The Software That Financial Advisers Can’t Live Without

In these increasingly high tech days, it’s a rare experience to see anyone scribbling notes down with a pencil and notepad, or crunching numbers on a basic calculator.

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No, nowadays we have far more advanced systems at our fingertips with which to work out the best ways of investing our money or providing for our old age. Computers may not have taken over our lives just yet, but they have certainly made our day-to-day business far less tasking.

Financial advisers now have a whole host of helpful, specially-designed computer software they can turn to for a variety of purposes, from keeping in touch with clients’ needs to balancing portfolios.

According to Investopedia, the software not only helps advisers devise appropriate investment and retirement plans, but also helps them better engage clients. Here are some of the main ones:

Financial Planning

Financial planners need financial planning programmes – that much is obvious. The best ones will allow you to plan clients’ portfolios individually, update them easily and stay connected to clients, with the facility to easily share documents. They need to be reliable, easy to use and understand and adaptable to changing situations.

Client Portals

Client portals are vital pieces of software which allow you to store documents and information which needs to be easily accessed at certain times, or updated as necessary. A much more secure option than email, these portals are invaluable for giving clients access to their financial transactions.

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Client Relationship Management

Otherwise known as CRM, client relationship management is another vital programme, allowing you to collect and store important information from a host of sources, including meetings and notes. They can be used to collect a client’s history, so can be used to check facts if there is a dispute.

Client relationships may also benefit from the use of back office systems for financial advisers, such as those provided by

Data Aggregation

These systems collect all financial data from a client’s accounts in real time, putting them all at your fingertips. Eliminating the need for data entry, which can be problematic, they can also help improve decision-making and understanding.

Risk Management

There are various types of risk management software – some are based on questionnaires, while others can be used to simulate the effects of crises to show clients how they may be affected.

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