Increase referrals to navigate reform

As regulatory reforms continue to place pressure on business revenue, increasing the number of referrals advice businesses receive may help solve the problem. 

Increase referrals to navigate reform

elaina

Last Updated: 25 August 2015 Published: 25 August 2015

Director of charter-aligned advice firm Enva, Michael Baragwanath, and his business partner Mark Henderson, have launched Connection Engine - a tool which helps advisers build and maintain their professional referral network.

Connection Engine aims to significantly increase productivity and help more advisers be put in contact with clients, a statement from Enva said.

"With many marketing programs focused on targeted messaging and life stages the My Financial Fitness health check provided by Connection Engine takes a different approach," the statement said.

"My Financial Fitness measures a client's financial health across five critical aspects: legal protection, debt management, personal insurance, wealth planning and cash flow."

"After receiving a score and personal insights, clients are encouraged to connect directly with the diary of a professional who can help lift their score and improve their financial fitness," the statement said.

Beyond assisting with referrals, Enva said Connection Engine can also provide analytics to an adviser's business on the time taken to provide advice and client financial health.

"I'd love nothing more than to present a data set showing exactly how personal financial advice improves the financial health of Australians," Mr Baragwanath said.

"If enough advisers find this software valuable, we will be able to show what we know. That personal advice delivers tremendous value to the Australian consumer," he said.