The Revolution of Accountancy: Sydney Accountants

The Revolution of Accountancy: Sydney Accountants Save 20% More Time with myprosperity

Key Data for Sydney Accountants
  • Time Saved: myprosperity has allowed them to complete 20% more tax returns during busy periods.
  • 1300+ Clients: The platform supports over 1300 of Sydney Accountant’s clients.
  • $200 Million: Client data explaining over $200 million of asset information can be stored and tracked securely.
  • 28,000+ Docs Uploaded: Over 28,000 documents have been uploaded.
  • 3,000+ Docs Signed: More than 3,000 documents have been signed.

                                  “With all the scams around, we know that emails are completely insecure. Still, many accountants do it because it has been an accepted way of doing business for a long time, but it’s unsecured.”          

The Problem:
  • Guy Pounder, Sydney Accountants CEO, initially hesitated to fully embrace myprosperity due to time constraints.
  • Legacy systems like HandiSoft created data retrieval bottlenecks.
  • Email-based data sharing posed security risks.
The Solution:
  • Transitioning to myprosperity as a central hub for streamlined operations.
  • Encouraging clients to upload documents into the myprosperity database before meetings.
  • Providing a digital checklist for clients to follow for document uploads.
  • Leveraging myprosperity for cost management and improved service delivery.
  • Implementing a private client portal for secure document sharing and signing.
The Results:
  • Over 1300 clients adopted myprosperity.
  • Approximately $200 million worth of assets are tracked using myprosperity.
  • Improved efficiency revolutionised the business model.
  • Enhanced credibility and security.
  • Expedited tax return signing process.
Challenges

 

Guy Pounder recalls the challenges his firm faced before the myprosperity software. He notes that hesitation to fully embrace new technologies because of time constraints and change management made it difficult to progress. The prompt to change was because legacy systems like Handisoft acted as a bottleneck, severely decreasing productivity.

“We had a problem with the old portal. We had been using HandiSoft for years, and it felt like having a blocked pipe. We couldn’t pull the information out from the blocked pipe.”

These outdated systems, though familiar, often resulted in inefficiencies in data retrieval and management, wasting valuable time and resources. Under Guy’s leadership, Sydney Accountants acknowledged these challenges and made decisive action to adopt myprosperity software. Guy remembers, 

“When I learned about the myprosperity portal, we made the switch, and it turned out to be a significant success.”

This proactive approach marked a pivotal turning point in their journey towards operational efficiency. It demonstrated Sydney Accountants’ unwavering commitment to addressing these challenges head-on, aligning their operations with the evolving needs of their clients.

Furthermore, the resounding success of the use of myprosperity became evident through the number of clients they now serve. Guy proudly shares, 

“We have about 1300 clients on it now. They love the portal.”

The rapid adoption of myprosperity’s platform by such a substantial client base stands as a testament to its effectiveness in mitigating the challenges faced by Sydney Accountants. Beyond operational efficiency, it has significantly enhanced the overall client experience, establishing it as the preferred choice for both businesses and their valued clients.

Solution: A Collaborative Tool with Instant Access to Metrics

 

This transformative solution in myprosperity revolutionised how Sydney Accountants’ team and clients managed their financial information. Guy emphasises, 

“We can all have that information we can use safely and securely without exposing their records to anyone else. The privacy side of things is invaluable.”

myprosperity seamlessly integrates multiple ways of communicating with clients to facilitate improved relationships. Guy elaborates, 

“We’ll say, ‘We have a private client portal,’ and they’ll appreciate that. When they start using it and liking it, it’s perfect.”

The impact of this solution was immediate and profound. Guy speaks to the ease of the client onboarding process, saying,

“One of the first things we do is to send the link to the portal. Now they upload their documents, and we give them a digital checklist of the things we need, and they follow that checklist and upload those documents.”

As a result, through the ease of use of the myprosperity features, Sydney Accountants achieved a substantial reduction in the time required to complete quality assessments, access financial information, and communicate with their clients. He speaks to the tax return process, saying,

 “We can do 20% more tax returns during busy times, because we have a quick and efficient system.”

myprosperity’s time-saving features have proved invaluable, enabling team leaders like Guy to assess client performance more efficiently and retrieve data automatically, effectively reducing manual workloads. Calibrating these features and automatic workload allocation helps streamline task management, empowering management to focus on qualitative conversations with clients. Guy discusses the importance of this aspect for their client relationship, stating that,

“They have confidence in us through this process.”

