ASTA, a ‘speed dating’ event for accountants, gives them the opportunity to discover the latest and greatest in accounting technology, including services from companies such as Ignition Wealth.
Richard’s presentation began with an introduction to Ignition Wealth, explaining their 6-year involvement in the super fund industry, mainly helping to power online financial advice for large superannuation funds including HESTA, CareSuper, and ifs.
Next, Richard went into a discussion of how you can offer clients true value, by highlighting the difference between client needs and client wants. Problematically, most business to client communication focuses on client needs – such as auditing, payroll, or business planning. However, very little of what is communicated to clients is concerned with what they want – such as confidence, peace of mind, and control. By changing the way in which advisers and accountants communicate with their clients – and by focusing on what they want instead of what they need – they will be better able to offer their clients true value.
After that, Richard outlined the way in which you can allocate resources more efficiently. As resources are scarce – both human capital and financial capital – it’s vitally important to understand what the client wants and doesn’t want. Following on from this discussion, Richard stressed the importance of effectively engaging with your client, by understanding their true wants. The final four topics concerned strategic focus (finding the sweet spot between what you’re good at, what makes you money and what you’re passionate about); investing in innovation; future proofing the elements of your business (i.e. looking at price expectations); and highlighting how the Ignition Wealth platform provides a total solution for accountancy/adviser businesses.
View the presentation here.