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Virtual Financial Planning Support: A Must for Financial Planners

A day in a life of a financial planner is hectic. Not only does one require the knowledge, professional competency in wearing many hats and beyond is also one of them. While you are on your way to success, getting there means ensuring that every nitty gritty of tasks on hand are covered not to mention having time for yourself, too.

This is where you need a reliable and a highly skilled virtual financial support assistant.

Let’s drill into the details and let us explore the why’s and how’s of getting on board a virtual financial planning support.

Why Hire a Virtual Assistant for Financial Planning Support?

You may want to believe that you can carry on with all your tasks and still grow on your own. However, it is impossible to earn double or triple without passing any tasks to someone else. Automation can’t solve everything yet and even so, it would still require human verification. Part of expansion is to find a virtual office assistant that you can rely on to and help you with administrative and other repetitive tasks so you can focus on what is more important.

Here are some of the many tasks you can delegate to a financial planning support assistant:

  • Organise meetings and appointments
  • Prepare client meeting pack that will include FSG, Adviser Profile, Fact Find, Risk Profile and Third-Party Authority
  • Ensure all important data is in the financial planning software like XPLan or Midwinter, to name name a few
  • Perform Fact Find wizard and risk profiling
  • Ensure all critical data is in financial planning software and CRM.
  • Double-check if data is incomplete and coordinate with product providers, clients, etc.
  • Lodge signed Third Party Authority to product providers
  • Assist in the preparation of Due Diligence reports
  • Input data to Wealthsolver, Xtools (CALM) and Risk Researcher
  • Monitor review dates for insurance
  • Send reminder letters and review letters to clients
  • Coordinate with insurers
  • Obtain Risk Quotes from Product Providers (i.e., policy types, benefit amount, etc.)
  • Pre-fill application forms and member data forms in preparation for the client’s signature before submission to government agencies or providers
  • Do research based on Client/s existing data risk, Superannuation, banking arrangements, etc.
  • Liaise and follow up information with fund managers, administrators and life companies regarding documentation, etc.
  • Update financial planning software and CRM for any changes in client’s circumstances
  • Update and communicate with clients regarding supporting documents required in preparing their SOA
  • Assist in the preparation of SOA

A virtual office assistant is widely preferred by Australians due to cost efficiency. With a virtual financial planning  support assistant, you don’t need to spend an extra overhead for someone you’d be requiring to show up in the office every day. Output will basically be the same as they are focused with their tasks on hand rather than spending their time chatting with their officemates.

On top of that, as we all need a break,  work does not need to take a pause while you’re spending some time bonding with your family. Take a holiday with peace of mind while your work runs on its own. Taking a break is one of the most overlooked essentials but our bodies and minds need it. Stepping out and re-energizing can give you better perspective when it comes to handling your work, and a well-trained virtual office assistant can definitely take care of the mundane tasks you left so you can put your mind at ease.

How Do You Hire a Reliable Virtual Office Assistant for Your Financial Planning

Not all virtual assistants are created equal. Since the pandemic started, the outsourcing industry has experienced big growth. As a financial planner who has built a reputation in the industry, you need an office assistant who cares about your business.

Sure, it can be tempting to hire a low-cost assistant. However, it is not guaranteed that they’ll be careful, for instance, with data security. 

There is always a considerable risk with adding a new member to your team without knowing their experience and capabilities. You’ll need a virtual office assistant who would stay in the long haul because hiring new staff for the same role costs you both time and money.

If you want to know if you are on the right path in hiring virtual financial support, here’s a quick checklist for you:

A Virtual Office Assistant Who Shows Up

Imagine hiring a staff who would only show up for a few days and then disappear after briefing them with all the necessary information. Or after a few weeks of work? Unfortunately, this happens a lot. Applicants would jump in and out from one employer to another for different reasons, and that’s the last thing your busy schedule would need.

It can be tricky to find an experienced online assistant who knows what to expect in working online and serving Australian financial planners. The best solution is hiring a company that offers online support services that specialise in financial planning.

