Case Study

Ronald Pratap

Founder of
RP Wealth Management

Ronald Pratap runs a wealth management company, RP Wealth Management. His business helps clients invest, protect, and enjoy their wealth.

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Ronald comes from the big four banks so he previously worked with them. He always had an assistant or staff to work in the back office and administration on his behalf. But then it got to when more clients are coming in than they can’t handle. He wasn’t able to provide the same level of service to my clients. He was juggling bringing on new clients and servicing his current clients and it went downhill. He realised that he was doing a disservice to his clients and himself by doing it all on his own. So he reached out to Koruna Assist to streamline his back office support.

“Initially, it was like a rollercoaster of emotions. But with your help, it’s now some smoother sailing and more smiles on my face.”

Before working with Koruna Assist, Wealth Collective was understaffed. James was doing a lot of his own research calls, and implementations instead of working on lead generation, client acquisition, and other income-generating tasks. He knew he needed to find a sustainable way to scale his business and stumbled across Koruna Assist.

Focus on the High-value Tasks

Business owners need to know the difference between being productive and busy. Being busy doesn’t necessarily mean you’re being productive when you’re not making any progress. Working smarter is much more important than working harder. And as a wealth manager, Ronald gains more value for your time when he stays off administrative work and focuses on what he does best, getting in front of as many clients as he can.

“KA team helped me get back my focus on the big picture tasks and outsource the smaller tasks. At the end of the day, we all start a business for more freedom, we want to be rewarded for what we do. But at the same time, we don’t want it to sacrifice into, you know, that life balance as well. So it was getting to a stage where all my attention was just on the business where I needed to take a step back and focused on what mattered more to me.”

The KA Value

Getting started with outsourcing when your business is relatively new can be intimidating in terms of cost. Ronald took a leap of faith and reached out to Koruna Assist, and he’s glad he did. He saw the value straight away. His back office was streamlined and his tasks weren’t pilling up as much.

“You can see the value straightaway, in terms of our client coming in, you know, we know exactly who needs to contact them exactly when we should follow up exactly when what documents go where, and I don’t have to worry about it, because we’ve got processes now that have a checklist. So it’s, it’s easy to forget things yourself.”

What Can Ronald Say To Other Financial Advisory Business Owners
Out There Considering To Outsource With Koruna Assist?

“Are you spending 15 hours of your week doing administration? Are you spending another 10 hours doing follow-ups to insurance companies? If you’ve caught an insurance company or super company or a bank that you’re most of the time you’re just on hold? So, do you have that time to be on hold because I know I don’t and just looking at those tasks that you’re doing that isn’t generating money and being able to look at outsourcing whether it be paraplanning, client administration officer? If you’ve got clients in your business and you’re not able to contact them as much as you want, you’re doing a disservice to them. And what you’re going to start having is you’re gonna start having clients are going to start leaving the business. So before you get to the stage where you have clients and start becoming respond to, you want to keep them happy, so that there’s no thought of that you’re not trying to fight for a client to stay in, you’re trying to get a process there to, you know, to manage more clients coming in because your clients so happy that they’re referring others.”