Case Study
Oracle Investment Services offers custom financial planning services and solutions designed to help each client achieve goals specific to their future plans. The company’s dedicated team is committed to success and uses both in-depth knowledge of the investment industry and a deep understanding of current and emerging financial tools to advance their client’s financial plans. In addition to financial planning, Oracle also offers superannuation, insurance, wealth creation, retirement planning, and estate planning services.
Currently, the firm has 400 clients who they see once per year, but serve the need of 1,000 clients in total all across Australia. While that is a testament to the firm’s ability to deliver critical advantages and help their clients achieve their goals, there were growing challenges to the company’s success.
Oracle grew rapidly, and with 1,000 clients nationwide, the firm could certainly be considered “established”. However, with the growing number of clients and increasing complexity of financial planning and wealth protection needs came numerous complications, particularly on the administrative side. In addition to slow turnaround times, the team noted a significant number of grammatical errors and other issues with plans, which required additional time and attention in the office to correct. As a result, the office’s productivity level was affected, but so too was the company’s bottom line.
“We really faced a couple of challenges,” explained Tommy Laskaris, Managing Director. “We were using an Australian-based outsourcing company for our paraplanning services, and although they were producing good plans, we found that the cost point was starting to get a bit high for us due to the number and complexity of the plans we were sending through.” Oracle was also finding that the turn-around times were lagging, producing an increasing number of roadblocks for the business.
Faced with dwindling profits and a slowing pace in the office, the Oracle team sought answers and a solution that would allow them to increase productivity, reduce costs, and, ultimately, help ensure they were able to serve their clients to the best of their abilities. “Our bottom line was being affected as a result [of the lost productivity and increased costs], so we decided to look for alternatives,” Tommy summed up. “Another financial service group referred us to Valenta, and the rest is history.”
With Valenta, the Oracle team quickly discovered a solution to their two most pressing challenges – keeping productivity high and protecting their profitability, while passing cost savings along to their clients and ensuring the highest degree of accuracy and professionalism in all areas. Valenta’s solution delivery included a full-time, offshore Paraplanner who works with the team 40 hours per week.
Working with Valenta has delivered critical benefits and advantages to both the Oracle team and the firm’s clients. Not only have they been able to reduce costs, but they have dramatically shortened the time required for planning, allowing the team to serve more clients, faster, and with greater accuracy.
“I’ve been really impressed with the technical capabilities of the Paraplanners we’re using at Valenta,” Tommy said, “and also with regard to the quickness of the turnaround times with our plans. Previously, we would have had to wait for one to two weeks minimum before we had completed plans from our previous outsourced service. With Valenta, we have a turnaround of one to two business days. This is excellent for our business, as we can see clients quickly and provide them with timely advice. And our Paraplanner’s work ethic is fantastic.”
Put simply, the relationship with Valenta has enabled Oracle to increase productivity while reducing costs and increasing profitability. Client satisfaction ratings have increased, errors and issues within plans have been eliminated, and turnaround time is a fraction of what it once was.
“We’ve had some very good cost savings with our outsourcing arrangement with Valenta,” Tommy stated. “We found their cost to be very competitive, which has benefited our bottom line. Plans are also being turned around in a timelier manner, which means we can do what we do best – provide advice to clients and not have to correct grammatical errors on plans or wait two to three weeks for plans to be delivered. We have found Valenta’s service to be very professional, very capable, and very timely. As a result, it’s increased our profitability and enhanced our bottom line.”