That’s where Virtual Office Angels comes in. Our team is made up of highly-skilled and well-trained professionals whom you can rely on. We’ll do the screening for you to ensure that you get best virtual office assistant.

A Virtual Office Assistant Who Matches Your Requirements

While it is vital to find an online assistant who have the skills, experience and personality that may suit your requirements, an exact match based on what you need is what sets Virtual Office Angels apart from other service companies.

As we’ve been in the business for over 12 years now, we know what most Financial Planners need and at the onset, we shall already evaluate if the candidate is a match and would suit your requirement to a T.

A Virtual Office Assistant that Comes with a Supporting Team

And because we’d like to ensure that your virtual office assistants do what they say they’ll do, our Virtual Office Angels’ team leaders ensure that you reach your goal because your online assistant shows up on time and works effectively and efficiently on their tasks– whether you’re online or offline. A monthly check-up where the supporting team gathers feedback to see which area our virtual office assistants can improve on is also one way to keep the line of communication smooth. 

Ready to work with us? Contact Virtual Office Angels for a free quote: 1300 737 883.

10 Signs You Might Need to Hire a Virtual Assistant

Has somebody ever told you that you need to hire a virtual assistant, yet you wonder if it is the right move for you? In which way could a virtual assistant help you in your business?

Check out these 10 signs that mean you may need to hire a virtual assistant. If you encounter at least five of the issues mentioned, the best step for you is to hire a virtual assistant – ASAP.

Virtual Office Angels

Being an entrepreneur can be both exhausting and rewarding. And the trap that most ambitious business owners fall into? It is the thought that if they work hard and fast enough, they can accomplish everything by themselves.

However, they would wake up the next day, and they get into the same routine of getting exhausted with still a long list in their hands.

Before you read the ten signs below, it is essential to know that there is a better way to do things. Hiring a virtual office assistant can provide you with all the virtual support you and your business need.

A virtual assistant can improve your life in so many ways and make your life easier, so along with the signs, we’ve provided you with the solution.

1.     Day-to-day administrative tasks overwhelm you.

Administrative tasks are small, tedious, time-consuming and highly repetitive that require careful attention to detail. It can steal away precious time and hours daily, weekly, and monthly from you when you could be doing and pursuing bigger things where you can exercise your valuable knowledge and priceless skills better.

Administrative tasks include email and calendar management, appointment setting and confirmation, calling clients, contacting suppliers, issuing out invoices, processing regular bill payments, calling BDMs, confirming transactions, etc., etc. – and the list goes on and on. Outsourcing these tasks to a virtual administration assistant or virtual assistant can a d will definitely save you a lot of your time, which you can use on the more important aspects of your business.

2.     You have big plans for your business, but you end up unable to implement them.

According to the Eisenhower’s urgent/ important principle, tasks should be categorised according to priority:

•          Important and urgent

•          Important but not urgent

•          Not important but urgent

•          Not important and not urgent

The important but not urgent tasks are being neglected because of the ‘not important but urgent’ tasks. Would you rather allocate the latter to a virtual assistant and focus on the first two task categories?

3.     You work more than 10 hours a day, every day, and yet you are still behind your all your tasks.

Do you find yourself also working very late at night and on weekends too? How do you live your best life with all work and no play? We may all agree that to function better, time for rest and spending time with your family are essential ingredients for a balanced life. 

Why not let a virtual assistant do your tasks while you sleep or spend time with yourself and your family? Let’s say you work 8 hours a day and a virtual assistant works another 8 hours for you. That’s actually working less and earning more. How much is your time compared to a virtual online assistant?

4.     You’re missing great sales opportunities.

Have you experienced losing sales because you are just too busy and don’t have the time to work on the marketing aspect of your business? How about hiring an online admin assistant who can take care of your social media and email marketing? Or a professional writer who can manage the regular submission of SEO articles needed by your website for optimisation.

