How Adopting New Technology Allows Financial Advisors to be More Personable

Financial advisors are facing a major problem in the industry. We can only manage a certain number of clients, because there just isn't enough time. Our capacity is capped in order to be personable and achieve success with the clients we do have. Technology changes that, while not getting away from the human aspect that’s needed when managing money. But adopting new technology is hard.

In an industry where relationships have always been vital, there are many technology skeptics. Many who believe technology will take away from those relationships. Many who don’t see how it can increase efficiency. But what about the clients that have fallen through the cracks simply because you didn’t have time to meet with them? Remember that problem we just mentioned? Technology is changing the game.

Technology is allowing financial advisors to be more personable and giving you more time to nurture your clients and prospects.

Here are a few ways technology is allowing financial advisors to be more personable:

  1. Task reminders - Know when to contact clients and potential clients, keep notes of what you last talked about, and keep track of their goals. Automating these reminders allows you to focus on other things (and throw those sticky notes away). This ensures nothing, and no one, slips through the cracks. You’ll always be on top of the timing of your reach outs.

  2. Segment clients - Be more personable in your messaging. Instead of sending one mass email to everyone about a recent update, you’re able to send the information to a select group of clients. Group by assets, advisors, age, etc. There are so many options here and a number of ways to segment.

  3. Increase efficiency - Let technology take care of the mundane tasks you are always doing, while you focus more on the actual relationships. You’ll have more time to meet with clients. Efficiency and saved time equals profitability.

  4. Work from anywhere - No longer do you have to tell a client you’ll have to get back to the office to find that piece of paper. With everything stored in one system that you can access digitally, you’re able to quickly reach what you need and not keep your clients waiting.

  5. Understand clients better - Technology allows you to track which forms of communication are working best and which forms of communication each client prefers. (Remember that segmenting thing? That works wonders here.) This ensures clients actually receive your communication and are happy with how they are receiving it. They don’t have to worry about countless emails that they’ll never check or voicemails because they don’t love a phone call.

More than ever, clients are demanding personalized service. But it’s getting harder and harder to keep up as our time is limited. With technology, we can not only be more personable as financial advisors, but we can increase our client roster. Add value and efficiency to your business. Financial advice isn’t changing or going away, but the way we communicate is.

We have been working hard at Wela to create a product that will help with all of the above, and we would love to give you a free demo of what it has to offer you. If you’re interested, reach out to us here. We know financial advisors because we are financial advisors and we’re confident this technology is going to change the game for you.