Effectively Using Financial Technology in Process Management

As an advisor, your productivity relies heavily on your process management abilities. With only 24 hours in a day, having efficient processes put into play is vital to ensuring that a) you leave the office with a shorter ‘to-do’ list than when you came in, and b) you’re not working at all hours of the night. Fortunately, with the rise of technology in the financial planning space, delegation and scaling have become easier than ever for advisors. However, in order to create the right workflow, there are a few important steps advisors need to take to effectively use financial technology in process management.

1. Define your current processes.

The first step in introducing technology into process management is fully understanding your current processes. Understanding your processes is more than just looking at a workflow chart and giving the green light. It’s knowing the ins and outs of each step, who is responsible for what, and how they all tie together to reach the desired outcome. Once you know the dynamic of your processes like the back of your hand, you’ll be able to identify inefficiencies that technology can help you solve.

2. Pinpoint your inefficiencies.

When reviewing your current processes, it’s likely you’ll find some sort of inefficiency along the way. After all, no advisor is perfect, and part of being a great advisor is recognizing where you can improve. Maybe you’re lacking effective communication during the onboarding process, or maybe your workflow for obtaining and storing vital paperwork isn’t quite where you want it to be. Whatever it may be, identifying your inefficiencies will allow you to start finding technologies to solve them.

3. Determine how and where technology can help.

Every firm is unique, and understanding how your firm operates and where you could improve allows you to define what an efficient workflow should look like and how technology can aid in reconstructing those processes. While new financial planning technology is constantly coming into the wealth management sphere, there’s one in particular that’s revolutionizing the way advisors handle process management – and that’s Benjamin.

Technology can do many things, but only if you allow it to. 

Benjamin is the world’s first digital assistant created entirely by advisors to help other advisors regain control of their time. What could you, as an advisor, do with an additional 2 hours in your day? Whether it be prospecting, working on portfolio allocations, or following up on leads, Benjamin can make that a reality by handling all of your more administrative tasks. 

Ready to see how Benjamin can help you have better process management? Reach out to us here and we’ll get you started with a free demo. 

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