Financial Planning and CRM Tools

An article I wrote a couple of months back on CRM systems for financial advisors was finally published on three cooperative sites, Financial Planning magazine, On Wall Street, and Bank Investment Consultant. Sometimes it can be frustrating waiting until editorial calendars align themselves and the right space appears for your content to run, but I've long since taken a zen-like approach to forces you cannot control.

The crux of the article is that financial-specific CRM systems are becoming the hottest technology trend in the advisor community. Unlike a lot of other technologies, where you make an investment, plug them in, and they work for you, CRM is a bit of the opposite. You, the advisor, have to make a commitment to work in accordance with the CRM to derive any real benefit. Too many CRM tools require you to work within the framework they define, as well as requiring strict process definitions that are hard to stick to and 100% buy-in from all participants. Choosing the right CRM tool requires choosing a good fit for the processes you are looking to make more efficient, the level of commitment you are willing to make to conform to defined processes in your practice, and the size of the team you are looking to coordinate.

While not explicity stated in the article, and this is actually a good time for an addendum, one of the clear advantages of the AdviceAmerica system, ClientVision, is that it is so flexible to the way advisors currently work because it is tightly integrated with Microsoft Outlook, and the way a majority of small office advisors already work with client contact data and communicate with them. You don't end up working in another application, and you don't have to learn another entire system on top of your deskop calendar, mail and task management system. The fact that ClientVision is also integrated with an industry-leading financial planning and portfolio management platform, AdvisorVision, makes it that much more efficient to handle all your client-facing processes within one seamless platform, without re-entering data, dealing with different U/Is and multiple vendors. This can make your compliance processes go smoother as well by keeping all the client records, communication archives, plans, documents and task lists in one consolidated application.

Comments

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