As a financial advisor, having a suite of tech tools handy can streamline your business and help you better serve your clients.
Because advisors are at their most valuable when engaging in the specialized work of financial expertise, manual administrative labour carries a significant opportunity cost. Generating new business is also a time-intensive but necessary activity, making any time that can be freed up for it through a more efficient practice incredibly valuable as well.
A financial advisor usually has their hands full with many things. This is why it helps to have some tech tools in your tool belt! Because an advisor’s ability to serve their clients well is often determined by the quality of their tools, they can also represent a major advantage that you can get over your competitors. An easy-to-navigate client portal or robust digital data collection software can make the job much easier.
However, finding exactly what you need can be overwhelming and, unlike us, you don’t have hundreds of hours to spend searching for the best tech tools in the industry.
We’ve prepared a list of all the trending tech tools in the industry for financial advisors that will allow you to save hours daily, get more clients, and grow your practice.
Calendly is a hub for scheduling meetings professionally and efficiently, eliminating the hassle of back-and-forth emails so financial advisors can get back to work. Calendly allows its users to set schedules for all types of events and gives the ability to allocate available times, adds buffer times, blackout dates, and more. Moreover, Calendly offers a very user-friendly interface and can integrate standard tools like Outlook for organizational optimization.
Free Trial: Yes, Calendly offers their most basic plan for free.
AdvisorFlow is a digital software for all financial advisors. It simplifies data gathering for financial advisors and supports financial advisors to target their niche by creating custom client surveys and showcasing advisors’ personal brands with custom logos, bio, and instructions. AdvisorFlow makes it easy for advisors to keep the focus on building meaningful relationships with their clients by automating the client-intake process, sending, and receiving updates digitally, collecting documents online, and more.
Free Trial: Yes, AdvisorFlow allows you to try their product for free and/or request a free demo.
SideDrawer’s collaboration platform allows your clients, their family members, and their other professionals to collaborate with you in a completely secure environment. SideDrawer allows advisors to easily organize and share personal information as well as important contacts, from any device. This includes banking, investments, identity, real estate, and other critical information. SideDrawer offers guided organization, and the flexibility to provide as much or as little information as you like.
Free Trial: No information available/No.
Equisoft is a customer relationship management solution that helps financial advisors view their clients’ insurance policies, investment portfolios, contact records, and more. Equisoft includes built-in gateways to centralize advisors’ client data in one place. Having a full 360º view of a client’s policy information, as well as personal and financial data. It saves time and enhances the advisor’s ability to provide superior service whenever it is needed.
Free Trial: Yes, Equisoft offers a free trial period.
Life Design Analysis
Life Design Analysis is a cloud-based sales and productivity software for insurance carriers, distributors and advisors.
LDA is designed to increase revenue, save time and help automate compliance. It allows advisors to understand their clients’ insurance options, with a feature set that adds value at every stage of the insurance sales cycle.
Free Trial: Yes, Life Design Analysis gives a 30-day free trial.
Planworth is a platform that empowers investment advisors and firms with tools to guide a client’s wealth journey. Planworth helps advisors strengthen relationships and grow their business by creating in-depth client profiles, building detailed financial plans, and generating tax and estate planning insights tailored to each client. Insights include cost, complexity and urgency scales and relevant next steps.
Free Trial: Yes, Planworth gives you access to a 14-day trial period and/or request a free demo.
Financial Tech Tools
Financial Tech Tools helps financial advisors grow their businesses through online marketing. They provide advisors with professional financial content, websites, email newsletters and social media
At Financial Tech Tools, they know you want to be the trusted advisor. To do that, you need to have an online presence that highlights your expertise. The problem is you don’t have the time to manage your online presence, which makes you feel overwhelmed.
Financial Tech Tools believes an advisor’s time is best spent serving clients. They understand how difficult it can be to get started, which is why they have helped hundreds of advisors build their online presence, so advisors can stop losing prospects to the big banks and instead have prospects choose the advisor
Free Trial: No. You can book a meeting to learn more.
AdvisorStream is a marketing platform for financial advisors that helps engage their clients and win prospects through timely, personalized, and compliant investor communications. AdvisorStream is fully partnered with the world’s most credible and trusted publishers. An omni-channel marketing service, AdvisorStream provides financial advisors articles, commentary, videos, and infographic content through newsletters, social media, emails, websites, and client portals.
Free Trial: Yes. For a limited time, AdvisorStream allows you to try their platform for free.
Digicat 2.0 is an updated catalogue of digital tools to enhance your practice. These tools have been curated by your fellow Advocis members on the TIC. It points you to best-in-class software solutions to meet your technology needs in CRM, Financial Planning, Digital Marketing, and elsewhere.
Digicat 2.0 is a benefit of Advocis membership and can be found on your Advocis member dashboard.
Technology is redefining the way financial advisors do their jobs. Creating a digital tool belt makes it easy for advisors to streamline and grow their practice while reducing the administrative hours required. Clients will always appreciate an experience where they received the full value of the service that they paid for.
The tools mentioned in this list will certainly help you simplify tasks and save time. Moreover, they will help you turn your client relationships into a collaborative and more valuable experience.
Advocis, The Financial Advisors Association of Canada, is the largest voluntary professional membership association of financial advisors in Canada, representing more than 17,000 member-clients and 40 Chapters across the country.
AdvisorFlow is a digital software for all financial advisors. We simplify data gathering for financial advisors while enhancing the client onboarding and compliance experience.