New Tech Success Stories
We asked advisors to tell us the good and bad about their technology solutions. Here’s what they said.
The Good …
• We were able to switch to a webbased phone, fax and document management system, which saved us time and money and increased our mobility. • We went from sharing files over the cloud to a physical file server with a mobile client. We are able to keep reliable track of client files in the office, back them up to a thirdparty cloud and access the files in a secure way. It adds a layer of convenience, and also gives the appearance of constant readiness to our clients. • We recently updated our client portal to be more user friendly and robust, and we get great feedback from it. • We recently implemented a streamlined insurance platform that has been generating lots of new business due to ease of processing applications. • We purchased bond market analytic software, which enhanced our ability to manage client accounts. • We have recently upgraded one of the software packages in our system. The technology was up-to-date and easy to use. Most important, the technology helped improve our workflow and made our processes more efficient, and so increased our sales revenues. • We have recently added the capability for clients to upload documents directly online. This has cut down dramatically on the time workflows take to be finished. • We have a portal that simulates the pre-client experience of what it’d look like if they were to come on board. People really enjoy taking things for a “test drive” before committing.
… And the Not so Good
• I wish I could share a success story, but of all of the changes in the last three years, I don’t think any of them have been particularly beneficial, just more of the same. • We are using all old tech! • We are still waiting for something worth telling; so far, we’ve only maintained ourselves in line with our competition. • I do not have a success story. Technology is a necessary evil and integrating the various platforms is a major pain. A single robust solution would save us a lot of time and money. • There are no recent purchases. But a purchase is desperately needed.