The Elements Ironstone Blog

Current news and trending topics for sales and financial industry professionals

Think Client Workflows Are Corny? Think Again…….

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Growing up on an Iowa farm was one of life’s greatest pleasures. One of my fondest memories was the gathering of relatives when it was time to freeze corn.  Nothing tasted better in the harsh cold winters than fresh farm corn; but the preparation of freezing corn consisted of a workflow detailing responsibilities each family member had to complete during the process.

The objective of Ironstone’s Fundamental4™ –Operational Effectiveness and the New Client Workflow, serve as the foundation of your unique process to solve problems, manage interaction, automate tasks and provide consistency for positive and repeatable impact to the client experience.  The same was true when we would gather for our annual corn freezing day.

In our blog, Workflows & How They Enable Execution Of Your Business Strategy,https://aeschlapia.wordpress.com/2012/04/24/workflows-how-they-enable-execution-of-your-business-strategy/,   we reviewed two primary objectives of a client workflow system; improved efficiency and profitability.  The new client workflow will provide the mechanisms needed for all team members to work together seamlessly providing a high level of client service.

The absence of any workflow model in a firm is a primary culprit for office inefficiency

Each advisory firm will have a unique process that works to the advantage of its clients, team members and the firm. Create a checklist for each of these fundamentals to allow your client workflow to take the repetitive activities and routines out of your brain and let it rise above to focus on more difficult tasks.  Download our guide for Creating Checklists:   How To Create Checklists

Review the foundation and objectives of your new client workflow, ensuring that each component is aligned to achieve goals of your firm;

  • Solve problems:  Problems are easily identified when using a client workflow system.  The system provides you the ability to assess exactly where a client falls in the process, allowing you to identify any problem areas and address them accordingly in a timely and efficient manner.
  • Manage interaction:  Client relationship management is easily managed at any given point and time.  By implementing a new client workflow you are able to identify the progress of each step being taken to ensure superior client service.  The process gives you the opportunity to communicate information and answer questions that may arise from your client.
  • Automate tasks:  Tasks will be automated with a client workflow process allowing each team member to hone in on their specific duties.  By automating tasks, you will increase efficiency and productivity within your firm.  With documented procedures in place, task productivity is available for tracking during the process.
  • Provide consistency for positive and repeatable impact to the client experience:  Each  process within your client workflow system is inter-related. Workflow systems will benefit your firm by enabling you to continually provide excellent client service, concentrate on your areas of strength, build accountability for your practice, enable you to deliver more comprehensive services, assist in managing regulatory and compliance related issues and add value to your firm for re-sale purposes.

Ironstone can assist you in developing a comprehensive new client workflow. We specialize in identifying gaps in your existing plan and will collaborate with you to develop solutions that are parallel in achieving the results you desire.

A workflow system should always be a work in progress. Your practice will evolve and grow; and your firm will encounter regulation, compliance and industry change. Accordingly your workflow process should continue to evolve and be updated.

We are curious!!  Does your firm use client workflows?  Which part of your client workflow reaps the most benefits?  Which part of the workflow needs to be improved?  Let us know!

Follow us as we explore each of Ironstone’s Fundamental 4™!

  • Strategic Planning
  • Business Development
  • Operational Effectiveness
  • The Human Element

Coming up next, learn about the Human Element and Communication

• Email us at info@ironstonehq.com
• Call our office at 800-917-8020 • Connect with us:

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Author: Andrea Schlapia

Over 20 years of experience in the financial industry and thousands of business professionals • Founder and CEO of Ironstone, • Certified Myers-Briggs Master Practitioner, performance culture and sales communication strategist • Certified Executive Coach through Coach U • Dynamic and entertaining keynote speaker at national conferences, breakout sessions and “lunch and learn” events • Motivating and real-world tactics delivered through value-added programs for Wirehouse, Independent and Banking channels • Accolades for the highest program evaluations and continuous return-speaking requests. • Dedicated to inspiring people to achieve bottom-line results for sustainable change: Andrea works with entrepreneurs and business professionals from various fields, striving to find and fill the gaps of each practice entrusted to Ironstone's care. Email Andrea with your practice management questions: info@ironstonehq.com

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