According to a study by Cerulli Associates, those that invested more heavily in technology reported a higher rate of AUM growth (16.6%) than those relying predominantly on manual workflows (12.1%).
Consolidated Planning was founded in 1981 to shake up the status quo in the financial services industry, and we haven’t stopped innovating since. We specialize in helping experienced advisors grow bigger, better, and faster through our time-tested process.
This article will share how financial advisors can leverage technology to improve efficiencies within their practice. You’ll walk away with actionable tips you can put into place today.
How Do Financial Advisors Use Technology?
Technology can improve efficiency in almost every aspect of your practice, if you let it. Technology allows you to create automation that gives you more time to spend on revenue generating activities. When utilized effectively, you can better streamline both your client acquisition and client service efforts.
Financial Advisors Use Technology To Automate Marketing
One of the most common ways financial advisors use technology is to automate their marketing efforts. Let’s dive into some of the tools Consolidated Planning advisors use to automate their marketing efforts.
Marketing Suite by FMG
Marketing Suite is a social media and email tool that FMG, an industry leader in advisor marketing, powers. This tool allows you to schedule social media posts across multiple platforms and email campaigns pulling from a robust library of proprietary and third party content.
Additionally, Marketing Suite allows you to create and schedule your own campaigns and even integrates with Canva to improve the visual aspect of your content. Conveniently, this tool also connects with your compliance department for seamless approvals.
My Name Flow
My Name Flow is an easy to use automated monthly newsletter that is sent directly from your email. One of the unique features of this tool is its ability to connect with your email and social media accounts to build email lists from your network connections rapidly.
It takes about an hour to set up the tool the first time and audit your contact lists. Once the tool has been set up, your contacts will automatically receive a monthly newsletter containing four trending financial articles.
You’ll also have access to see which contacts opened your newsletter and any articles they read so you can follow up.
Third Party Social Media Companies
Many of our successful advisors outsource their social media marketing to a third party company. These companies meet with you to understand your ideal client persona, and they work with you to create content, send connection requests, and DM prospects within your chosen niche.
It’s important to note that you should have an established target market before you contract with a third party to manage your social media. A target market is essential for social media marketing because it allows you to tailor your message to speak to the problems facing your ideal prospect. Without this, your messaging will be lost in the newsfeed.
Financial Advisors Use Technology For Practice Management
Practice management is another area that technology can do wonders for focusing on your revenue generating activities. Some tools for practice management may include:
The Living Balance Sheet
For those who haven’t used The Living Balance Sheet (LBS) before, this tool is an incredible software to help clients organize, protect, and better focus their resources towards goals.
With this software, you can create and manage financial plans for your clients, including tracking investments, managing budgets, and creating retirement projections.
This proprietary software was built on the eMoney platform to deliver our planning process to our clients in a meaningful way. Building value for you and them.
Smart Office
Additionally, many advisors use customer relationship management (CRM) software to manage client interactions, including scheduling appointments and sending automated communications.
Most of our advisors use Smart Office as their CRM at Consolidated Planning. This tool also integrates with our investment platform to document recommendations and advice.
Other Tools
Other tools that financial advisors use to manage their practice include portfolio management software, risk management software, and financial analysis tools. At Consolidated Planning, you’ll find electronic investment paperwork and insurance applications. Contributions and distributions can be automated along with rebalancing portfolios.
With the use of technology, you can improve your practice by automating repetitive tasks, increase efficiency, and provide better service to your clients.
Improve Your Practice With The Right Technology
Improving efficiency in your practice doesn’t happen overnight. But you can begin building a thriving practice by learning to automate what you can. Automating repetitive tasks not only makes more time for revenue-generating activities but also ensures you follow set processes for client engagement.
By implementing the right technology solutions for you, you can increase efficiencies and provide better service to your clients.
To learn more about how to implement these tools in your practice, reach out to our team today.
Exp. 12/2027
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Consolidated Planning, Inc. is an Agency of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Securities products and advisory services offered through Park Avenue Securities LLC (PAS), member FINRA, SIPC. OSJ: 6115 Park South Drive, Suite 200, Charlotte NC 28210, Phone # 704-5528507. PAS is a wholly owned subsidiary of Guardian. This firm is not an affiliate or subsidiary of PAS. This material is intended for general use. By providing this content Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity.
The Living Balance Sheet® (LBS) and the LBS Logo are service marks of Guardian. © Copyright 2005-2025 Guardian
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