top of page

Why a Gap Analysis should be your next step towards success


We tell our clients to do a financial health check, we tell them to do an insurance check, we tell them to do a mortgage check, we tell them to do a lifestyle goals check.

But, are we hypocrites in this industry? Do we run these checks on our own businesses? And do we run them on the back-end of our business. So often we’re focused on the sexy end of the business; analysing the new client flows, the revenue, the leads, the profits. How often have you considered that it might be the back end of your business that requires work?

We hear Advisers all the time telling their clients not to implement ‘set and forget’ investment strategies, and to continually analyse and assess their financial planning goals. But more often than not, when we ask an Adviser or Partner when they last ran a “health check” on their own business, the answer we hear is “never”. Often when businesses do invest in a ‘health check’ of some description, the catalyst for change has been an event like a staff member leaving with clients, a disgruntled staff member exiting and caused waves amongst remaining staff, or clients have begun to express unhappiness in advice, performance or investments. We know that the cost of losing a client can be excruciating, and although nearly seven out of ten respondents (69 per cent) in the AHRI 2015 Pulse Survey reported that the cost of turnover is not measured in their workplace, estimates project that the direct and indirect costs can be between 30 - 150% of that staff members salary. This really hurts your bottom line.

What would happen if you invested in your business BEFORE it got to this point? We’ve found that many Practices are reluctant to run a diagnostic within their business at the risk of uncovering something that they are frightened to hear. But in truth, quite often the outcome is entirely the opposite, staff are invested in the business, the process and the clients and they would prefer to see systemic change in process rather than having to seek alternative employment.

Our goal is LISTEN, STRATEGISE and DEVELOP, by conducting a gap analysis within your financial planning business, and fully understand:

  • how your overall business functions on a day to day basis,

  • the client onboarding experience,

  • your end-to-end advice process

  • how your workflows are developed

  • How your team/pods operate and interact.

  • The use of technology within your business.

We don’t do this through an online questionnaire, a survey or an evaluation program or tool. We like to do this in an old-fashioned way – in real life! We sit in your office, we listen to your administration processes and we talk to your staff. Our focus is on creating efficiencies and better workflow transmission from person to person, team to team using the financial planning software you have, which we find enhances the client experience, team satisfaction levels, improves workflow capability, all of which contribute to your bottom line.

We are then placed in a unique position to help you pinpoint the gaps in your business, identify your administration strengths and weaknesses - and formulate strategies on how to utilise assessment within your team.


bottom of page