Sydney Accountants’ transformation from a traditional financial management approach to a collaborative partner mirrors the broader industry trend, where technology and innovation are reshaping traditional practices. Myprosperity has emerged as a transformative tool, equipping professionals and clients with the information they need to navigate the evolving data and financial management landscape confidently and efficiently.

Results: myprosperity Changing the Game

 

One of the standout achievements has been the rapid adoption of myprosperity, with approximately 1,300 of Sydney Accountant’s clients finding the portal easy to use. This high adoption rate underscores the platform’s user-friendly design and seamless integration into daily routines.

However, the true testament to myprosperity’s capabilities lies in its data management prowess. With Sydney Accountants having 28,000 documents uploaded to the platform, it’s evident that myprosperity excels at handling substantial amounts of financial data securely and efficiently. Perhaps the most transformative aspect of myprosperity’s implementation is the efficiency it brought to the signing of financial documents. 

“It’s very helpful for the signing of the tax returns. We upload it in the private client portal. You get the signature, and away you go.”

This streamlined process drastically reduced the time previously spent on manual document handling and ensured that the process adhered to the highest security standards. 

Over 3,000 documents for Sydney Accountants were signed digitally on the platform. This achievement is a testament to the platform’s reliability and the trust clients place in it to handle their financial information securely.

myprosperity’s collaborative tool has delivered outstanding results for Sydney Accountants. The platform’s impressive adoption rates, robust and secure data management capabilities, and streamlined digital signature process have redefined how financial information is managed and exchanged.

myprosperity is a game-changer in the data and financial management landscape, empowering both professionals and clients to navigate their financial journeys with greater efficiency and security.

 

 

Aris Liacopoulos

Head of Sales (Accounting)

Aris brings over 15 years experience in the Accounting Tech industry. His previous roles as Accountant at Webb & Co, Senior Consultant @ Banklink and then Sales and Account Management Leader at MYOB have all paved the way to his role of Head of Sales (Accounting) at myprosperity. Aris is dedicated to providing the right solution to his clients to help improve efficiencies and client experience.

One Room, Multiple Solutions: The Power of a Centralised and Secure Platform

One Room, Multiple Solutions: The  Power of a Centralised and Secure Platform

In an era where data breaches and cyber-attacks are becoming increasingly common, the importance of secure, encrypted communication cannot be overstated—especially in the realm of accounting.

myprosperity is leading the way in offering a secure environment for accounting firms, with features like ‘Rooms’ that provide encrypted spaces for sharing and collaboration involving sensitive data.

Here, we delve into the critical role of centralised and secure communication in safeguarding your future.

 
Comprehensive Data Overview

 

One of the standout features of myprosperity is its ability to provide a comprehensive data overview. The platform integrates various accounts, assets, liabilities, and investments into a single dashboard, offering a holistic view of your
financial health. This consolidation is not just a convenience; it's a necessity for effective accounting management.

Being able to see all your data in one place allows for the analysis of trends and patterns, which in turn enables you to make informed decisions. A comprehensive data overview is invaluable whether you're contemplating a significant
investment or trying to understand your spending habits.

And when this data is sensitive, as financial data often is, the need for secure, encrypted communication becomes apparent. With features like Rooms, myprosperity ensures that your data is comprehensive and secure. Real-time Tracking and Monitoring
Let’s consider a scenario where you’re eyeing a time-sensitive accounting task. Real-time tracking would allow you to assess your current standing instantly, enabling you to make a quick but informed decision. In both these scenarios, a secure environment ensures that your real-time communications are secure, thereby safeguarding your integrity.

 
The Role of Data Encryption

 

Encryption adds an extra layer of security that ensures confidential data remains inaccessible to unauthorised parties. In the context of accounting, this is crucial!

Whether you’re discussing strategies with your accountant in a Room or receiving real-time updates on your transactions, encryption ensures that these communications remain secure.

Encrypted communication is a cornerstone in accounting management by providing a secure environment for all the other features to function effectively. With the assurance of security, the most comprehensive overview or the most insightful data-driven strategy would be rendered most useful.

