Innovative benchmarking for advisers and clients

As part of the standard offering, Moneysoft includes free access to a benchmarking and reporting tool giving Advisers unique insights into the spending habits of their clients and the ability to compare the financial behaviour and performance of individuals, against their peers.

The innovative tool is available to all Moneysoft business account holders and aims to foster deeper client discussion, engagement and understanding.

The tool divides clients into three broad categories: singles, couples and families, enabling a comparison of their financial position and behaviour, relative to their peers in real time and over a period of time.

Advisers can also generate personalised reports including a ‘Budget versus Actual’ report and a ‘Spend Analysis’ report.

Neil De Beger, Head of Marketing and SME Operations said “Advisers using this tool effectively are finding that it is an extremely motivating part of their client conversations. It adds further colour and strengthens these discussions through the visual reference, which many clients can immediately relate to. It is human nature to be concerned with what others are doing – it’s a direct tie-in with the old adage ‘keeping up with the Joneses’. We like to know what others are earning, saving and doing with their money,”

The service was developed in collaboration with Steve Crawford, of Experience Wealth and Your Spending Coach and was designed to allow advisers to deliver even more value to their clients’ money management process.

“The biggest value of having a peer group to compare your results, is that it gives your clients a perspective outside their own world, that is taken from other people just like them” Crawford said.  

For more information, please email info@moneysoft.com.au

Posted 6 years ago 1 Minute(s) to read