Freelance Wealth Manager Workflow Map

In this article, we’ve created a starter Freelance Wealth Manager 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 Manager 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 Manager

The path towards better systems and processes in your Freelance Wealth Manager 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 Manager 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 Manager

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 customized investment strategy based on the client’s financial goals and risk profile.
4. Portfolio construction: Build 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 changes made to the portfolio.
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 or concerns they may have and provide updates on their portfolio.
10. Continuous improvement: Continuously evaluate and refine the investment strategy and service delivery process to enhance client outcomes and satisfaction

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 manager. This can be done by offering a referral bonus or discount on services for each successful referral.
Expected Outcome: Increased client base and business growth through word-of-mouth marketing, resulting in a higher number of potential clients and increased revenue.

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, reduced administrative burden, and increased efficiency in onboarding new clients, leading to higher client satisfaction and potentially attracting more clients.

Experiment 3: Social Media Marketing Campaign
Description: Develop and execute a targeted social media marketing campaign to raise awareness about the freelance wealth manager’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 higher engagement with the target audience, resulting in a potential increase in inquiries and conversions.

Experiment 4: Client Feedback Surveys
Description: Implement a system to collect feedback from clients regarding their experience with the freelance wealth manager’s services. This can be done through online surveys or personalized follow-up emails.
Expected Outcome: Valuable insights into client satisfaction, identification of areas for improvement, and an opportunity to address any concerns or issues, ultimately leading to improved client retention and loyalty.

Experiment 5: Collaboration with Complementary Professionals
Description: Establish partnerships or collaborations with professionals in related fields, such as tax consultants or estate planners, to offer clients a comprehensive range of services. This can involve cross-referrals and joint marketing efforts.
Expected Outcome: Enhanced service offerings, increased value proposition for clients, and potential access to a wider client base through referrals from complementary professionals, leading to business growth and increased revenue.

Experiment 6: Automation of Routine Tasks
Description: Identify and automate repetitive and time-consuming tasks, such as data entry or report generation, using appropriate software or tools. This can free up time for the freelance wealth manager to focus on more strategic and value-added activities.
Expected Outcome: Increased productivity, reduced manual errors, and improved time management, allowing the freelance wealth manager to handle more clients or dedicate more time to client relationship management.

Experiment 7: Continuous Professional Development
Description: Invest in ongoing professional development by attending relevant conferences, workshops, or online courses to stay updated with industry trends, regulations, and best practices.
Expected Outcome: Enhanced knowledge and skills, improved credibility, and the ability to offer clients the latest insights and strategies, leading to increased client trust and potential business growth.

Experiment 8: Client Education Webinars
Description: Organize and host educational webinars or workshops for existing and potential clients, covering topics related to personal finance, investment strategies, or wealth management. These can be conducted online or in-person.
Expected Outcome: Increased client engagement, improved client understanding of financial concepts, and positioning the freelance wealth manager as a trusted expert, potentially leading to increased client retention and referrals.

Experiment 9: Performance Analysis and Reporting
Description: Implement a robust system to regularly analyze and report on the performance of clients’ investments. This can involve using data analytics tools to generate comprehensive reports and conducting periodic reviews with clients.
Expected Outcome: Enhanced transparency, improved client communication, and the ability to demonstrate the value of the freelance wealth manager’s services, leading to increased client satisfaction and potential business growth.

Experiment 10: Networking and Relationship Building
Description: Actively participate in industry events, conferences, or professional networking groups to build relationships with potential clients, industry peers, and influencers. This can involve attending networking events, joining relevant associations, or engaging in online communities.
Expected Outcome: Expanded professional network, increased visibility within the industry, and potential referrals or collaborations, leading to business growth and increased opportunities for client acquisition

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.