New Tech Suc­cess Sto­ries

We asked ad­vi­sors to tell us the good and bad about their tech­nol­ogy so­lu­tions. Here’s what they said.

Financial Planning - - POWER TOOLS: TECH SURVEY -

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.

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