Strong relationships don’t just happen by accident. They take time, commitment and effort.
When we spoke to a number of advisers last year, it was no surprise to hear regular reviews were at the heart of their ability to forge deeper connections with their clients.
It’s a chance to catch up. A dedicated checkpoint to have a meaningful conversation around the performance of their plan. To reassess their client’s current needs and future aspirations. And to showcase the value of their services.
But, as with all things worthwhile, regular reviews can also be hard work.
The problems with client reviews
The advisers we spoke to told us the main issues they face with being able to offer ongoing client reviews boil down to two things – time and compliance.
To prepare for a client review, you’ll probably be familiar with trying to source all sorts of facts and figures. You’ll then work to package and present these in a way your clients can understand. All this can eat up a massive chunk of time.
Then there’s the nagging fear that whatever service you provide will fall foul of the regulator.
Introducing our new Review Service
In July, we launched our new Review Service – a support service that saves you time, is easy to use and helps to keep you on track with your compliance requirements.
This service builds upon our longstanding history of developing support tools for advisers and customers in the pensions market.
Royal London’s Head of Pension Proposition, Colin Mitchell, recently gave his thoughts on the launch of the new service: “Good client outcomes are in everyone’s interest. Our new Review Service provides advisers with an easier and more efficient review process, allowing them to concentrate their efforts on what really matters – adding ‘real’ value for their clients with advice on their current pension and their potential options and choices, which can now be quite complex.”
How the Review Service can help
Our Review Service is designed to put more power in your hands. In just a few simple steps, you can create quality, visual reports to show your clients exactly how their retirement savings are doing – and what their future could look like.
Pick a style to suit you
The service produces reports packed full of impressive visuals – giving your hard work the graphic polish it deserves, while letting your clients see how you’re keeping an eye on their money.
Client report – you can create a personalised report that encourages your client to engage with their plan, using colourful graphics and jargon-free language. And, explain your professional fees and the plan charges in a way your client will understand.
Summary report – this one-page summary shows a snapshot of your client’s plan and includes the key points from the full client report.
Adviser report – a detailed report for you that backs up all the facts and figures in the client report, supporting your compliance requirements.
See how it works
If you’d like to find out more about Review Service, speak to your usual Royal London Sales contact or visit adviser.royallondon.com/reviewservice.