Case study: Client Review

Miller Associates

Dynamic Planner is ahead of the game in financial services, making this available for advisers. For those who endorse technology, it is fantastic.
Chris Miller, Miller Associates
Miller Associates
Read Case Study

The new report Elements produces is nice and simple and clear, and clients understand it. They like it. It allows you, as an adviser, to tick off boxes compliance-wise, which is brilliant, because it ensures you are following a structured procedure. It’s just brilliant – I love it.

Once you have the client’s information in there, it’s very quick to produce. I use iO and it works perfectly with that, so it is saving me a huge amount of time. My worst subject at school was English, so having to produce suitability reports for client reviews is my worst nightmare. With Elements, it is all done for me. I just click through and it’s job done. It’s saving me a good 45 minutes per client review.

It takes me 10 to 15 minutes maximum to produce the report, where as previously it was taking me approximately an hour to package all of that information together for a client. It’s confirmation and reaffirms to the client what has happened to their portfolio in the last year.

When I am sat with a client, we talk through the report and once we reach the end, it finishes the meeting. I can complete any actions, coming out of it, afterwards. If there is nothing to do, obviously that can be reflected in the finished report, which I send as a PDF to the client.

It has everything in there that the FCA needs – assuming that your fact find is up to date – so I am technically using Elements to produce a suitability report, because I find other suitability reports too rigid and insist you include too much information on the client, which they already know. But you’re not recommending anything to them. You’re reviewing their portfolio and whether it is still suitable as a solution for the client. Is it still achieving what we want it to?

Clients who I have sent the report to have all come back and send they have read it and understood it and are happy with it. I have read through all of the wording in the report myself and I was impressed. It’s really good.

I don’t think there is anything else out there like Elements – it’s a new document for a new process, which, because of MiFID II, advisers have to produce and go through now. The report from Elements looks into the future while also taking into account the client’s current and also past situation. All other reports look at the current and past situation, but don’t look to the future. That’s the big difference. Nobody else is doing anything like this that I’m aware of – it’s quite unique.

Dynamic Planner is ahead of the game in financial services, making this available for advisers. For those who endorse technology, Elements is fantastic. It fits in with the trend of things going online, which means no more paper. Yes, the report can be printed, because some people still like to have paper, but I have taught my clients to have everything digitally.

Dynamic Planner is investing in technology in Elements. It’s revolutionary.