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Jessica-Lamb's avatar
Jessica-Lamb
Icon for Advisely Partner rankAdvisely Partner
5 months ago

What is your number 1 requirement when it comes to managing Client Correspondence?

There is no shortage of correspondence and communications between an Advice Practice and their Client. This can come direct from the client, from their accountant, from fund managers not to mention the correspondence created internally within your business. 

When it comes to managing these documents, there are many schools of thought around 'how to store' and 'where to store' this correspondance. From CRM solutions to Cloud Storage to internal servers to paper! 

So many factors need to be considered such as ease-of-access, security, cost to the business, and protection from theft or loss. 

When it comes to managing your client correspondence, what is your number 1 requirement (or top 3 if you can't narrow it down) and what drove you to pick your current method? 

clients
compliance
policy
practice management
technology
xplan
  • MatTenison's avatar
    MatTenison
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    5 months ago

    Hi Jessica-Lamb , we're currently in the process of transitioning to a client portal which allows us to share documents and communications. It's been a slow burn over the last 6 months but starting to get some traction. The main issue or roadblock is client access and occasionally having issues using the portal itself. This is a big priority for us this year as ceasing all personal information over email is the end goal for security purposes. Hopefully in the not too distant future we will be 100% through the portal for document and data sharing with clients!

    • jenny.brown's avatar
      jenny.brown
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      3 months ago

      Great to hear MatTenison we have trialled sharepoint links, but that hasn't been great.
      We have recently trialled documents within XPlan client portal and it's working really well.  With many of our clients already using the portal for their portfolio valuations it made sense to expand this and include document sharing both ways.
      Whilst we've had a couple of teething issues, it seems to be a resounding success and helps with security.
      Like you with a couple of exceptions for some of our older clients, I believe we will be 99% through the portal within the next couple of months.

  • jenny.brown's avatar
    jenny.brown
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    5 months ago

    Great question Jessica-Lamb my #1 would have to be, to easily and efficiently be able to pull/find any client correspondence from xplan file notes (this extends to correspondence with fund managers and internal emails about clients also). 

    We email directly into xplan bcc'ing the xplan ID and have recently brought in an early finish for the whole team on the first Friday of every month if 100% of file notes are correctly categorised - ie. type and subtype, this has worked well.  However going back historically they are not all done in the same way - ensuring we train the team and any new team members is so important.

  • deborah.kent's avatar
    deborah.kent
    Icon for Advisely Index Top 10 rankAdvisely Index Top 10
    4 months ago

    Jessica-Lamb the important thing for us with correspondence is making sure everything is saved in xplan correctly and of course security.  We has also just put in place a client portal for document sharing and document signing we are finding this great and clients are really happy with it documents are also stored in xplan under the correct categories such as estate docs financials extra we also drop and drag emails in to the system this has been a great addition to xplan being able to do them this way.  By ensuring that files are stored correctly and easy to seach if needed you would be surprised what you might need in the future.