Financial advisers carry out the important task of helping people make the most of their money. They need to spend time with their clients to talk about their needs, how much they want to invest, and for how long they wish to invest the money. Therefore, any help with administration and other back office tasks through special software for financial advisers is a very useful asset.
There is a lot of paperwork involved in being a financial adviser. They need to keep records of all their clients, their investments and when these investments mature. They also need to keep in contact with their leads and the financial companies with which they conduct business.
The most productive time is spent with clients or potential customers. This is when they can help their customers invest their money wisely. It must be a satisfying feeling to help customers watch their money grow so they have savings for the future or a decent pension for when they retire, for example.
Financial advisers also need to keep abreast of new products and to keep up-to-date with the financial market.
Financial advisers need to multitask
As the Financial Conduct Agency points out, an independent adviser needs to offer a broad range of products and unbiased advice based on a fair analysis of the market.
They also need to stay informed about a wide variety of investment products such as life policies, pensions, investment trusts and mortgages.
Anything that can free financial advisers from administrative tasks so that they are able to spend even more time with clients is very welcome.
Special software aids financial advisers
Special software for financial advisers is a worthwhile investment for many people working in this area.
An automated business management system will help advisers stay on top of the administration. It can include details such as managing leads, letter writing, sourcing quotes, researching and creating portfolios for clients, task management and hours worked, managing documents online, logging fees and commissions, looking at the workflow, and providing valuations of clients’ investments.
A company offering these services, such as intelliflo can help financial advisers be more efficient and more profitable by handling many time-consuming tasks.
This gives the financial adviser more time to spend with clients and more time earning fees and commissions.
