Why financial planning automation is the secret to great management

Financial planning automation is a key way financial planners are streamlining their business model and delivering a better product to their customers. With automation cutting hours off end to end procedures, providing advanced reporting, accurate real time analysis and interactive financial planning for customers, automated financial planning has proven a boost to management in the industry.

With less time spent on administration and routine tasks, managers can focus on building relationships with their team and customers, increasing client satisfaction and improving the bottom line.

Keeping clients in the loop

Leaders in the financial software space, Advice Intelligence, have found that the interactive model of their WealthApp customer portal increases positive sentiment from customers toward their financial advisor. The app centralises the client’s profile and information in one place and allows them to access their financial performance in visual form from their own device whenever they want. If they wish to consult their advisor from the picture they see, the advisor has their personal information on the Customer Relationship Management platform readily available from their own device and can have that discussion at any time. From a management perspective, the seamless interactions between client and advisor contributes to healthier and more productive outcomes for both the client and the firm.

Getting clients onboard with discovery

Managing the fact finding and discovery process is easier with the visual, digital and online process financial planning automation provides. Instead of the tedium of filling out lengthy forms, clients can participate in a visual experience and input their information from the comfort of home if they choose.  Lead generation increases by 74% when web forms are used, counteracting statistics showing that 40% of potential clients are deterred and therefore lost as customers by paper form filling. Your team will have more success with reaching targets, with an interactive and engaging discovery processes that draws clients in instead of pushing them away.

Automatic, accurate and appropriate investment recommendations

As a financial manager, financial planning automation gives you peace of mind that your advisors are identifying and recommending the correct investment opportunities for their clients. Fact find data in the a.i. software extrapolates the customers input information, including their current financial snapshot and their future goals, to create interactive goal, scenario planning and live modelling for the clients. An automatically generated analysis tailored specifically to the individual customer helps them understand your advice and visualise their financial health.

With real time analysis and continually updated reporting, your teams advise on investment and superannuation products will match with the client’s profile to a minute degree.

Great management is all about ensuring your team is building and maintaining honest and trusting relationships between customer and advisor. Financial planning automation allows advisors to provide clients with an open and interactive service that increases engagement and trust. The speed and efficiency that a.i. software brings to the process allows management and advisors to spend more time on tasks that enhance productivity in the financial advisory industry.

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