data accuracy, such as client salaries, to avoid discrepancies.
- Verify simulation assumptions: Double-check the Simulation assumptions in Miscellaneous Assumptions to prevent using ‘Jan 1 of Next Year’ as the default setting. This common oversight can lead to avoidable customer service inquiries and ensure smoother projections.
3. Are your projections compliant with financial standards?
- Check Fact Default settings: Ensuring these settings align with current financial standards is pivotal for accurate projections. Navigate to Settings and review Fact Default settings as you embark on the new year.
- Secure 2.0 Act: We know how important it is for you to deliver the most up-to-date financial plans to your clients with ease. Keeping our calculations reflective of the latest laws and rules is at the top of our list of priorities. Click here to learn more.
Check off these items to set yourself, and your client base, up for a successful new year.
Stay tuned for more best practices throughout the year!
*Source: eMoney Beyond the Plan Research Study, June 2023, n=1,507
