Embracing Technology to Enhance Your Client’s Experience and Grow Your Business

Change can be hard for advisors and their firms, but have you considered the consequences of not changing your ideas or upgrading your systems when it comes to technology?  Regardless of the ‘type’ or age of clients you work with, they ARE using technology daily.  Banking, email, bill pay, work communications, account access, and almost half of their entertainment and media access comes through technology via the internet. 

The investing public wants to take the complexity out of managing their money, make each transaction more transparent, and access information any time they want to.  If you aren’t providing access your clients may not stay; the ‘gate-keeper’ philosophy is long dead.  https://www.forbes.com/sites/deeppatel/2017/05/08/show-me-the-money-millennials-turn-to-apps-for-financial-clarity/#46a278a3ec16

Where does that leave you if your ‘technology’ isn’t up to date or is frustrating for your clients to use?  It leaves you behind the competition.  It positions you as outdated or incapable of changing to meet your client’s needs.  Consider evaluating these forms of technology your clients use:

Account Access:  If accessing their account is complicated due to slow loading systems or a website that doesn’t format to all mobile devices, clients have to phone in to access information that should be available to them anytime.  Real-time information for clients has been open for years making it more transparent for them and less time demanding for you as an advisor. 

Client Portfolio Presentations:  Do your clients have access to presentations done electronically through the web?  Are you able to send documents to them electronically while presenting remotely?  Today’s lifestyles are requiring advisors to meet and present information to clients that have moved, travel, or can’t make it to your office for reviews and meetings. 

Client Documents:  Clouding, CRM systems, and internal firm programs should allow clients to access real-time statements and information regarding their accounts.  Documents for account set up should be easily accessible and not always in ‘paper copy’ but on tablets for advisors to use efficiently and accurately with clients.  Advisors should use updated document systems and transition to new technology to spend more time with clients and less time on paperwork.  Client statements should always be available for electronic delivery.

Use Technology to grow your business:

Client Newsletters:  Clients shouldn’t have to ‘link’ to anything to read your newsletter.  Is that newsletter a PDF file that doesn’t allow them to access any additional information?  Does it come directly from you or is it ending up in a spam folder due to security settings on their computer?  Is it dynamic meaning it is like an actual website or is it mailed and possibly ending up in the trash along with the ‘junk mail’? http://www.freshmerge.com/fresh-finance

Your Website:  Does your website format to all devices regardless of who made them?  IPads, mobile phones, and all tablet and computer screen sizes should accommodate your website information and format automatically when accessed.  If your website doesn’t do this, it is outdated even from the search engine perspective and makes potential client searches of your website impossible. 

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