Manoeuvring Technology To Your Advantage: Here’s How Technology Can Benefit You As A Financial Advisor - Pocket Risk


Helping Financial Advisors Know Their Clients – Risk Profiling, Client Psychology, Behavioral Finance, Compliance

Manoeuvring Technology To Your Advantage: Here’s How Technology Can Benefit You As A Financial Advisor

Technology Can Benefit You As A Financial Advisor

It’s impressive how technology is changing the dynamics of the financial industry. Like every other business, financial advisors and agencies would want to perform better and earn more profits.

Technology can help them achieve the desired goal. Not only can they earn better-paying clients, but they can also retain previous clients. After all, if you provide exceptional work, who would want to go to risk their profits and go to other advisors who may or may not match your level of excellence.

If you are a financial advisor or agency, then you should start using technology to your advantage. With advanced risk profiling technologies and efficient software, you can boom your business and earn happy clients. Here are 4 ways how technology can benefit your financial advisory ventures:

It Is Efficient

The boon that the right financial planning software will bring to you is unfathomable. When you are dealing with clients, you are dealing with different minds. Clients will come up with investment options and possibilities, and you’ll have to explain to them why they are correct or why you have better ideas.

With the right software to assist, you’ll have greater control over the data and charts. Within seconds you can input different figures and show your clients what’s a profitable possibility and what isn’t.

Such efficiency isn’t possible when you deal with things manually.

You Can Comply With The Regulations Easily

Regulations around financial advisors are tightening with the passage of time. Previously, your task was only to provide actionable investment advice to your clients. Now you’ll have to keep track of the data that led you to derivate the advice.

In short, your actions should be easily audible. With the right software to assist you, the information is always available to prove the merit of your advice.

This makes compliance with the regulations easy and effective.

Things Become Automated

There are several tools that financial agencies and advisors use to understand their clients better. One such tool is the investment risk tolerance questionnaire. This questionnaire helps you devise customized investment strategies for your clients.

Manually filling the form and gathering data can become an arduous task. Especially if you are a large agency that deals with a large number of clients. The process of manually entering the data becomes a cumbersome process.

Not to mention, the chances of making mistakes are higher with the manual entry. With the right tool of assistance, you can gather the data and have it arranged in the right manner that’ll handle the logistics aspect so you can focus on formulating the right strategy for your clients.

Plus, with automated data, you can change around things, and the software will adjust figures accordingly. Thus you can show different possibilities to your clients with just a few clicks.

Higher Profits

When you work efficiently, there’s an obvious boost in the profits. This is achieved in two aspects. Firstly, you deal with the existing clients better. Secondly, your efficiency frees up the time to take on more clients at the same time as before.

This will push your revenues and profits numbers up definitely. Surveys have shown that financial agencies that adopt new technologies see an immediate boost of 8-10% in the profits. So if you see, procuring the right financial planning software for advisors is actually an investment and shouldn’t be mistaken for an expense.

Final Thoughts

Technology is becoming prevalent in all spheres of life. It has massively influenced the financial sector, yet it’s early. Those who’ll adapt to the new methods with definitely reap better profits compared to their competitors.

If you need help with risk profiling software or investor profile questionnaire, then you are welcome to contact PocketRisk. We’ll come up with the best technological solutions for your agencies so that you can handle your clients better and get more efficient with your operations!