30+ New Clients: Ready or Not?

Is your financial advice practice growing? Those might be tears of joy... or overwhelm.

Recent industry data suggests an unprecedented opportunity for growth in the financial advice sector. But with great opportunity comes great responsibility - and potentially, great stress. Let's dive into what this means for you and your practice.

The Numbers Don't Lie: A Tidal Wave of Demand

The stats on the future demand for financial advice are eye-opening:

• There are 750,000 Australians retiring in the next 5 years
• We’re expecting over 486,000 clients to enter the market for financial advice
• Current demand means every adviser could take on 30+ new clients

This surge in potential clients isn't just a blip on the radar. It's a seismic shift in the landscape of financial advice, driven by an aging population and increasing complexity in personal finance.

The Four Pillars of Future Success

A recent Deloitte Access Economics / IRESS report highlights four key pillars that advisers must embrace to thrive in this new environment.

Among these, technology stands out as a critical factor.

In fact, 76% of advisers agree that the sector needs to evolve technologically to serve more customers profitably.

But what does this mean in practice? It's about finding ways to scale efficiently, maintain personalised service, and manage an increased workload without burning out.

The Growth Dilemma: Opportunity or Overwhelm?

For practices looking to grow, the opportunity is massive. But it comes with a caveat - you can only capitalise on this growth if you can scale efficiently.

This is where many advisers find themselves at a crossroads:

1. Embrace the growth: Take on new clients, expand your practice, and potentially increase revenue significantly.
2. Maintain status quo: Keep your current client base to ensure quality of service, potentially missing out on growth opportunities.

The choice isn't always clear-cut. Growth without the right systems and processes in place can lead to overwhelm, decreased service quality, and ultimately, dissatisfied clients.

Technology: The Key to Scaling Successfully

This is where the right technology becomes not just useful, but essential. With the proper tools, you can turn potential overwhelm into exciting opportunity.

Enter Claras. For example, our Clarity+ feature is designed to be the digital co-pilot every growing practice needs. Here's how it helps:

• AI-powered analysis: It summarises key details from past client file notes, helping you maintain a personal touch even as your client base expands.
• Turn passive file notes into shared client intelligence: Anyone in your team can quick get up to speed on what's important about each individual client.
• Personalised service at scale: Balance the power of technology with the irreplaceable human touch that clients value.

Making the Choice: Ready or Not?

So, back to our original question: Ready or Not? Are you ready to take on the 30+ new clients per adviser that the market is offering?

With the right technology partner, that answer can confidently be "Yes".

Claras helps you stay ahead of the curve, transforming the potential pain of growth into the joy of opportunity.

Your Next Steps

Ready to turn your practice's growth from overwhelming to exciting? Here's what you can do:

1. Assess your current capacity and growth goals
2. Evaluate your technological readiness for scaling
3. Book a Claras demo to see how Clarity+ can support your growth

Don't let this wave of opportunity pass you by. With Claras, you're not just keeping up – you're staying ahead.

Book a Claras demo today or sign up for a free trial at www.claras.ai/signup

Remember, in the world of financial advice, the future belongs to those who prepare for it today. Make sure you're ready.