 
Secure Collaboration with Rooms

 

This is where myprosperity’s “Rooms” feature comes into play, offering an secure space for accounting management and discussions. But how does this feature specifically enhance secure collaborations?

Let’s look at specific examples from Sydney Accountants and Grimsey Wealth (Accounting Division), two myprosperity clients with extensive experience with using Rooms and reaping the benefits of secure collaboration.

● Centralised Document Management: One of the most significant advantages of using Rooms is the centralisation of all relevant documents. Grimsey Wealth (Accounting Division), for instance, created over 2,351 rooms within the platform, uploading 46,000 documents into the system by clients. This centralisation streamlines operations and minimises the risk of data breaches by keeping all sensitive information in one secure location.

● Enhanced Data Security: Sydney Accountants were particularly concerned about the security risks posed by email-based data sharing. Rooms offer a solution to this problem by providing a private client portal for secure document sharing and signing. This method of communication aligns seamlessly with the security requirements of modern accounting planning, offering much better security than traditional email-based methods.

● Real-Time Collaboration: Both Sydney Accountants and Grimsey Wealth (Accounting Division) found value in the real-time collaboration that Rooms facilitates. Professionals can seamlessly collaborate within the same platform, delivering a holistic approach to client management. This not only enhances the services offered but also positions firms as the go-to hub for comprehensive accounting management solutions.

● Time Efficiency: Grimsey Wealth (Accounting Division) saved a minimum of 15 minutes per client per tax return, adding up to more than 45 days saved each tax season. Rooms contribute to this efficiency by providing a streamlined platform for document uploads, approvals, and real-time discussions, thereby reducing the time spent on back-and-forth communications and manual document handling.

● Client Satisfaction and Trust: The secure environment provided by Rooms contributes to elevated client satisfaction and trust. Clients of Sydney Accountants, for example, found the portal easy to use, enhancing their overall experience and contributing to the platform's high adoption rate. This level of reliability fosters stronger client relationships, significantly contributing to the platform’s remarkable success.

 
Conclusion

 

Accounting is already a complex process that involves the management and analysis of sensitive data. Therefore, secure communication in accounting management is, therefore, not just a nice to have but a necessity.

Just ask Sydney Accountants and Grimsey Wealth (Accounting Division ) —they’ve experienced firsthand the transformative impact of this feature on their operations and client relationships.

By offering a secure, encrypted environment for accounting management, myprosperity is not just helping users make better data-driven decisions but also ensuring that data is shared with ease, are securely made, saving time and effort.

Read the Blogs   Sydney Accountants – The Revolution of Accountancy  &  Grimsey Wealth- A Journey with myprosperity

Don’t miss out on the future of secure, real-time collaboration. Book your demo now with myprosperity and experience the difference.

 

 

Aris Liacopoulos

Head of Sales (Accounting)

 

 

 

Aris brings over 15 years experience in the Accounting Tech industry. His previous roles as Accountant at Webb & Co, Senior Consultant @ Banklink and then Sales and Account Management Leader at MYOB have all paved the way to his role of Head of Sales (Accounting) at myprosperity. Aris is dedicated to providing the right solution to his clients to help improve efficiencies and client experience.

Building accounting firm prosperity: Attaining growth through better monitoring and collaborating.

In the world of accounting, growth is a strategic imperative that drives firms to new heights of success. As an established firm with several partners, you’re well placed to take that next step to a $1m+ turnover. But how?

The road to prosperity is paved to harness new clever technology. That is technology that reveals clear goals, helps with effective tracking, and can guide on the smart use of resources. 

Enter myprosperity—that kind of clever software that isn’t just about streamlining operations, but also about helping accounting firms achieve their long-term growth aspirations.

Let’s dive into the realm of tracking clients’ tasks /jobs / documents shared and explore how myprosperity plays a pivotal role in scaling up your accounting firm.

Defining and Monitoring Financial Goals: The North Star of Growth

Setting a clear course for your accounting firm’s growth begins with defining and monitoring financial goals. 

Imagine a firm with the goal of increasing its client base by 20% within the next year. With myprosperity, this goal becomes more than just an aspiration—it becomes a tangible target. 

It does so in three ways.

