Freelance Wealth Management Advisor Workflow Map

In this article, we’ve created a starter Freelance Wealth Management Advisor Workflow Map that you can use to start planning out your product/service delivery and we’ve outlined a few examples of experiments that you can run in your Freelance Wealth Management Advisor role.

Ready to get started? Download the Workflow Map template or get in touch to discuss how a workflow coach could help you fast-track your business improvement.

Systems & Processes for Freelance Wealth Management Advisor

The path towards better systems and processes in your Freelance Wealth Management Advisor role starts with mapping out your most important business processes. Being able to see your business processes laid out visually helps you to collaborate with your team on how to improve and grow. By repeating this collaboration process, you’ll develop a culture of continuous improvement that leads to a growing business and streamlined systems and processes that increase customer & staff experience.

To help you start mapping out your processes, we’ve developed a sample flow for a Freelance Wealth Management Advisor Workflow Map that you can use with your team to start clarifying your processes and then run Business Experiments so you can build a better business.

Workflow Map For A Freelance Wealth Management Advisor

1. Initial consultation: Meet with the client to understand their financial goals, risk tolerance, and investment preferences.
2. Financial analysis: Gather and analyze the client’s financial information, including income, expenses, assets, and liabilities.
3. Investment strategy development: Develop a personalized investment strategy based on the client’s financial goals and risk profile.
4. Portfolio construction: Create a diversified investment portfolio that aligns with the client’s investment strategy.
5. Investment implementation: Execute the investment trades and allocate the client’s funds according to the agreed-upon investment strategy.
6. Ongoing monitoring: Regularly review and monitor the performance of the client’s investment portfolio to ensure it remains aligned with their goals.
7. Performance reporting: Provide periodic performance reports to the client, detailing the performance of their investments and any adjustments made.
8. Financial planning: Offer comprehensive financial planning services, including retirement planning, tax planning, and estate planning.
9. Client communication: Maintain regular communication with the client to address any questions, concerns, or changes in their financial situation.
10. Continuous improvement: Continuously evaluate and refine the service delivery process to enhance client satisfaction and achieve better outcomes

Business Growth & Improvement Experiments

Experiment 1: Client Referral Program
Description: Implement a client referral program where existing clients are incentivized to refer new clients to the freelance wealth management advisor. This can be done by offering a referral bonus or discount on services for each successful referral.
Expected Outcome: Increased client base and revenue as existing clients are motivated to refer new clients, leading to a higher number of potential leads and conversions.

Experiment 2: Streamlined Onboarding Process
Description: Review and streamline the onboarding process for new clients, ensuring that it is efficient and user-friendly. This can involve simplifying paperwork, digitizing forms, and providing clear instructions to clients.
Expected Outcome: Improved client experience and increased efficiency in onboarding, resulting in reduced administrative time and enhanced client satisfaction.

Experiment 3: Social Media Marketing Campaign
Description: Launch a targeted social media marketing campaign to raise awareness about the freelance wealth management advisor’s services. This can involve creating engaging content, utilizing relevant hashtags, and leveraging social media advertising platforms.
Expected Outcome: Increased brand visibility, expanded reach to potential clients, and a higher likelihood of attracting new clients through social media channels.

Experiment 4: Client Satisfaction Surveys
Description: Conduct regular client satisfaction surveys to gather feedback on the freelance wealth management advisor’s services. This can be done through online surveys or personalized follow-up calls to clients.
Expected Outcome: Improved understanding of client needs and preferences, identification of areas for improvement, and increased client retention through addressing any concerns or issues raised.

Experiment 5: Strategic Partnerships
Description: Explore potential strategic partnerships with complementary professionals or businesses in the finance and accounting industry, such as tax advisors or estate planners. This can involve networking events, collaboration on joint projects, or referral agreements.
Expected Outcome: Expanded service offerings for clients, increased credibility through association with reputable partners, and potential cross-referrals leading to business growth.

Experiment 6: Educational Webinars or Workshops
Description: Organize and host educational webinars or workshops on relevant financial topics for existing and potential clients. This can be done through online platforms or in-person events, providing valuable insights and establishing the freelance wealth management advisor as an industry expert.
Expected Outcome: Increased brand authority, enhanced client trust, and potential lead generation as participants gain knowledge and recognize the value of the advisor’s expertise.

Experiment 7: Client Communication Automation
Description: Implement automated client communication systems, such as email marketing campaigns or personalized newsletters, to regularly engage with clients and provide updates on market trends, investment opportunities, or regulatory changes.
Expected Outcome: Improved client engagement, increased client retention, and enhanced perception of the freelance wealth management advisor as a proactive and knowledgeable professional.

Experiment 8: Performance Tracking and Reporting
Description: Develop a comprehensive performance tracking and reporting system to provide clients with transparent and detailed insights into their investment portfolios. This can involve utilizing software or tools that generate real-time performance reports and analytics.
Expected Outcome: Enhanced client satisfaction, increased trust in the advisor’s abilities, and potential referrals as clients appreciate the clarity and transparency in tracking their investments.

Experiment 9: Specialized Niche Targeting
Description: Identify and target a specialized niche within the finance and accounting industry, such as retirement planning for small business owners or socially responsible investing. Tailor marketing efforts and service offerings to cater specifically to this niche.
Expected Outcome: Differentiation from competitors, increased visibility within the chosen niche, and potential for higher client conversion rates as the freelance wealth management advisor becomes known as an expert in that particular area.

Experiment 10: Continuous Professional Development
Description: Invest in continuous professional development by attending industry conferences, workshops, or obtaining additional certifications. Stay updated with the latest trends, regulations, and best practices in the finance and accounting industry.
Expected Outcome: Enhanced knowledge and expertise, increased credibility, and potential for attracting high-net-worth clients who value the advisor’s commitment to ongoing learning and professional growth

What Next?

The above map and experiments are just a basic outline that you can use to get started on your path towards business improvement. If you’d like custom experiments with the highest ROI, would like to work on multiple workflows in your business (for clients/customers, HR/staff and others) or need someone to help you implement business improvement strategies & software, get in touch to find out whether working with a workflow coach could help fast-track your progress.