IAM Business For Generations, page-29

Hey Ryan1,


Honestly, I personally welcome these questions you bring up because a lot of the mindless drivel that gets repeated and set as gospel needs to be questioned.

Spot on with the outsourcing of solutions.
There are many solutions already. A lot of them are tailored to different industries. A lot of them are "generalists" who will sort your data/parse a document.
Most of this stuff can get done on Freelancer for $10.
I use it all the time if I can't be bothered sourcing data.

I used to work in a Fintech company who dealt with Financial Planning businesses and there are a few reasons why I've invested my money into IAM.

I agree with you that there are similar solutions on the market that create the SOA's automatically.
However, a lot of these involve having people run the software which simply means you are adding expenses to a back office.
Your bottom line doesn't come down because typically, the back office will continue on BAU and simply begin using software that cuts their time on tasks for an added monthly cost.
IAM instead looks to replace the entire back office by outsourcing to qualified individuals in the Phillipines/Vietnam/India.
The difference is the qualifications that IAM offers.
Instead of going to a fella in some generalised labour outsourcing office to do your back office particulars, a planner has a qualified designated team working in the background to do his "dirty work".

As you said, you've implemented such solutions in your business already so you'll no doubt be aware of the goings on.
As mentioned above, the reason why I believe that IAM will be successful is because it allows the planners to continue on working as they had done previously. The overall business saves 40% of the back office costs and so the product becomes desirable through offering a business case where operations can continue as they always have with the added benefit of increasing profits of the company directly.

The second benefit is for the Financial Planning business that has their Financial Planners completing the back office work as well as the planning.
Even if you have an automated system that can give you an SOA in no time at all, you still need to gather the data and enter the data.
This apparently is the big time drain in the business.
This is why you need back office.

As you said, you've got businesses so I imagine you've got accounting teams working on getting your monthly/quarterly figures to you.
I know from experience that they're a drain on resources and are essentially just an overhead expense that is typically accepted as part of doing business.
IAM provides an automated solution for this part of the business and if you've read the announcements, you can infer that the hiring of Mr. Thornton is to improve this offering.

But on top of this, if you are a planner completing your own SOA's, you can now pass that to the Phillipines and get on with meeting with your customers and planning a client's future. All while your business runs exactly as it did and saves you 40% on your back office.

I agree with you that there may be similar products out there if you join a few things together and train some outsourcing companies to use one of these Midwinter programs or something similar.
But IAM has got the whole solution ready to go and ready to give the results straight away.
This is what a client like a bank wants. They don't want to be fiddling around with teaching their overseas outsource team how to create SOA's on their whizzbang software program.

That to me is another very enticing argument.
I believe it will only grow a Sentry sign the deal and more of their practices take on the service.

You also said that the individual practices act on their own.
No doubt they do. But if you offer the practices the incentive and encourage them to take up the services offered by IAM, then you'll likely convince more than a few.
It's in Sentry's best interest to have their practices as profitable as possible.
I would think the practices that don't take these services up will be few and far between.

Please don't let the rabble deter you from posting further.
It's nice to finally have somebody on here questioning where this company is going and how they will achieve it.
Good research.