What is your time worth?
By Erik Begg
Relationship Management Team
Canadian Western Trust
The advent of a paperless society has most of us awash in a fountain of information, data, work and YES -even paper. Following are a few specific examples of items that may drain your most valuable resource - time (and how we can help):
Example 1: You and your assistant spend a couple of days away from your clients (and your revenue stream) printing statements, verifying statements and stuffing statements into envelopes. With any luck, you have enough paper, toner and postage on hand. On top of that, you have to be ready to explain how all those individual statements from all those different fund companies correspond to the portfolio statement.
Example 2: It is annual RIF payment time and every year there are more and more RIF annuitants. You have to make client calls and then to the fund companies. Once the payments are out, brace yourself for the phone calls, as you now have to explain each of the small entries in your client's bankbook as the fund companies make their portion of the overall RIF payment.
Example 3: As always you keep a close eye on your client investments. If you don't have a nominee account you make calls directly to the fund companies. Chances are you will find yourself on hold from time to time until you get through. If you are lucky you might catch up on some reading while you wait.
Three possible areas where CWT can help save you time! How?
One statement. One payment. One phone call.
One low annual administration fee.
What is your time really worth?