Suc­cess Sto­ries

Financial Planning - - Tech Survey 2019 -

In this highly frag­mented ecosys­tem, ad­vi­sors are try­ing a wide range of tools based on dif­fer­ing styles, strate­gies and fo­cuses. Here’s what they say works best:

• Morn­ingstar‘s tool that com­pares vari­able an­nu­ities has to­tally re­vamped our abil­ity to cre­ate an hon­est dis­clo­sure form.

• Re­bal­anc­ing soft­ware re­duced time to re­bal­ance by 95% and al­lows more fre­quent and more ac­cu­rate re­view of port­fo­lios.

• We have had a lot of suc­cess us­ing emoney to model var­i­ous sce­nar­ios for clients on re­tire­ment and/or es­tate plan­ning. Be­ing able to show them graph­i­cally how things would look if “some­thing hap­pened” is very pow­er­ful. The five-year cash-flow re­ports are an ex­cel­lent tool as well.

• Ray­mond James’ “Vault” fea­ture of­fers amaz­ing file shar­ing, par­tic­u­larly for clients who are re­tired and trav­el­ing abroad. They can have ac­cess to all of their im­por­tant doc­u­ments from any­where that has in­ter­net.

• We have started do­ing more video con­fer­ence-type meet­ings with busy clients, which has al­lowed us more time and less travel, while help­ing busy clients who can’t make it to the of­fice or those who live too far away. It al­lows us to bet­ter meet their needs!

• The abil­ity to work re­motely and not be­ing tied to a phys­i­cal of­fice has been amaz­ing. Noth­ing is stored on our servers any­more.

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