Plan Updates with Silver Online's Customer Access
Planning reviews are an important part of the financial planning process. Regular reviews help ensure clients stay on track to meet their goals. Reviews also provide advisors the chance to reconnect with clients as you work together through the planning process.
A majority of advisors conduct plan reviews at least annually according to the FPA’s Research & Practice Institute’s study 2015 Trends in Financial Planning. The survey reported only a third of advisors charge a separate fee for creating initial plans and even less charge a separate fee for plan updates. While the time required to complete plan updates is typically a fraction of the thirteen hour average spent creating initial plans, the total time investment can be significant considering the frequency of reviews.
Taking steps to simplify the planning review and update process can pay off quickly. Advisors planning with Silver Online can leverage the customer access feature to streamline plan updates. The customer access portal allows clients to review plan data and optionally make changes to update the planning information.