  • Identifying trends and areas for improvement – Customer surveys are customer reports that help pick up on where improvements can be made and areas for the clients’ information which your firm can better support.
  • Enabling partnerships and team growth – With features that welcome others into the fold of the clients’ data, your firm will not only offer a better service to your client but enable a referral network of other specialists serving similar clients.
  • Improve service efficiency – With features that make it quicker to get the jobs done and improve the way staff interact with your clients, the client will be happier than ever to refer you on and grow with you.
  • Identify areas to grow your business with existing clients – reports capture patterns in client finances that help you see what services your clients need so you can grow the amount each client invests with your firm.

So what one do you do first? 

Consider refining this into short-term and long-term goals.

Short-Term and Long-Term Financial Goals: A Balanced Approach

A successful accounting firm’s growth journey isn’t limited to immediate gains. Both short-term wins and long-term visions contribute to lasting prosperity. 

myprosperity empowers users to strike this balance by offering a mix of features that enable insights that drive short-term performance improvement. Features also drive consistent improvements in service and ways of identifying opportunity to grow the amount of investment from each client. 

Short-Term Insights: Rapid Progress through Client Surveys

Swift insights are paramount. Identifying trends and areas for immediate improvement can set the foundation for your accounting firm’s success. 

myprosperity understands this crucial need and provides tools that empower you to swiftly uncover opportunities for enhancement.

  • Customer Surveys/Digital questionaires – myprosperity integrates customer surveys into the client correspondence workflow, enabling you to gather valuable feedback directly from clients. These surveys act as a window into the client experience, helping you pinpoint areas where improvements can be made. By understanding your clients’ needs, pain points, and aspirations, you can tailor your services to better support their businesses. This short-term insight not only enhances client satisfaction but also lays the groundwork for enduring partnerships.

 

Long-Term Goals: Cultivating Prosperity with myprosperity’s Strategic Features

While short-term gains are essential, building a roadmap for lasting success requires long-term vision. myprosperity equips you with an arsenal of features that not only support your growth objectives but also strengthen your firm’s foundation.

  • Enabling Partnerships and Team Growth

myprosperity doesn’t just streamline operations within your firm; with guest access features, it extends its reach to welcome others into the fold who support your clients’ data management. 

This innovative approach not only enhances the services you offer to your clients but also creates an expansive referral network of specialists serving similar clients.

Imagine an accounting firm partnering with legal experts, brokers, and financial planners. Through myprosperity’s collaborative features, these professionals can seamlessly collaborate within the same platform, delivering a holistic approach to client management. 

This not only enhances your firm’s service offerings but also positions you as the go-to hub for comprehensive financial solutions. The result? Elevated client satisfaction, organic growth, and a network of like-minded professionals propelling each other forward.

  • Improving Service Efficiency

Efficiency is the cornerstone of client satisfaction and firm growth. myprosperity doesn’t just optimise processes; it improves the way your staff interacts with clients, driving efficiency to new heights.

Through its features, myprosperity streamlines tasks and automates reminders, ensuring that deadlines are met and tasks are executed seamlessly. This heightened efficiency translates into happier clients who are more inclined to refer your services. Word-of-mouth referrals, often rooted in exceptional service experiences, contribute significantly to sustainable growth.

  • Identifying Areas for Business Expansion

Uncovering avenues for expansion within your existing client base is important for strategic growth. It’s so much easier to foster support within your existing network, than having to convince new clients to sign up for your services.

myprosperity’s reports capture patterns in client finances, providing insights into the services your clients need more of. Armed with this knowledge, you can proactively tailor your offerings to cater to their evolving needs.

Prosperity through strategic use

myprosperity is a guiding force that propels accounting firms across Australia towards prosperity. By harnessing myprosperity’s power, your accounting firm isn’t just streamlining operations—it’s building a legacy of growth, innovation, and unwavering client trust.

 

Ready to take the next step towards prosperity? 

Click here to book a demo and see firsthand how myprosperity can transform your accounting firm’s journey to success.

Aris Liacopoulos

Head of Sales (Accounting)

Aris brings over 15 years experience in the Accounting Tech industry. His previous roles as Accountant at Webb & Co, Senior Consultant @ Banklink and then Sales and Account Management Leader at MYOB have all paved the way to his role of Head of Sales (Accounting) at myprosperity. Aris is dedicated to providing the right solution to his clients to help improve efficiencies and client experience.

Clever tech for growth: How to get existing clients to spend more on your accounting firm.

Accounting firm profitability can be achieved in a few ways. The lowest-hanging fruit is often your existing client base.

