XPLAN is an amazing system that can change the way you do business, streamline your processes and overall make you a much more profitable business. However, in our many years of helping businesses really grasp the power of XPLAN, we find that a lot of team members can have some pretty annoying pet peeves that can grind the gears of even the calmest person, making the use of XPLAN a tougher then necessary experience.
Enter the Paraplanner – the silent backbone of the business who gets in and gets the job done. These tireless workers spend hours on your valuable client plans to make sure all data is correct, the Financial Adviser is happy and the client’s needs are meet. Usually what we hear from Paraplanners is that XPLAN can either be a dream to work with, or their worst nightmare. So taking a look at our most common complaints, here are the top 3 pet peeves of the Paraplanner when using XPLAN, and if this hits a little too close to home for you, then maybe you should start looking at the way you use XPLAN.
- Incorrect Data – We know, we know. We can bang on about data a lot, but truly, this is the number one pet peeve of the Paraplanner. The major component of the Paraplanner’s role is to be as efficient and accurate as possible and incorrect data contradicts this completely. This often leads to the Paraplanner wasting time re-entering data, cross checking everything (because they are worried about ALL of the data now), and costing your Paraplanner, Financial Adviser and Clients time and money. Trust me if your admin staff are not entering the data correctly, there is 90% chance that your Paraplanner is getting very annoyed about it.
- Formatting – Paraplanners are not hired for their formatting skills nor do they want to be, however we find that Paraplanners can sometimes spend more than half of their time on post merge formatting; fixing up tables, inconsistencies with font, different colored text etc. A very fixable problem, however many are now so in the habit of fixing, choose to just carry on and a get it done (great work ethic), however not the most efficient use of time.
- Modelling – Modelling can be a nightmare for the Paraplanner when people get in and change the data, and a lot of re-modeling has to be completed. One mistake entered into Xtools+ can throw everything off, and then trying to find where the mistake is can be like looking for a needle in a haystack. Paraplanners will roughly know what the projections should look like only to get a totally different result; mind boggling and frustrating.
These pet peeves can be draining of people’s time and frustrations, but they do open up the opportunity to see what can be fixed within XPLAN and finally put an end to some of these common annoyances and time wasters.
Time and time again, we see practices who are content to stay where they are, not improving or getting the most out of their systems. It is important to remember the benefits of change, and particularly a world without daily frustrations (however we can’t stop your coworker from stealing the last office biscuit for the day).
Any of these pet peeves hit too close to home? Let us know what your biggest peeves are with using XPLAN and we can let you know what we can do about them to help.