Clients need and expect you to be there for life’s ups and downs. Saving for a child’s college is often a high point — and one that advisors can help clients navigate with ease and foresight.
PreciseFP’s Nora Gallegos and College Funding Solutions’ Roger Lorelle recently brought this concept to life during a live demo. Here’s a look at how PreciseFP and CFS can work together to help fill in gaps in college savings while supporting client engagement.
First and foremost, PreciseFP is a leading data-gathering tool. Through a structured approach, it helps RIAs more efficiently collect client information while reducing manual data entry and human error. Put simply, with more than 30 integrations PreciseFP frees advisors up to focus on the business that matters: their clients, their relationships, and the financial strategies that win.
Aligning and integrating with a tool like CFS takes PreciseFP’s functionality to the next level when it comes to helping clients work towards this specific goal. This college-planning software helps clients identify and assess strategies for helping clients save on, not just for college costs.
These school-specific college planning, funding and cost saving strategies are customized to your client’s finances and college funding timeframe. It would take the average advisor years to gain the expertise and actionable information that CFS’s college-planning software places within reach.
Think of CFS’s software as the TurboTax® for college planning. You don’t need to be an expert to use it or extract value. Just like TurboTax® can help you reduce out-of-pocket tax payments, CFS’s software can help reduce out-of-pocket college costs for your clients with college-bound children.
PreciseFP’s integration with CFS bridges the gap between client expectations and advisor offerings regarding education planning. On a granular level, CFS provides a step-by-step approach that leverages valuable tools and resources to help advisors address clients’ college savings needs. It takes a lot of the guesswork out of the complex process of college planning.
By integrating PreciseFP with CFS, advisors can experience the following benefits:
- Increased Revenue: By incorporating college planning into their offerings, advisors can attract new markets and increase their revenue potential. For example, maybe your desired niche is parents. In this case, you can use CFS as a lead generation mechanism to attract this demographic and help them understand how and where you can provide services to them as a financial advisor.
- Enhanced Client Relationships: Providing holistic financial planning, including education planning, can deepen client relationships and foster trust. This can lead to additional referrals and long-term client retention.
- Improved Efficiency: CFS makes the college planning process less daunting, saving time and effort for both advisors and clients.
These benefits are brought to life through CFS’s functionality. Specifically, the suite of tools offers value in the form of:
- An Intuitive Platform: CFS’s simple interface helps advisors manage client data and generate reports in a few simple steps.
- Comprehensive reports: Advisors can take advantage of CFS’s robust reporting that captures and summarizes college costs, savings goals, and financial aid options.
- Marketing materials: Offers a range of marketing materials to help advisors promote their college planning services.
- Expert support: Advisors can take advantage of continuing education to maximize the benefits of CFS.
In short, integrating PreciseFP and CFS is a smart move that can help advisors add comprehensive and effective college planning services to their arsenal. The synergy between PreciseFP and CFS calls out how both platforms can grow your advisory practice. As the cost of higher education rises each year, these next-level solutions will play a pivotal role in helping advisors help clients improve their retirement savings outlook. Sign up for a free 14-day trial today and see how PreciseFP’s integration with CFS can give you a competitive edge.
