Outsourcing has become an increasingly popular solution to the increasing cost of delivering advice and servicing clients. While outsourcing provides a cost reduction for financial planning businesses, it does not provide a time reduction. By implementing outsourcing alone, financial planners/licensees are passing the time to complete compliance documents onto someone else. While significant cost savings have been created, there have been no further efficiencies created.
In Asendium’s first step towards creating a holistic network of resources for financial planners, Asendium is proud to partner with international business process outsourcing company, Valenta, which has proven to save up to 60% in costs for financial planners.
Who is Asendium?
Founded in 2019, Asendium is an automated compliance document generation system for financial planners that reduces the time to complete documents. By automating the non-impactful parts of compliance documents, whilst still leaving the client conversations and rationale free for a financial planner to input.
Asendium’s intuitive and customizable system has proven to increase the efficiencies for financial planners and their teams by up to 90%, meaning financial planners can now generate File Notes in under 10 Minutes. Asendium creates micro efficiencies that have a macro impact by turning complex processes into simple solutions.
Scott Miller, CEO of Asendium believes, “A financial planners’ time is better spent delivering great client experiences. By outsourcing the non-client-facing tasks to virtual assistants, in combination with the use of a highly efficient technology solution such as Asendium, you are providing your business and team with the opportunity to help more clients without compromising on your profit margins.”
Who is Valenta?
Valenta offers businesses outsourced staffing solutions, designed to boost efficiencies and improve workflow. Businesses operating in fiercely competitive markets require a competitive advantage, and Valenta can provide this through vast knowledge, industry specialists, and quickly accessible resources. Valenta prides itself on the ability to understand in detail, the process dynamics of each business, whilst incorporating real-world solutions that boost profitability.
In a recent webinar hosted by Asendium, “Compound Your Efficiency”, File Notes were highlighted as one of the few compliance processes that cannot be outsourced to an offshore team member, which is where Asendium comes in. The remainder of the process can be outsourced to virtual assistants from Valenta which will significantly reduce the costs to a financial planning business – making Asendium and Valenta’s partnership a logical and collaborative solution.
Bill Savelli’s, Senior Financial Planner at Infocus Sydney Central and Managing Partner for Valenta – Australia Operations explains, “ It is unfortunate, but the new reality for financial planners is the time it takes to provide a quality financial advice to a client, irrespective of whether they are a new or existing, takes as much as 20 hours over a period of several weeks.
The combination of technology, coupled with an offshore solution, is the only way I, as a financial planner and representative of Valenta, have identified, can manage those time frames in a way that allows a financial planner to provide a quality service cost-effectively.”
What Does This Partnership Entail?
- For current Asendium users, they will receive a discount of 10% off Valenta outsourcing services.
- For financial planners who sign up to Valenta, they will receive 10% off Asendium’s annual subscription.
To truly achieve optimal efficiencies for your business, there needs to be a combination of outsourcing and technology with a structured and guided process that connects the two other components – making Asendium and Valenta the perfect solution that helps financial planners in delivering great client experiences along with high quality and compliant advice.