Every industry, including the financial sector, has benefited from all sorts of technological advancements. And given that you’re a financial advisor, it’s best to embrace this change that’s greatly transformed the financial industry. Otherwise, you might end up being out of business when you lose your competitive edge against your competitors. With the right tools, you’ll be able to boost your customers’ trust in you and your services and provide clients with the personalized and frequent communication they expect from you.
But what are these tools that can help you effortlessly stay on top of your many tasks as a
financial advisor? Here’s a detailed guide that’ll provide you with the answer to that question:
1. Customer Relationship Management Tools
You’ll need to monitor all your leads, existing customers, and potential clients because that’ll help you scale your business in the long run. However, keeping an eye on everything isn’t easy,
especially if there are a lot of manual tasks that need to be done. And having too much to handle at any one point increases the chances of making a human error, such as losing track of a
particular customer’s needs.
Knowing that is enough reason you need to invest in a financial customer relationship management or financial CRM tool that can help you manage all your clients with ease. Thanks to this application, you’ll have a simpler time saving your clients’ contact information. It also provides your clients with greater transparency because the CRM software allows them to monitor their investment details, tax details, wealth management, and expenses. In addition, a perfectly working CRM can help boost your productivity as a financial advisor because it helps you:
Enhance data security
Observe proper risk management measures
Centralize your dashboard
Automate your workflow
Enable mobile access
Ensure adherence to international standard compliance standards
There’s a wide array of CRM software best suited for financial advisors, so no matter what
features you’re looking for, you’re bound to find an option that has all of them on one platform.
2. File Sharing Software
Being a financial advisor entails going through a lot of paperwork each day. This can be quite hectic, especially when you have hard copies of documents for clients who prefer digital files. In such situations, it becomes hard to guarantee the safety of sensitive information from falling into the wrong hands. But with clients who’d rather receive their documents digitally, a file-sharing
the tool would be of great help to you.
Through online file sharing, not only is the exchange of files made easier but the security of sensitive information is also strengthened. This is because file-sharing tools incorporate safety features such as two-factor authentication, bank-grade encryption, and granular permissions. In addition, they act as storage services for ultra-sensitive data and come with other useful options,
including mobile accessibility, file recovery, and user management.
3. Video Conferencing Tools
The COVID-19 pandemic has possibly transformed life for good and has made working from home the new normal. This applies to nearly all jobs, including that of financial advisors.
However, a remote setup comes with its own challenges, one of which is the fact that you can’t converse with your clients face-to-face. To solve that, you need to use video conferencing software such as Skype and Zoom to maintain constant communication with existing and potential clients alike. You can go about attending to your client’s needs without having to meet with them physically, thanks to these video conferencing tools.
When deciding which video conferencing software to get, you need to assess its appealing attributes—for instance, the collaboration and screen-sharing feature. You also should get one
that boasts excellent video quality.
4. Online Scheduling Tool
Working as a financial advisor usually involves holding meetings with prospective clients,
existing customers, staff, and other partners. There’ll also be a lot of messages exchanged with various parties, and since there are different means of communication available today, it can be a
challenge to monitor every interaction.
This is why an online scheduling tool is incredibly handy—it makes planning easier and saves you valuable time by doing away with back-and-forth messaging. You can also organize contact names, set meetings, and book follow-up appointments. The tool enables smooth coordination between you and your clients by preventing double booking. In addition, it alerts you right away
once a client books an appointment on your calendar.
Some of the best online scheduling tools you can consider to help you deliver your financial
advisory services include Booker, Square Appointments, and Doodle.
5. Email Marketing Automation Software
Also referred to as an autoresponder, this kind of application is critical when running a financial advisory company. After all, it’s with the help of this tool that you can keep sending emails to your current and prospective clients to ensure they always have you in their minds. And when the time comes that they need the expertise of a financial advisor, you’ll most likely be their go-to choice.
With email marketing automation software, you can send emails to numerous clients with a
a single click of a button. While it’s possible to do this manually, it’d be time-consuming and tedious. Luckily, you won’t have to deal with such hassle thanks to this software. You can conveniently send newsletters to your clients, too, which would help you solidify your existing relationship with them. Consequently, they’ll be loyal to you because they feel valued and appreciated when you make an effort to reach out to them on a regular basis.
The use of an email marketing automation tool also lets you communicate with potential leads and turn them into actual clients. It helps you pinpoint what your prospective clients are interested in, so you’ll be able to come up with suitable content for them.
When searching for this tool, you need to consider a couple of features to help you pick out a
practical one. Those include ease of integration with your CRM, email analytics, and A/B
You need to adopt the latest technology as a financial advisor because it’ll help boost your productivity, save you precious time, and eventually boost your profit margins. The options
mentioned in this article are some of the best ones to get, and they’ll be vital in ensuring you survive and succeed in today’s highly competitive world of business.