Lifetime Financial Management has unveiled a new tool to support advisers with effective client segmentation, allowing them to focus on nurturing relationships with their higher-value clients.
The Carve-out Calculator, which has been launched through Lifetime FM’s client transition service Lifetime Enhance, enables advisers to model the potential impact on revenue and adviser capacity when segmenting clients by portfolio size, including forecasting improvements in overall efficiency.
The tool also highlights opportunities to transition clients who may be better served by another firm, helping ensure all clients receive appropriate support while allowing advisers to operate more strategically and profitably.
Andy Wealthall, managing director at Lifetime FM, said the firm’s hybrid advice model means it is well placed to welcome clients who are new to financial advice or those who have a lower portfolio size.
“Our Enhance Carve-out Calculator shows advice firms how their business could grow in a sustainable way while continuing to deliver clear, compliant, relationship-led support to their clients,” he said. “By entering just a few top-line figures, advisers can get a clearer view of how their firm could look if they had more free resource to build high-value client relationships.
“The Enhance service delivers a two-fold benefit by helping IFA firms grow and focus their efforts on what works for them, as well as ensuring all clients are serviced and looked after, whatever their portfolio value.”
He added: “This approach to client segmentation has delivered a 10% increase in average portfolio sizes for many of the advice firms we have worked with and most importantly, the service model works to close the advice gap.”
