Managing Client Annual Reviews in ClientManager CRM

Conducting regular client reviews is a cornerstone of good financial planning, and our system is designed to help you efficiently manage this process. This guide will walk you through how to log reviews and understand the purpose of ClientManager's review tool.

1. General Overview of ClientManager Reviews

In ClientManager, our annual review tool focuses on tracking client interactions and advice from a planning perspective. When we talk about 'reviews' or 'annual reviews', we're referring to Step 6 of the six-step financial planning process – ensuring a client's plan remains appropriate for their circumstances.

What's the Purpose of the Review Tool?

The primary purpose of the review tool is to help you keep track of which clients you've had sufficient interactions with to be considered "reviewed," and which clients still require an appointment or follow-up. While financial plans are generally reviewed annually, not all clients require the same depth of review. For some, a simple email with a portfolio statement and a few questions might suffice, while for others, a more involved discussion is needed.

ClientManager provides an open space for you to add review comments, as what constitutes a 'review' can vary based on individual adviser practices and compliance requirements. We don't prescribe specific content, giving you the flexibility to adapt to your needs.

What Does a Client Review Typically Include?

From an advice perspective, a client review normally includes:

A portfolio summary.
An investment review (e.g., cashflow planning, asset allocation, performance review).
Risk profiling.
Review of risk planning needs.
Other relevant documents and discussions.

ClientManager assists with this by providing a space to record discussions and review notes. Our meeting scheduler can help you arrange and confirm appointments (virtual or physical), and our email storage can be used to record email-based interactions. All these client interactions are stored in the Interaction Log, forming part of your comprehensive record of advice.

2. Logging a Client Review

Logging a client review in ClientManager is straightforward. Review notes can be brief, as their main purpose is to document how you've ensured the client's financial plan remains appropriate or how it was adjusted due to changes in their circumstances.

It's crucial to record whether the client's circumstances have changed and how this affects their planning. While all your interactions throughout the year are automatically logged in the client's Interaction Log, reviews specifically prompt you to confirm if their planning is still appropriate and to record how you determined this.

Steps to Log a Review:

Search for a client and navigate to their profile.
Click on 'Log Review' in the Top Menu.
Select the 'Review Time' and 'Date'. This is typically the date of your appointment with the client when the review was conducted. If the review was sent via email or post, you can enter the date of sending.
Next, the 'Review Type' can be set:
- 'Could not reach': Selecting this option implies the client could not be reached at all and marks the review as complete. It should not be used if you intend to postpone a review.
- 'No longer a client': If you select this, please note that the client will NOT automatically be marked as inactive, meaning their review reminder will still come up next year. Remember to mark the client as inactive manually if you wish them to no longer appear for reviews.
Enter 'Review notes'. This is a versatile space for any comments or details related to the review. Common uses include:
- Changes in the client's circumstances since their last review.
- Discussion notes from any telephonic or physical conversations.
- Where additional information regarding the review can be found (e.g., saved emails).
- Whether feedback on the client's policies or investments was provided.
Click 'Log Review' to save the review.

Once a review has been logged, the client's profile will show their 'Reviewed' field as 'REVIEWED' instead of 'TODO' under their personal details.

Important Considerations:

If a client is not ready to be reviewed, or if a review needs to be postponed, it's recommended that you change the review date and make a note instead of logging a 'Could not reach' review. This helps maintain accuracy in your review log for compliance purposes.
If a client should not be reviewed at all (e.g., they've left your practice), change their state to 'Inactive' or 'Deceased' in their profile.

Need More Help?

We trust this guide helps you effectively manage client reviews in ClientManager CRM. Should you have any further questions or require assistance, please don't hesitate to contact our support team. We're here to assist you!