Advisor Technology

November 15, 2014 - It’s no secret that technology is playing a huge part in most firms these days, but not every firm is utilizing technology the same way. What is it that leading firms are doing that others are not?

I’m glad you asked.  It is not an issue of firms outspending one another in this area, but more a matter of what type of technology they are investing in. As a new article in InvestmentNews explains:

 “An important lesson in technology spending is that the most successful firms are not outspending their peers — they are spending differently. The best firms are dedicating 33% more of their tech budgets to outsourcing and consulting than their peers. Taking advantage of tech provider services for training and installation, or adopting more cloud services to free up in-house IT administration, frees up professionals to spend more time on core advisory activities, and less time administering firm technology.”

Read the entire article: What Top Firms Do Differently With Adviser Technology

Ultimately, you want to spend more time building a remarkable client experience. In order to do this you need to free up resources. When you use more resources managing your technology investments, it can be somewhat counterproductive. What is the solution? Go back to rolodexes and birthday calls? No! Invest in an all-in-one solution that provides you all the tools and resources you need to manage client relations more effectively and build your practice. Here is a taste of what these solutions can offer:

  • Technology – Cloud based systems can help you plan, track, and manage your client relationships, so that you have more time to spend developing new ones. Providers will even implement and train you and your team.
  • Training – Let the service provider train your employees for you. There are many flexible ways that this can be done, either through live trainings, webinars, and on-demand online modules.
  • Sales and Marketing – On top of a library of material including brochures, presentations, and direct mail, services can include a compliant marketing plan that you and/or your assistant can incorporate immediately into your business process, as well as ongoing step-by-step guidance.
  • Practice Management – Supports your business, by providing help developing and implementing plans, as well as attractively positioning your practice for recruitment and ultimately practice transition.

If you are an advisor with a focus on retirement income, and you would like to find out more about how this kind of technology can help you grow your practice, please feel free to request a conversation with a 3D representative, or learn more about our WealthConductorTM program here.