When a prospect is ready to sign with a financial advisor, both parties are excited. But the time between their interest and opening their first account can often be lengthy and cause the excitement to wane.
Building quality financial plans faster helps advisors serve clients better. And that speed comes from integrating technology for smooth data gathering and transfer. Let’s dive into three more reasons speed matters for financial advisors:
1) Capitalize on Excitement
Partnering with a financial advisor is a big step for a new client. When they reach out to your firm or are referred by a friend, they’re likely excited to take that next step and gain control over their financial future. But life is busy, and the longer you wait to connect with them and actually open an account, the more likely they are to have conflicts and not be as available or excited to sit down with you.
One of the most common complaints clients have about their advisors is that they take too long to respond. Don’t let red tape and slow processes get in the way of a new relationship and make it seem like you aren’t excited to work with the new client. Moving quickly (without sacrificing quality) shows you care about the client and don’t want to wait to meet their needs.
2) Follow Current Market Trends
A client may be excited to work with a financial advisor because of certain market trends that are favorable to their financial goals. They could also want to get ahead of predicted market changes. But when the time between the initial call with an advisor and opening an account is weeks or months, the window to take advantage of a great situation may have closed.
Market conditions are constantly changing. That doesn’t mean advisors should encourage their clients to make rash or rushed decisions, but it is important to act quickly so you don’t miss out on great opportunities. Advisors who have the tools to create fast financial plans stay current on market trends and ensure their clients don’t miss out.
3) Use Current Data
Often, advisors will gather basic information about a prospect when they first become a lead and then use that data as the basis of their financial plan. The problem arises when that information has sat for weeks and is no longer correct. Building financial plans faster ensures advisors use the most updated data instead of making recommendations and assumptions on outdated information. Automatically syncing data between integrated systems is a great way to overcome this challenge.
Speed is clearly important, but how can advisors make fast financial plans a reality? The answer lies in digital integration.
RightCapital is the fastest-growing planning solution, allowing advisors to visualize financial projections and make strong client recommendations. However, manually gathering client data can be cumbersome and time-consuming. PreciseFP streamlines the data-gathering process with customizable forms to quickly gather client information on their schedule and automatically sync it with dozens of platforms, including RightCapital. Instead of clients having to manually complete multiple forms and back-office staff inputting each piece of data (which creates opportunities for error), integrating PreciseFP allows for smoother, faster, and more accurate fact-finding. It’s one way to start the new client relationship off on the right foot.
As the clean, organized data moves straight from PreciseFP to an advisor’s tech stack, the process moves much more quickly, allowing advisors to start financial plans without having to waste time waiting for manual data inputs.
With PreciseFP, you can easily gather client information through personalized forms and sync their data to your financial planning software, ensuring you have the most current and accurate client information. Start a free 14-day free trial to try it for yourself.
To watch the recording of our webinar, “Build Financial Plans Faster With PreciseFP and RightCapital,” click here.