5.     You feel stressed most, if not all, of the time.

Taking care of all aspects of your business requires a lot of focus and time. Without a virtual office assistant, you may find yourself working on administrative tasks in one minute, then suddenly finding yourself getting interrupted by a sales call. This can destroy your work momentum and can lead to a lack of focus and feeling stressed the whole day, every day.

6.     You’re not ready to pay for a local administration assistant working in an office.

Hiring a local office assistant who comes into your office will definitely cost you more expenses. That’s an extra high cost on infrastructure expense, computer, additional electricity and water bill, petrol/ transportation expense and in addition to this, a (high) local employee salary/wage, payroll tax, superannuation, fringe benefit tax, sick and annual leave entitlement, workers compensation tax, etc., etc.   Hiring a virtual office assistant offers super value for your money because the virtual assistants come equipped with their own needed resources (i.e. desktop, headsets, internet connection, etc), inclusive of annual and sick leave in their one-off monthly pay.

7.     You can’t find anyone locally or somebody who lives within your vicinity who can help you with your specific requirements.

It happens. Sometimes, the person with the exact skills you need for your business is not available in your area. In this case, it is best to find someone who can work online,  someplace or overseas or a virtual assistant, tailored fit for your needs and with exactly the skills you require.

8.     Your business does not require you to have an office.

If you are the type of entrepreneur who constantly moves around, or works remotely, then chances are you don’t need an admin assistant physically reporting to you every day. A virtual assistant is all you need to execute the much-needed tasks for your business.

9.     You need a highly skilled, flexible, disciplined, and skillful assistant who you can delegate your special type of work.

Fortunately, the industry of virtual office assistants offers a wide variety and selection of highly specialised and talented online workers. These highly skilled virtual assistants are tailored to fit your specific needs and have more than one or even two skillsets.   Whether you need an online mortgage assistant, online loans processor assistant or online financial admin support, all you need to do is find one that suits your specific business needs. That’s what we at Virtual Office Angels comes in and can definitely assist and help you with.

10.   You want to get rid of all the hassle of the hiring process.

Despite the pool of virtual assistant talents, there is no guarantee that you will be able to hire who is best for the specific needs of your company. What if it’s not the right fit and the new virtual assistant quits right after you’ve spent time investing training time?

Let’s admit it: Recruiting a new virtual assistant for your business can be a painful process. And here’s another vital part where Virtual Office Angels can help you out with. By doing all the hard work of the selection process, filtering out the applicants, interviewing, conducting needed tests, and ensuring all the proper equipment is working for you. By doing all these, you can be assured that you’ll be matched with the right fit, highly skilled and professional virtual assistant specifically tailored for your individual needs.

Can you relate to any of the above signs? Then it’s time for you to delegate and hire a virtual office assistant for your business.

What makes Virtual Office Angels different? By hiring virtual office assistants through us, you also get a dedicated virtual support team with a client care manager that ensures optimum and outstanding service is delivered for you.

Make your life easier and contact us.  

How to Save Time Whilst Getting More Things Done

Time is money, but unfortunately, not every business owner takes this saying seriously. Every hour you and your staff spend on your business must add value to your business. Thus, it makes a lot of sense to optimise how your company spends that time fully.

Time management, however, is easier said than done. For instance, only 20% of an average workday is spent on essential things, while 80% of it is spent on – you guessed it, time wasters. To solve this, it is best to identify the time wasters in your workday and find a solution to reduce them to get more things done.

It is also essential to know that there are ‘time wasters’ that are only applied to you. As the business owner, you play the most valuable role, so your time and skills must be spent wisely. This means your time is better off doing something most important, while you can allocate other repetitive or administrative tasks to a professional and highly skilled virtual assistant.

For example, suppose you are in the Australian mortgage and finance industry and working as a mortgage broker . In that case, it may be wise that you delegate and offload the time-consuming tasks to a highly skilled virtual assistant who has specific knowledge in helping you do your day-to-day tasks, such as data entry to broker’s CRM (Connective, Mercury, ApplyOnline, Podium, Symmetry, AdviserLogic, COIN, etc.), as well as knows how to communicate with clients, patiently wait in the long queue for the BDMs to answer the calls, conduct lender research, prepare servicing calculator, etc.

