Lifetime Financial Management has launched a client segmentation value calculator for advisers.
The new tool, Enhance Carve-Out Calculator, is designed to support advisers in building and driving value through client segmentation.
It enables advisers to input key business figures to model the potential impact on revenue and adviser capacity when segmenting clients by portfolio size, including forecasting improvements in overall efficiency.
The firm said in setting clear portfolio thresholds, advisers will be able to focus their time on nurturing relationships with their higher-value clients.
Andy Wealthall, managing director of Lifetime Financial Management, said: “Our Enhance Carve-out Calculator shows advice firms how their business could grow in a sustainable way while continuing to deliver clear, compliant, relationship-led support to their clients.
“By entering just a few top-line figures, advisers can get a clearer view of how their firm could look if they had more free resources to build high-value client relationships.”
Lifetime Financial Management said the calculator works by highlighting changes in assets under administration and recurring income assumptions, as well as the capacity that could be created when everyday clients are supported through a defined service mode.
Advisers can enter a small set of firm metrics into the calculator along with a carve-out scenario, the number of clients and their typical assets. The calculator then uses the figures to estimate the recurring income associated with that group and the impact on the firm’s wider book of business.
Wealthall added: “The Enhance service delivers a two-fold benefit by helping IFA firms grow and focus their efforts on what works for them, as well as ensuring all clients are serviced and looked after, whatever their portfolio value.
“This approach to client segmentation has delivered a 10% increase in average portfolio sizes for many of the advice firms we have worked with and most importantly, the service model works to close the advice gap.”
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