latest Content

Now financial planners can get their clients Organised

Software launch: ABR editor Rob Kingsbury talked to Kevin Deamer of KMD Private Wealth Management about the launch of the new software and service Organised

Do you have clients who would like to better organise their personal finances and administration and would welcome a service where you take more control and provide the service for them?

If the answer is Yes, then it will be worth checking out this newly launched software, developed by KMD Private Wealth Management for its own clients, which it is rolling out to the financial planning market as a whole.

Organised aims to simplify clients’ personal financial administration and in doing so create a point of differentiation for financial planning firms and help build stickier client relationships.

I was given a demonstration of the service by Kevin Deamer. The look and feel of the software was simple, clean and intuitive. While fairly labour intensive to set up for each client, it is a service that financial planning firms could incorporate into their service offering and maintain using the skills of an administrator and/or a paraplanner.

It is not a service designed to be offered to every client but for those it would suit, it was easy to see how it could quickly create efficiencies and a peace of mind in their lives. The benefits to the adviser firm in creating that greater level of trust with the client are obvious.

The kind of client at which this service is aimed is the HNW wanting a straightforward and easy way to help them sort out their home finances, and maintain key information on their properties and/or businesses.

Deamer says the clients of KMD currently using the service are primarily retirees, divorcees and widows who welcome having someone else organise their bank accounts, remind them when their car tax and insurance is due, keep an eye on their books to keep them on track with their financial plan and retain their ICE (in case of emergency) pack on file should it be needed.

The service can be offered also to people looking after someone else’s affairs – for example those with lasting power of attorney – and to clients who want a handy piece of kit to help organise their own domestic finances.

Originally created for a particularly busy client who was frustrated by the hassles that his particularly large and diverse portfolio of assets caused him, Kevin says the success of the service led him to think about rolling it out to more of his clients.

“Over the years we have developed and improved the features based on experience gained from working with clients using the facilities,” he says.

Deamer says providing the service has not only helped differentiate his firm in the market, but clients are receiving a service that is of value to them and that builds greater trust and loyalty into the planner /client relationship. “Clients place great value on feeling organised and in control of their finances and their lives,” Deamer says.

Password protection, data encryption and secure server hosting ensure client data is held securely and safely, he points out.

Organised is available as a white-label offering, on a monthly license from KMD. Financial planners can choose whether they charge clients a fee for the service or give it to them free as an added value service and Deamer says most firms will already have the competencies within their staff to operate it.

Watch the video here

organised-intor-shotHow it works

When setting up Organised or a client, the adviser firm opens a cloud-based account and within that creates a series of vaults relevant to the client’s financial situation. These can include, for example, financial products, vehicles, banking, businesses, personal, liabilities, properties and other assets.

All the client’s correspondence and documents are scanned and loaded into the relevant vault. Clients can choose which elements of the service they use.

As the service is cloud-based both the client and the designated person in the adviser firm have 24/7 access to it.

With all the client’s personal information in one place, staying on top of the client’s administration and helping to organise their lives is simple, Deamer says. Once a month the client sends the relevant documents received in that month, which are then scanned into the system to keep it up-to-date.

This enables the designated member of staff to send a monthly pdf to the client showing their upcoming events for the month ahead, which might require their action, such as their car MOT or servicing, an overspend on their bank accounts, or key tax dates.

Tax sensitive documents can be tagged as such and auto-collated at the end of the tax year for onward transmission to the client’s accountant. Records of any gifting made by the client can be kept also in a dedicated vault.

In addition, a quarterly cashflow can help show if the client is on course with their financial plan or if they have strayed, and provides the opportunity to steer them back on course.

While the service may take a member of staff a while to set up – to visit the client’s home, sort the relevant documents and scan them into the system and over the next 2-3 weeks liaising with the client to fill any gaps in the information – over time the service falls into a pattern and becomes easier to operate, Deamer says.

“We are not trying to be too clever with the system. We wanted it to be straightforward, easy to use and quick to find what the client or adviser is looking for,” Deamer says. “It’s about getting clients organised and keeping them organised.”

For more information on the service watch the video or go to



More Articles Like This