How to Improve Operational Efficiency with Practifi’s Pre-Built Workflows
Wealth management firms are amongst the most process-intensive businesses within the financial services sector. However, many firms struggle to adopt process automation because they lack an understanding of where to begin.
4 Benefits of Workflow Automation
With workflow automation, standard processes can be designed and managed within a single platform. Processes like the one mentioned above can be kicked off automatically, assigning tasks to the appropriate team members and triggering a number of other steps.
The Importance of Data Cleanliness in Your Tech Stack
It’s easy to get starry-eyed with any new technology purchase. Platforms aimed at advisory firms typically promise the world, raising your expectations — sometimes to unrealistic levels. When those solutions fail to deliver enormous results, you might think the technology’s inherently flawed or ineffective. It didn’t live up to that promise, so clearly something must be wrong with the platform, right?
6 Easy Cyber Initiatives to Add Value to Your Client Relationships
Advisors want deeper client relationships and to build a more sustainable business model. Standing out from an increasingly homogeneous advice market doesn’t have to be expensive or time-intensive, but it does mean a little lateral thinking.
5 Ways Advisors Use CRMs Wrong
You would have difficulty finding a financial advisor who doesn’t use some kind of client relationship management (CRM) system. Tools for organising and nurturing clients have been around for decades, but simply possessing a CRM system doesn’t equate to great client service.
How to Improve Data Quality with Data Best Practices
The highest performing advisory firms in the world leverage data analytics, AI and machine learning to gain insights into business performance and provide a superior client experience. By implementing and following data management best practices, these firms maximize value from their data and achieve their desired results.
CRM for Financial Advisors: How Specialized Platforms Fuel Successful Firms
on top of client updates, account management tasks and outreach opportunities, and CRM software helps them keep track of it all.
Why Advisory Firms Need Role-Based Technology
Financial advisors can learn a lot from doctors and lawyers. Not only is providing financial advice evolving into a profession as indispensable and rigorous as medicine and law, but it’s also maturing into one that requires a modern approach to technology. Both medicine and law have embraced a role-based approach to building technology stacks and it’s time for financial services to do the same.
Cybersecurity in Advice Firms: 4 Ways to Improve Your Human Firewall
Cybersecurity is hard and it’s filled with scary stories that can leave firms frozen in their tracks, unsure if they should be doing more. After all, what harm can happen by doing nothing and retaining the status quo, right? Well, for advice firms, this couldn’t be further from the truth. According to a KPMG Small Business Reputation & The Cyber Risk Report, financial services businesses are most likely to lose customers due to a cyber breach, with nearly two in five businesses (39%) surveyed seeing customers leave after a breach.
Financial Advisor Client Retention: Getting the Best Results
As a financial advisor, finding a roster of great clients is only worthwhile if you can retain them for years to come. With churn at a minimum and a steady group of clients to work with month after month, you can perform up to your full potential.