How well are you servicing them? How well do you know their business? Are there opportunities for you to help them grow their business and in turn, grow yours?

These are the sorts of questions that growing accounting firm owners are asking themselves. But even if you are aware of the questions you want to ask, how do you find the answers quickly?

Here we talk more about how mypropsperity can help to get those answers quicker for your accounting firm so you can get started right away on tapping your clients’ goodwill to help them and you grow.

  1. Start with making the client happier. 

As an accounting practice owner, you’re not just a numbers wizard; you’re a guardian of your clients’ financial well-being and success. The road to client happiness is paved with personalised service, seamless experiences, and a sense of security.
myprosperity can empower you to take client satisfaction to new heights. This can not only give you and your team satisfaction in a job well done. It also sets your firm up for more productive conversations with your clients to grow their business with your help.

Some of mypropserity features include:

  • Secure Document Signing and Storage. Every tax time or major business transaction or decision needs the client to sign a form. That also includes signing and storing wills and insurance. myprosperity makes that simple and secure.
  • Assets are always valued accurately. Property assets have a big say in the P&L so our tech makes sure those figures are always correct.

 

   2. The next step is to ask them what they think and their goals.

Asking clients for their feedback on a service provides invaluable insights into their perceptions and satisfaction. Their input helps identify areas for improvement, tailor offerings to their needs, and enhance overall service quality. This feedback-driven approach fosters a stronger client-provider relationship, builds trust, and ensures that the services offered align closely with clients’ expectations.

mypropserity features include:

  • Client surveys. These are in-built into the client workflow to check in with them on how they’re enjoying the service. These can be triggered at regular intervals and once completed, are used to uncover new opportunities.
  3. Bring it home with insights that reveal new opportunities.

A happy client whose business and goals your team know well offers the strongest foundation to grow your business with their growth.

With insights into the figures and the patterns in their business, opportunities to invest in your wealth services, or outsourced CIO analysis capabilities will be revealed.

Mypropserity features that will support this include:

  • Insightful reports from P&L analysis and more that are up-to-date and accessible in real-time. You can get a view of client banks, loan and super accounts, and investment portfolios quickly. You can also get data feeds to ensure valuations of property assets are up to date.
  • Set budgets, track cash flow, and tag client data so you can stay on top of their business performance and see where improvements can be made to get through tax time with a stronger bottom line.

 

A synergistic relationship toward mutual growth

The most rewarding aspect of growing your business while simultaneously helping your clients grow is the relationship that develops. As you guide your clients towards their goals and expansion, their success becomes a testament to your expertise and dedication. This virtuous cycle of mutual growth not only deepens client loyalty but also fuels the expansion of your business through positive referrals, improved industry reputation and increased revenue.

Ready to get started? Click here to book a demo and discover how myprosperity can transform your accounting firm’s approach to client satisfaction and business growth.

 

Aris Liacopoulos

Head of Sales (Accounting)

Aris brings over 15 years experience in the Accounting Tech industry. His previous roles as Accountant at Webb & Co, Senior Consultant @ Banklink and then Sales and Account Management Leader at MYOB have all paved the way to his role of Head of Sales (Accounting) at myprosperity. Aris is dedicated to providing the right solution to his clients to help improve efficiencies and client experience.

Partnering to prosperity: How this one technology feature paves the way to a whole new approach to finding and keeping clients

The path to growth isn’t a solitary journey. It’s a strategic collaboration that leverages the expertise of diverse professionals to propel your firm to new heights of success.

While your focus might be on your clients’ numbers, the true equation for prosperity involves the strategic partnership of accounting firms with brokers, financial advisors, legal experts, and other specialists.

myprosperity, with its clever guest access features that allow other business advisors to see the full picture of a client’s financial health, enables important collaboration. It extends your firm’s reach to create a seamless platform for professionals to support your client’s financial management.

There is also an added benefit. In fact, this benefit might well be the leading benefit. By fostering a broader team perspective on the approach to client service, it can cultivate a more expansive referral network, driving organic growth.

Here we share how to enable stronger partnerships with businesses that service similar clients. This can work to build your accounting practice and improve your client’s business.

Enhancing Service for Clients through Collaborative Partnerships

At the heart of this paradigm shift lies the profound benefit of enhancing services for your clients. By collaborating with professionals who bring diverse skill sets to the table, your firm transforms into a comprehensive financial solutions hub.

