Strategy Steps launches the strategy matrix advice tool

Assyat David

Assyat David

How does an adviser determine the right advice to give the average Australian? And what are the appropriate advice questions and the strategy considerations?

According to the Australian Bureau of Statistics, the average Australian is a 37 year old woman, born in Australia and with both of her parents also born in Australia. She is married, and lives with her husband and two children (a boy and a girl aged nine and six) in a separate house with three bedrooms and two cars in a suburb of one of Australia’s capital cities. They have lived in that house for at least five years, and have a mortgage.

But in reality, very few clients if any will fit into this profile. Each client has a unique set of circumstances so determining the right advice options can be a difficult task.

Strategy Steps has boosted its Desk Caddie® advice tool with the launch of the ‘strategy matrix’ to provide advisers with the steps to identify strategies and advice issues appropriate to a client’s age profile or life event. This helps advisers to develop strategic advice for clients based on their own specific situation including the situation of the average Australian.

Assyat David, Director at Strategy Steps said “The new strategy matrix is a unique advice tool that helps advisers to develop quality strategic advice for clients which is appropriate to their specific situation, adding value to the relationship and demonstrating that they are acting in the client’s best interest”.

She said “The strategy matrix can be used with existing clients at portfolio reviews to ensure key advice issues are addressed and to address client changes. It can also be used with new clients as an advice guide to capture the key advice issues to be addressed.”

The strategy matrix includes references to StepListsTM, client marketing articles and tips relevant for each advice step.

David added “The StepListsTM provide a guide to develop and implement specific strategies and the client marketing articles help advisers communicate opportunities to clients.”

Other benefits of the strategy matrix include:

  • Visual guide: assists clients with understanding the advice process and how their goals and objectives may be achieved
  • Refresher for advisers: helps new and existing advisers be aware of the advice steps relevant to a client’s age and/or life event
  • Compliance record: provides a record of the advice process undertaken with the client
  • Additional source of guidance: complements other tools that advisers may use with clients – e.g. fact find, risk profile and budget planning tool

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