Empowering Finance Brokers: Gatheroo Streamlined Operations
Money Matters* is a leading financial advisory firm that has been serving a diverse clientele for over a decade.
With a strong commitment to delivering personalised financial solutions, the firm has built a reputation for excellence and integrity.
However, as they continued to grow, they found themselves grappling with operational inefficiencies that began to impact both their internal team and their client satisfaction.
Not just minor inconveniences
They were significant roadblocks that threatened to impede the firm’s growth and service quality.
Money Matters knew they needed to act. They needed a focused and user-friendly solution that would address their specific challenges, starting with the thankless task of collecting information and documents from their clients.
That’s when they discovered Gatheroo, a platform designed to streamline this process, and the transformation began…
Challenges Faced By Financial Service Providers
1. Inefficient Document Collection
The Manual Process: The team at Money Matters had to individually request various financial documents from each client Through an email or phone calls. Once received, these documents were manually reviewed for completeness and accuracy, often requiring additional follow-up for missing or incorrect information, again through emails or phone calls.
Time-Consuming Nature: This manual process took on average 15 hours per week, which equates to nearly half a full-time position. It was a significant drain on resources and left less time for value-added services like client advisory.
Error-Prone: The lack of a standardised process led to frequent errors, such as misplaced documents and overlooked discrepancies, which further extended the time required to complete the document collection process.
2. Client Communication Issues:
Lack of Transparency: Team members were frustrated because they couldn’t see what other team members had communicated with clients. This information was often buried in individual email accounts, leading to misunderstandings and duplicated efforts.
3. Onboarding New Team Members & Clients
The administrative overload was left to the exisiting team to deal with the onboarding process, which included document verification, training schedules, and initial task allocation.
4. Security Concerns
The sensitive nature of financial data demanded stringent security measures, which their existing system failed to provide.
Gatheroo Streamlined Operations
Money Matters opted for Gatheroo due to its intuitive interface and specialised features for collecting information and documents. They quickly realised that this could be applied to internal document collection too.
-> Robost Document Collection Process
Gatheroo’s secure portals enabled clients to upload their financial documents effortlessly, which were automatically sorted into labelled folders and securely stored within the portal.
-> Clear & Centralised Client Communication
Gatheroo’s comments section is accessible to the entire team, providing a transparent and efficient way to keep track of all client communications, questions, answers and comments.
-> Team & Client Onboarding Automation
With Gatheroo’s task lists and automated reminders, the onboarding process became more streamlined, relieving the team of much of its administrative burden.
-> Secure Client Portal
Gatheroo’s robust security protocols are in place to boost Money Matters’ professional standing, by going above and beyond the regulated protocols and providing clients with an alternative to sending information over emails.
How Gatheroo Increases Productivity & Growth
Gatheroo enabled Money Matters to streamline their process of collecting information and documents, while also enhancing team management and security measures.
- Achieved a 42% reduction in time spent on document collection, freeing up the team to concentrate on client advisory services.
- Realised a 25% improvement in the onboarding process, fostering better team cohesion and productivity.
- 68% increase in NPS with clients highlighting the portal as a critical part of their security when dealing with Money Matters.
Streamlined Operations Spurs Growth
Implementing Gatheroo in their daily processes has set Money Matters apart as the provider of choice in the Financial Services industry.
Please note: *Names have been changed to protect privacy and explicit permission has been granted from this client for this use case.