  1. Comprehensive Financial Solutions – Since professionals can engage, communicate, and strategise in a holistic manner, the client gets easier access to a comprehensive suite of services. This helps the clients receive a tailored, all-encompassing financial solution that addresses their needs comprehensively.
  2. Elevated Client Satisfaction – Rather than managing disparate interactions with multiple entities, clients have a unified and cohesive approach to their financial management. That can only lead to enhanced client satisfaction in ways that foster long-term relationships and client loyalty.
  3. Organic Growth through Referrals – The synergy of collaboration doesn’t just end with enhanced services; it extends to the realm of growth. As you partner with professionals who serve similar clients, a referral network naturally emerges.When clients experience the value of this collaborative approach firsthand, they’re more inclined to refer your services to others in their network. This organic growth can expand your client base and open doors to new opportunities to increase your firm’s reach.
  1. Positioning as a Hub of Expertise – With a diverse team of professionals working in unison, your firm becomes synonymous with expertise. Clients recognise your ability to address varied financial challenges, positioning you as a go-to hub for comprehensive financial solutions. This perception can strengthen your brand identity and enhance your market positioning, setting you apart from competitors.

  2. Propelling Each Other Forward – Collaboration breeds innovation. When professionals from different domains collaborate, their collective insights spark creativity and new approaches to solving complex challenges. This collaborative environment not only benefits clients but also propels each partner forward.

The Catalyst for Collaborative Success

myprosperity isn’t just about streamlining operations but fuelling growth through partnerships. A virtual ecosystem where professionals unite to serve clients holistically paves the way for a more profitable firm and clients. 

Book in for a demo with our team today https://www.myprosperity.com.au/book-a-demo/ 

 

Aris Liacopoulos

Head of Sales (Accounting)

Aris brings over 15 years experience in the Accounting Tech industry. His previous roles as Accountant at Webb & Co, Senior Consultant @ Banklink and then Sales and Account Management Leader at MYOB have all paved the way to his role of Head of Sales (Accounting) at myprosperity. Aris is dedicated to providing the right solution to his clients to help improve efficiencies and client experience.

Discover the Game Changer for Grimsey Wealth: A Journey with myprosperity

The Game Changer for Grimsey Wealth: A minimum of  15 minutes saved per tax return, adds up to more than 45 days saved each tax season

Key Data for Grimsey Wealth

  • Time Saved: Myprosperity saved them 15 minutes per client per tax return.
  • 46.5 Days Saved: Time saved per tax season across all clients.
  • 1500+ Accounts Created: The platform now holds 1,500 accounts from Grimsey Wealth customers.
  • 46,000+ Docs Signed: Over 48,000 documents have been uploaded.
  • 2000+ Rooms Created: Grimsey have created 2351 rooms for their clients.

“The people at myprosperity are fantastic. They’ve helped us find opportunities for our business to set up our clients’ forms in ways that make it easier to talk about their accounting needs and wealth.

The Problem:

Before the implementation of the myprosperity software, Grimsey Wealth faced multiple problems, including:

  • Time-consuming tax return processes.
  • Scattered client data.
  • Data security concerns.

The Solution:

The solution to the build-up of issues Grimsey Wealth faced were solved through the following steps:

  • Transitioning to myprosperity as a central hub for streamlined operations.
  • Implementing a secure portal for document uploads and approvals.
  • Leveraging myprospertity to enhance data security whilst centralising client data.

The Results:

Through their choice to implement and consistently utilise the myprosperity software, Grimsey Wealth saw the following benefits:

  • The creation of 2,351 rooms within the platform.
  • 46,000 documents being uploaded into the system by clients.
  • Clients have gained greater control over financial information and communication.
  • Significant overall time savings in tax return preparation.
  • Enhanced professionalism and overall client satisfaction with the increased access to financial insights.
  • Improved transparency in client wealth management.

The Challenge of Inefficient Processes

For years, accountants and financial professionals struggled with cumbersome software that made collecting financial data difficult and insecure. Grimsey Wealth faced similar challenges, with inaccurate and scattered client data, leading to time-consuming processes.

This was compounded by security risks associated with old methods, prompting Grimsey Wealth to seek alternatives. The solution? myprosperity.

