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Client data under-utilised by accountants


Accountants are missing out on revenue by under-utilising the client data that they already hold, according to AFSL holder FPT Wealth.

By Miranda Brownlee 8 minute read

FPT Wealth director Tony Bates said the data that accountants have for their clients is invaluable, and with technology becoming better at extracting it, it can be used across the practice to better identify client needs, and thus provide more targeted services.

"If they wish to grab the opportunity all they need to do is look at that data, and start the conversation."

Mr Bates said accountants can interpret the data and then make enquiries with clients about what it means, which paves the way for upselling opportunities.


"[For example], why is profit down this year in a business sense? Or how much interest are you paying relative to salary?"

If the data shows the client has a lot of debt or young children, he said, this might be an opportunity to address insurance with the client.

"Or if they're looking at what age, they might ask the client if they've commenced a transition to retirement income stream," said Mr Bates.

"There's a lot of data there that can lead to a conversation."

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