A recent advisor poll finds that close to two-thirds of advisors believe technology platforms will be the most important shift in serving clients over the next decade.
To help advisors tackle this shift today and in the coming years, ThinkAdvisor is hosting a discussion with two industry veterans, Dan Skiles and Deborah Fox, on the topic “New Strategies for Leveraging Technology to Build Teams & Grow Practices.”
The webinar, sponsored by BNY Mellon | Pershing, will cover both front- and back-office systems and operations. It is set for 2 p.m. ET on Tuesday, Sept. 25. (Follow this link to register.)
Skiles, president of Shareholders Service Group and a regular ThinkAdvisor contributor, says that the it’s “a common misconception … that you need to reach certain revenue milestones before considering certain technology solutions; that might have been the case years ago, but not today with many technology solutions available at a variety of price points.”
Today, in fact, younger, smaller firms can embrace more “cutting edge” technology vs. older, larger firms “stuck” with legacy technology products purchased years ago, according to Skiles. For example, document imaging systems that once required large outlays for database servers are now managed with cloud-based servers at lower startup costs.
Fox, CEO of Fox Financial Planning Network, points out that some technology vendors offer account-aggregation tools so advisors can track client spending and receive alerts when transactions such as large account additions or withdrawals occur.
“This feature allows you to learn about your clients’ true financial behavior over time,” she explained in a recent white paper. “Your client satisfaction level can soar if you can learn how to effectively leverage this type of information.”
Both Fox and Skiles say that having the right tools can help advisors turn promising opportunities into new business, while fostering a strong internal foundation for an advisory business and building a cohesive team.
Join these two industry leaders for a complimentary webcast in which they will highlight how to leverage new technology tools that set your firm apart, boost how efficiently your team members work together and with clients; and identify the best strategies to optimize front- and back-office operations.