A practice with 25 staff got absolute clarity around what their gaps were, so they could improve efficiency and service

The challenge

We worked with a practice within a licensee which had a few very committed and hard-working advisers and a large number of support staff. They had strong revenue and an unblemished compliance record but the leaders in the business were all working weekends just to get by.

What we did

We performed a “gap analysis” identifying what we saw as the issues around people, policy, process and governance. Through this process we determined that the practice was over engineering their service offering and could apply a “less is more” approach to compliance. We helped them reduce their file note template from 16 pages to 4 and and had this approved by their licensee.

The outcome

There is still work to be done, but the practice has already saved countless hours per client and now has a clear action plan to implement to further improve efficiency. We will continue to work with them and have started supporting one of the leaders in the practice with mentoring to help them grow.