10 Ways Mobile Technology is Transforming Financial Planning

by Doreen Griffith, EVP, CIO, Securities America (Published in Financial Planning in July 2012) 


The evolution of the internet has proven that content is in no short supply. With the advent of smart mobile devices, advisors can access that content from any location where a signal is available, without actually downloading the content and storing it on the device – a huge security risk. 

This readily available mobile access is having a huge impact on the financial planning industry in the following ways: 

#1  Cloud Storage
Secure cloud storage offers access to documents and reports that you run, save and retrieve from your mobile device. You can share these reports with your clients during meetings, and should your device be lost or stolen, you can rest easy knowing that you have not compromised your client’s sensitive information.

#2  Make Adjustments on the Fly
While meeting with clients, you can do scenario planning on the spot. Mobile technology enables you to adjust their goals, spending priorities, assets or other information online from your mobile device and show them the results in real time.

#3  Review Literature and Plans Together
When meeting with clients, you can easily open their statements, confirmations, scanned images of documents or financial plans using your mobile device and answer their questions without ever needing to print hard copies.

#4  Take Notes
Before, during or after meetings with clients, you can take extensive notes for storage/retrieval from your mobile device to your contact management solution.

#5  Take Pictures
If you have email encryption or can easily upload to a secured location, your mobile device could be used to take pictures of clients, assets, important documents or notes for use later when completing plans.

 #6  Conduct Business
If you have full mobile access to your advisor workstation, it’s easy to use your tablet or smartphone to place trades, review business, research investments, resolve problems and manage or delegate tasks to your staff.

#7  Talk “Face to Face”
For clients with Face Time or other video conferencing applications, you can conduct a video chat to help fully understand your client’s opinion and feelings by viewing their body language and facial expressions.

 #8  Be Prepared for “Small Talk”
If you utilize your CRM to keep track of your clients’ and prospects’ hobbies or interests, you can use news and other apps to search for recent news or activity in these areas to show your client that you remember and care about their interests. Because you can always have your tablet and reader with you, you have access anytime, anywhere to books and industry publications.

#9  Enhance Your Image
The use of tablets and smart phones illustrates to your clients that you are forward thinking and can embrace new ideas and technology. In a time where trillions of dollars are expected to change hands from baby boomers to their offspring, it’s important for your clients, especially the beneficiaries of your clients, to know that you’re ready to tackle change head on.

#10  Retain Clients
Although you don’t want to be the “always available advisor,” you can provide excellent service and offer quick responses with the ability to scan secure emails evenings, weekends or during vacation in order to manage real or perceived client emergencies.

For more information on cutting-edge technology services from Securities America, please contact our Branch Office Development team today at 800.989.8441.

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