Why you should be using cashflow live with clients

9 February 2022
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Why you should be using cashflow live with clients

9 February 2022

Aishling Costello
Aishling Costello
Senior Cashflow Consultant

In a recent survey, our customers told us that cashflow modelling technology was the most popular tool for helping clients meet their long-term goals, with 70 per cent of advisers and paraplanners in agreement.

With scalable, user-friendly solutions breaking down old assumptions about cashflow planning, more and more advisers are choosing to make this technology a key part of their process. Here are some of the reasons why.

It changes the relationship between you and your client

Cashflow planning is interesting and engaging for clients. Once you get them into the right mindset, they start to enjoy talking about themselves and their plans. This evolves your relationship from just ‘looking after their financial plan’ to ‘working with them on their life plan.’

Throughout a client’s life there will be events that affect their assets. Cashflow planning can consider these – for example, showing a client how receiving an inheritance, downsizing their home, or losing their partner’s pension (should they die first), will impact on their wealth and lifestyle.

By adjusting the levels of interest or return, you can start to create a real picture of the different results of varying scenarios. This can be transformative and turns you from an ‘adviser’ into someone they need to stick with throughout their entire life.

It can help to attract younger clients

Younger clients tend to be more tech-savvy and they increasingly expect the same of their professional advisers. We talk more about this in our blog ‘How to attract younger clients, and why you might want to‘.

When you adopt cashflow planning, you put the role of the financial planner at the centre of your client’s long-term planning goals. This has clear benefits for younger people, as they can see the effects that changing certain assumptions can have on their life.

It enables you to work with more clients

The ability to quickly adjust plans and generate clear outcomes in response to client enquiries creates efficiencies. You don’t need to arrange multiple meetings or go away and spend time working through a range of scenarios. You can complete everything live in one meeting.

Creating these time efficiencies means you can work with more clients, generating more revenue for you and your business.

It allows you to demonstrate value quickly and easily

Using cashflow planning makes it easy for you to demonstrate value quickly, easily, and visually to the client across multiple fronts, including:

  • Asset values

  • Tax

  • IHT

  • Ongoing sustainability

You can change one or more assumptions and clearly evidence the value that your advice, and that working with you, is adding.

Cashflow modelling doesn’t have to be complicated. intelliflo planning is a user-friendly, intuitive platform that allows you to easily and clearly demonstrate the value your advice brings.

Find out more, and book your free 30-day trial now...