6 Vital Tech and Software for Financial Advisors

business software

Just how much would you invest in a technology which will save you time and frustration each day? What about technologies which may add one new customer per month? How about one that will prevent you from losing one customer each year?

Purchasing technology is vital for the success of professionals including business coaches and financial advisors, both in productivity and customer support. But which technologies are worth the investment? Here is my best technology for financial advisors that will increase worker productivity.

1. Secure Password Storage

Do you waste precious time looking for passwords or login advice on a daily basis? If you are not yet using a secure password storage applications, I urge you to embrace technology such as LastPass to save your passwords now automatically.

2. A Fantastic CRM

You want a fantastic CRM (client relationship management) system to maintain monitor of customers and prospects. CRM save time and assist you to close more prospects. Financial advisors often juggle multiple clients and prospects at once. Therefore a well functioning CRM will help with organisation and gaining more business.

3. Financial Planning Software

Offering financial planning applications is critical for customer retention and will save you time since customers can better access and manage their accounts. These tools assist you to provide more than investment direction and concentrate on comprehensive financial planning, by enabling customers access to:

  • Budgeting tools
  • Spending analysis
  • Goal-based savings programs
  • Safe file storage
  • Scenario planning and decision making tools

Tools such as eMoney and MoneyGuidePro both provide customer login to see investment status, reports and planning tools. Involving customers in the process is a valuable way to gain trust and help clients understand the process.

4. DOL Fiduciary Rule Compliance Tools

Documenting the fees billed to customers and recording investments taking place is crucial in the financial sector. Software that assists in keeping clean records and documenting that you are operating in the best interest of the customer is essential. Many businesses have established charge benchmarking software in recent weeks to assist advisers to evaluate the prices in their investments against industry averages.

Other adviser technologies businesses are offering programs to help make investment coverage statements, construct investment view lists, assist with customer monitoring reports and supply other essential fiduciary-related pursuits.

5. An Online Calendar Scheduler

Having a excellent calendar platform to schedule calls, meeting and daily tasks saves times and ensures you stay on top of day to day activities, and nothing falls through. Using a platform that allows collaboration with employees and customers is even more useful.

6. Google Analytics

Google Analytics is your complimentary, business standard solution to see the visitors to your own website. It links to a site to track not just the visitors to your website, but additionally valuable information related to those amounts, for example, visitor behaviour. Tracking your analytics will answer those questions:

  • Just how much traffic did your site get past month?
  • Which web pages obtained the maximum traffic?
  • Which of your site articles were the hottest?
  • Just how much of your visitors came from social networking?
  • Where if you invest more advertising dollars?
  • Investing in the Ideal Technology

Be cautious and demanding about the technology you use in your company and do not be reluctant to make adjustments when better choices come along. If you get stuck, then employ a technology consultant that will help you implement and master the very best software for advisers to keep ahead of the curve.