Here is a step-by-step guide on how to reduce or stop your business’s time wasters to get more things done:

Distinguish the common time wasters in your business

Off the top of your head, you probably know what these are. These are obvious time wasters in your business, such as daily meetings, internal emails and micromanaging your staff. According to research, about 40% of staff time is wasted on reading internal emails – that’s a lot. Do you really need to update your internal staff this way?

Another time waster, if you have staff to manage, is micromanaging employees. This is when you try to control every tiny detail of your business. You might be the person who asks for frequent updates or prefers to be cc’d on every email. Or maybe you focus too much on unimportant details. Micromanaging does more damage to your business as it discourages independent decision making by employees and leaves no room for creativity and initiative.

Point out the less-popular time wasters

These things make you less productive, but you often don’t notice. This could be sending emails back and forth, which can be solved by just picking up the phone and talking to that person. This could also be the ambiance of an office. Is your office too open that you hear every little thing that happens in it that you can’t focus on your work?

Another example is taking breaks, which is beneficial as it avoids the feeling of burnout and fatigue. However, it can also derail you from work. Another overlooked time waster is decision fatigue. This refers to exhaustion from making unimportant decisions that could affect making impactful decisions. This is the reason why Mark Zuckerberg wears the same shirt colour every day – this leads to fewer decisions he has to make in a day.

Gather data from your time wasters

This is the time to track the time you and your staff spent in the office. Although it might be impossible to track everything, there are software or apps that can help you, such as RescueTime, time-tracking software, and Toggl, project management software. Another way to get more information is to conduct an anonymous employee survey to determine which time waster is more impactful on their tasks.

Use Alternative Solutions to Stop Wasting Time

Once you’ve compiled the list of top time wasters, it’s time to examine them. You may want to ask yourself the following questions:

Is it possible to avoid or even stop this time waster? 

Social media are a distraction at work and can be avoided or even be stopped with a website blocker. You may also encourage your staff to use the Pomodoro Technique, in which one works non-stop for 25 minutes, followed by a 10-minute break.

Is it possible to reschedule?

An example is a weekly meeting. Could it be turned into a once-a-month meeting?

Is it better to delegate this specific task? 

There are essential tasks that are beneficial to the business which can be time consuming and frustrating but must be done. These are repetitive admin tasks and/or part of the entire process that can be delegated to a highly competent virtual assistant.

Conducting the above steps might take some time, but imagine the time you can save and be productive instead.

Only a Highly Skilled Virtual Assistant for Your Repetitive Tasks and Time Wasters

Whether you are an employee working for a large organisation, a business owner managing a medium/small company or a self-employed working from home, you can reduce time wasters and get more things done by leveraging and maximising the use of highly specialised and professional virtual assistants.

Like any other businesses or if you are in the Australian financial planning industry and working as a financial planner, you’ll need a highly experienced and tailored-fit virtual assistant who is knowledgeable in navigating software, such as XPlan, Zoho, WealthSolver and XTools (CALMS). These highly specialised virtual assistants also know how to manage SOAs, coordinate and speak with other insurer brokers, monitor review dates for insurance and even organise meetings and appointments, if needed.

Your ‘time wasters’ are better off done by a virtual assistant you can trust and rely on, a person who’s fit to your highly special and specific needs. And that’s where Virtual Office Angels comes in.

Why Work with Virtual Office Angels

Established in 2010, Virtual Office Angels P/L is a boutique Sydney-based VA outsourcing company that specialises solely in the recruitment and management of only highly skilled virtual assistants (VAs) from the Philippines. With our combined 45-year work experience in the Australian human resources and recruitment management industry, we can help you work less, earn more and grow your business faster in the most cost-effective manner. As one of our clients said, ‘Same quality, fraction of the costs.’ More importantly, we specialise in the search and matching of highly professional virtual assistants for your special needs who can minimise, if not eliminate, time wasters for you and your business.

Contact us for a free quote.