Montgomery Kirsz, Director of Grimsey Wealth, explains, 

“One of the main reasons we started using myprosperity was because of their digital forms; which allowed us to gather our information in a secure platform.” 

Despite having tried various platforms previously, myprosperity proved to be the long-term solution.

The Solution of Inherent Efficiency with myprosperity

The adoption of myprosperity software has had a transformative impact on Grimsey Wealth’s operations, client relationships, and overall time management. According to Kirsz, myprosperity has proven to be a game-changing solution for addressing specific challenges within the accounting and financial industry. 

In many cases, organisations grapple with the complexity of implementing new software, often sticking with outdated systems that create bottlenecks in their accounting processes. However, Kirsz commends the exceptional support provided by the myprosperity team when switching software, emphasising, 

“The people at myprosperity are fantastic.” 

One of the main reasons many organisations are implementing the software is due to their digital forms, which have improved the way clients share their financial information securely. As a result of this innovation the data collection process has become streamlined. Kirsz highlights, 

“myprosperity helped us customise the forms in a simple process.” 

The wealth summary feature within myprosperity has also played a pivotal role in empowering Grimsey Wealth to assist clients in setting and achieving their financial goals. Kirsz points out,

“They enable us to see the client’s position, which provides a brief yet comprehensive picture of a client’s circumstances.” 

For an organisation entrusted with clients’ financial information, data security is paramount. myprosperity’s role in enhancing data security by shifting away from email-based communication aligns seamlessly with many clients’ preferred methods. Kirsz affirms this, stating, 

“This offers much better security that gets away from emails. This is our preferred method.”

Moreover, the convenience offered by myprosperity extends to the client onboarding process, simplifying and expediting it. Kirsz emphasises that one of the initial steps involves sending clients a link to the portal, enabling them to upload documents and follow a digital checklist. He notes, 

“When clients come on board, my prosperity is part of the discussions. It’s always brought up from the efficiency and security point of view. It’s definitely a selling point, without a doubt.

The transformative impact of myprosperity has been both immediate and profound, as Kirsz’s insights reveal. The platform has empowered Grimsey Wealth to operate with greater efficiency while providing a higher level of service. 

myprosperity Changing the Game and Delivering Results

The adoption of myprosperity by Grimsey Wealth has yielded impressive outcomes, particularly in the enthusiastic embrace of the software by their clients. 

Over 1,500 accounts have been activated, highlighting the platform’s user-friendly design and its seamless integration into clients’ financial routines. This high level of adoption is a testament to the platform’s appeal and its capacity to enhance the overall client experience.

Additionally, the platform has recorded the secure signing and storage of more than 46,000 documents, which has streamlined data management considerably. 

Grimsey Wealth has fully harnessed myprosperity’s versatility, creating 2,351 rooms that have enhanced organisation and facilitated the efficient sharing of information. Kirsz points out the tremendous efficiency gains this has generated, noting that, 

“The team operates much more efficiently, resulting in significant internal time savings.” 

The biggest benefit has been to streamline and simplify the tax return process, with significant time savings. Kirsz quantifies this benefit, affirming, 

“At the very least, there’s a 15-minute saving on a tax return per client, and this quickly adds up for hundreds of clients.”

These gains, combined with the enhanced document signing experience, have led to a substantial reduction in the time previously spent on manual document standards. With over 3,000 documents digitally signed, it is evident that clients place their trust in myprosperity to safeguard their financial information and expedite essential processes. This level of reliability has fostered stronger client relationships, significantly contributing to the platform’s remarkable success. Kirsz further elaborates, noting that clients,

“Our clients have confidence in us throughout the document signing process.”

In essence, myprosperity has not only transformed how Grimsey Wealth interacts with its clients but has also redefined the efficiency and security of its financial management processes. 

The platform’s impressive adoption rates, robust and secure data management capabilities, and streamlined digital signature process have gone a long way to improve client and team engagement. 

Aris Liacopoulos

Head of Sales (Accounting)

Aris brings over 15 years experience in the Accounting Tech industry. His previous roles as Accountant at Webb & Co, Senior Consultant @ Banklink and then Sales and Account Management Leader at MYOB have all paved the way to his role of Head of Sales (Accounting) at myprosperity. Aris is dedicated to providing the right solution to his clients to help improve efficiencies and client experience.