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5 Crucial Tech Tools For Financial Advisors

Finance BY Sumona
Financial Advisors

The arrival of digital technology has transformed the financial service sector and given advisors valuable resources to offer seamless client experiences.

However, innovations across the digital, mobile, and social world have reshaped client preferences, and it’s now typical to seek quickness, simplicity, and customized advice. In finance, clients expect to speak to their advisors whenever they want, meaning companies must do more to retain their loyalty.

Although the bars have been raised, the stakes are high. Today, those who take advantage of digital solutions effectively have the opportunity to build long-term, high-value relationships with clients. This comes down to using a selection of powerful tech tools for financial advisors.

5 Prime Tech Tools for Financial Advisors

Here are some of the best tech tools for financial advisors.

1. Financial planning software

It’s not easy to imagine the days of financial planning and portfolio management without technology. Fortunately, financial advisors, accountants, and registered representatives can today depend on sophisticated tools designed to help devise appropriate investment and retirement plans for clients.

Financial planning software typically offers a wide range of helpful information and capabilities, and there are plenty of options that you can use to help create plans for your clients.

The most in-demand software products include trading or rebalancing, portfolio management, risk tolerance, and retirement financial planning software. Although most companies may use several of these tools together, some are very specific to financial advisors.

Businessman doing business analysis

2. Customer relationship management (CRM) software

Once used as electronic Rolodexes to track customers and probe activities, CRM tools are now helping financial advisors create tailored communications, increase lead conversions, generate deep insights on clients and prospects, and increase profitability. If you are not leveraging CRM, you are missing out on the plethora of conveniences this tool can bring into your life and that of your clients.

CRM software offers you a single yet customizable dashboard where you can manage multiple clients. You can keep track of all their contact details, including phone numbers, emails, and mailing addresses, as well as notes from your previous contacts. You can log into your CRM and look for the last time you spoke with a particular client and what you talked about.

Corporate business handshake between partners

3. Email marketing automation software

If you are running a business, you likely don’t have time to sit down all day and write emails. That’s where an email marketing automation tool, also known as an email autoresponder, comes to help. An autoresponder is a series of emails that are sent automatically to people who have signed in for it. Similar emails are sent in the same sequence for every subscriber on your list with a single click.

You can increase the quality of your communications by scheduling reminder emails and prompting your customers for deadlines or upcoming events. Email marketing automation software can also help you reach out to leads through drip campaigns and turn them into prospects and loyal customers.

Woman hold smartphone with email of communication icons letter icon email icons and newsletter email and protects your personal information or spam mail customer service call center contact

4. Video conferencing tools

The COVID-19 pandemic has forced people to lock themselves up in their homes, further making social distancing a new norm. Today, your client will hardly drive across town to discuss their financial plan with you as they used to, so you may not expect prospects to come knocking on your office doors. At the same time, you can’t allow the pandemic to affect your business or make you lose clients.

Fortunately, you can use video conferencing solutions or tools to serve your clients during lockdowns. While the need for video conferencing technologies has long been overlooked, it has become the main means of communication, keeping people and businesses connected even during the pandemic.

To offer your clients a real-life meeting experience, choose a video conferencing tool with the best video quality. The tools should also provide screen-sharing or collaboration features. The most popular tools include Google Meet, Skype, and Zoom.

Friends or family making a videocall for catching up

5. File-sharing service

The financial advisory business involves a lot of paperwork, and you spend nearly the whole day skimming files and other sensitive pieces of information. However, what makes it more stressful is ensuring the confidentiality of the information, especially when sharing it with clients online.

A reliable and secure file-sharing service can take that hassle away, making you more confident when exchanging private files in-house or with your clients. You can set granular permissions along with extra features such as two-factor authentication to enhance the security of your files. In addition, you can use it as a data storage service to store sensitive files after ensuring that the data utilizes optimal data protection such as encryption.

Man holding phone with transfer files icon


The job of a financial advisor is complicated. Fortunately, utilizing these latest tech tools can help simplify your job’s complications and manual labor to increase efficiency and maximize productivity.


Sumona is a persona, having a colossal interest in writing blogs and other jones of calligraphies. In terms of her professional commitments, she carries out sharing sentient blogs by maintaining top-to-toe SEO aspects. Follow her contributions in Newsstoner and VoiceofAction

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