The end of another interesting week at engage partnership. Started with our latest Citywire interview on RDR change challenges being broadcast and ended with an interesting exchange with Lord Turner and Hector Sants at yesterday’s FSA annual public general meeting.

http://www.citywire.co.uk/new-model-adviser/mastering-your-business-moving-from-commission-to-fees/a501902

I am pleased to report that after much hard work and tinkering from our two highly motivated and enthused techy experts, Les and Chris, we now have 2 further analytic tools available for financial service organisations which add extra value for activity based management, in client facing activity and key performance indicators measurement for CEO’s and senior management.

Our Viability tool is designed as the first smartphone app to measure and analyse client focused activity which can be employed by financial advisers, wealth managers and stock brokers to assess time spent with the client and justify adviser fee charging. This pivot technology feeds back to a compliant centralised dashboard which may then produce detailed timesheets  and spreadsheets to give the business and the consultants the information needed to justify their fees and the ensures clients have no point of redress as the information is input whilst they are in their advisor meetings. We already have a client ready to go for a 3 month trial.

SYSC-Board is similar in monitoring and tracking CEO and senior management activity in ensuring they are up to speed with regulatory demands and their KPI’s and sits as a dashboard app on a smartphone or pc/laptop computer. Both analytic tools are easy to use and are built around the business, regulatory and clients needs.

We then move onto Related Vision software which for the first time means intermediaries and financial firms can measure their internal (departments) and external (clients) relationship capital. If you read my last blog on this subject then you can see how important it is to track where our relationships are with our associates and clients and ensure they are a true partnership which creates fair exchange and high trust. Related vision will be available in September this year and sits with our ‘Better Client Relationships’ modules.

We then move to Mr Sants. As some of you know I’ve spent the last 12 months writing my book entitled; “Winning Client Trust; The Retail Distribution Review and the UK financial services battle for their clients hearts and minds”.

Well as I was offered the opportunity to pitch a question to Hector and Lord Turner yesterday at the FSA annual meeting, I off course took the opportunity to pitch my book and low and behold, both the top tier regulatory officials will accept a copy (free off course!), If you don’t ask, you don’t get I guess. My question was tilted at the new ‘twin peak’ regulatory bodies the Financial Conduct Authority and Prudential Regulatory Authority and the fact that the risk with such an arrangement is, it’s good for the short term maybe, but what about the long term issues such as financial capability of the general public and education on behavioural economics? Hector Sants seemed to think this is in hand, yet more work needs to be done with help of 3rd party consultants, enter engage…..

We now have an active summer upon us, the books with the publishers and will need a round of formatting and we’ve got the book launch to organise for September. The Analytics tools licensing will be fully available in August and ready for distribution. Finally, but not least, the engage ‘Better Client Relationships’ programme will be launched 3rd quarter 2011 in synergy with our related vision software to assess the quality of organisation’s relations with their clients and give techniques and coaching to stop a ‘silo’ mentality where client acquisition processes can cause battle grounds and be detrimental for the long term benefit of all parties.

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So all in all an interesting week, much to build on and much to do to ensure we facilitate transparency for our partners services and products and engender and maintain their client trust. Enjoy the weekend.