No professional operates in a vacuum. There are industry trends, individual client needs and varied technologies drawing time away from their main focus: giving clients the best advice they can. The goal of an effective advisor support system is to make advisors more efficient, giving them the freedom to offer the high-level financial assistance that they are trained to provide.
These five support factors allow financial advisors to do what they do best, unencumbered by the basic blocking and tackling limits professional housekeeping has on their work.
1. State-Of-The-Art Analytical Tools
Technology has come to play a critical role for today’s financial advisors. Financial advisors need software that assists their calculations and projections in as many aspects of their business as possible.
They should have access to:
• Historical data about the performance of investments, including detailed comparisons between multiple investments.
• Data visualization tools that make complex financial data more digestible for clients in meetings and reports.
• Easily accessible equity evaluation formulas for stocks.
• Mobile applications that put financial information at their fingertips for client meetings and calls when they do not have access to a computer.
This is the new standard for financial advice. Technology is giving advisors more power to make insightful predictions while also simplifying the presentation of that data for clients. Ensuring that advisors have access to these technologies and the skills to use them is step #1 in their success.