Our tax boutique found that engagement with high-net-worth clients required a completely new approach to proposal software for tax advisers. Standard templates and basic billing methods were simply not appropriate for complicated wealth structures or sophisticated tax planning services.
The breakthrough day was when we became cognisant of the fact that high-net-worth clients appreciate customisation and details more than speed. Each proposal needed insight into the client’s unique financial ecosystem, from international holdings to trust structures.
We adopted Figsflow’s proposal automation system, specifically configured for high-net-worth services. It gave us the ability to produce sophisticated proposal templates that could provide a high-end look to complex tax planning scenarios and yet convey an atmosphere of exclusivity that the clients would expect.
With our new system, relevant case studies are automatically included according to wealth brackets and specific tax challenges. Our interactive elements allow clients to play with different service combinations while preserving discretion, which is essential when dealing with high-net-worth individuals.
Results flowed beyond our expectation. The proposal acceptance rate increased by 40% by including wealth-specific language and addressing sophisticated tax planning needs. The value of engagements increased by about 65% as clients gained a better understanding of our total service offerings.
Above all, this ensured that our partners would give consistent pricing for complex services. This execution was of utmost importance to protect our firm’s brand in the high-net-worth space.
The digital format surprisingly resonated well with our traditional high-net-worth clients. They appreciated the ability to privately review detailed service offerings, and they often shared them with family offices and other wealth advisers for consultations.
