Floyd: Our software experience is created to respond to the challenges that we know time-pressed financial advisors and professionals face. There’s a reason why nearly half of CRM implementations end up failing. It’s because the responsibility of using the software falls to someone who feels like they just don’t have time for it, or don’t have time to customize that software to meet their needs. That’s why we provide a success coach who has one-on-one time with every client, every month. The success coach not only helps with on-boarding and training for the system, but they’re also generally available to provide support and training on broader strategic digital marketing skills. The single most important job of the Finworx success coach is to wake up every day and figure out how their advisors can better engage, connect and improve outcomes of their clients.
Bottom line, our technology is not supplanting the advisor’s historical relationship, we’re in fact enhancing it. We’re not a robo product; we’re a bionic advisor product. We want advisors to look like superheroes to their clients.
Hortz: Any last bits of advice for advisors?
Floyd: It’s really clear that the advisor of the future will need innovative new technologies to meet regulatory requirements and enhance their client relationships over the long term. An advisor that embraces technology can become more efficient, communicate better, and ultimately provide better client outcomes. So whether that technology is Finworx or another solution, we would urge advisors to take a candid look at their business, assess where they want to be in the long run and then start examining comprehensive solutions that will get them there.
The Institute for Innovation Development is an educational and business development catalyst for growth-oriented financial advisors and financial services firms determined to lead their businesses in an operating environment of accelerating business and cultural change. We position our members with the necessary ongoing innovation resources and best practices to drive and facilitate their next-generation growth, differentiation and unique community engagement strategies. The institute was launched with the support and foresight of our founding sponsors—Pershing, Voya Financial, Ultimus Fund Solutions, Fidelity, and Charter Financial Publishing (publisher of Financial Advisor and Private Wealth magazines). For more information click here.