burder menu bar burder menu bar burder menu bar burder menu bar burder menu bar burder menu bar
book a demo here
Book a demo

Driving Adoption the Auto Enrolment Way

Learning the Secrets of Adoption from Auto Enrolment

Whichever way you look at it, Auto Enrolment (AE) has been a huge success. The DWP expected an opt-out rate of 28% and the reality is that less than 15% of workers opt-out.
Think about the benefits to your business if all of your clients were actively using your client portal to record details of all of their finances, not just viewing and reviewing their investments with you. When we say ‘all of their finances’, this includes your clients pensions, savings, investments, property, insurances, banking, credit cards, mortgages, loans etc, all in one place. In fact, pretty much everything that makes up your fact-find. What they own, owe, earn and spend. All accurate and taken from the source of the data wherever possible. Add to that the efficiency savings from removing paper from your business through shared documents, digital communications and secure messaging and additionally the accurate income and expenditure data for your cash-flow forecasting.

So why not go for an opt-out rather than an opt-in approach?
Assume that all your clients will want access to your client portal unless they opt out. The benefits of this approach are:

  • It will generate significantly more participation
  • Setting up clients in bulk saves time and increases efficiency
  • You will get the efficiency benefits from digital technology much quicker 

How could an opt-out approach work in practice?

  • Create a flag or client group on your CRM system for all of your moneyinfo clients or create a spreadsheet of all of your clients
  • Send out a bulk mailer telling them about your new moneyinfo service and giving them an opt-out deadline
  • As clients request to opt-out (which few typically do) simply remove them from your client group, unset the flag or delete them from your spreadsheet
  • Upon the opt-out deadline, import remaining clients from your CRM or platform into moneyinfo Manager and issue your logins

If you’re thinking of asking your clients whether they want online access to their data, think about Auto Enrolment and give your clients online access to their data whilst providing the option to opt-out. We think you’ll be pleasantly surprised at how many of your clients don’t want to opt out of a service that they’ll find increasingly valuable and one that can help your business to grow significantly faster, whilst becoming more efficient.

If you are considering implementing a client portal, click  here to register for one of our regular webinars, or alternatively book a 15 minute 1-2-1 chat with our Business Development Director Sim Sangha  here.