Our Favorite Digital Tools for Financial Advisors

Running an advisory practice is harder than most people think, but the hard work and sacrifice are worth it. Once you figure out how to earn a great income doing fulfilling work on your own terms, there’s no turning back. After all, one of the biggest perks of becoming an independent financial advisor is flexibility; you build a business around your life. On days when your to-do list is a mile long and you can’t find time for the things that matter most, you might wonder what you’re doing wrong.

It’s not you; it’s just the nature of running a business.

For over a decade, I’ve been working closely with financial advisory firms and have had a front-row seat to the challenges that come along with the growth I help them achieve. Not only that, but I’ve been running a business too, and I’ve learned that the key to efficient operations is using the right digital tools.

Here are some of my favorites that can help make running a growing financial advisory business easier.

Put Meeting and Appointment Scheduling on Autopilot

Not long ago, we relied on back-and-forth emails to pinpoint availability and nail down a meeting or appointment time. Thankfully, automated scheduling tools have taken over this time-consuming task, making it much simpler for both you and your clients.

There are a lot of schedulers on the market, but two of the most popular and convenient tools are Calendly and Acuity Scheduling.

Calendly 

Calendly is a simple tool that focuses on its core feature: scheduling meetings. It offers a user-friendly interface that streamlines the process of booking a meeting, provides customization options for a personalized experience, and integrates seamlessly with tools like Zoom and Google Calendar. If you work across multiple states, the platform's time zone flexibility minimizes confusion, automatically adjusting schedules. And you’re able to automate confirmations and reminders to enhance your client experience and improve efficiency.

Acuity

Acuity boasts robust features, beyond basic calendar-related functions. It also provides client management tools, intake forms, invoicing, and service customization. Whereas Calendly relies on integrating with third-party apps and CRM tools for greater functionality and cohesive experience, Acuity allows you to collect and track client information and appointments in a more streamlined way and without sharing client data with other tools.

Either tool will make your life easier. When choosing between them, consider Calendly for simplicity and broad integrations, while Acuity would be best if you need advanced features and desire a more comprehensive business management solution.

Manage Information Overload with a Data Dashboard

Modern business runs on data. Just like your clients need to understand their financial numbers to make informed decisions, you need to understand your business numbers. You should be able to see what’s going on with your business growth strategies without having to pour through tables of meaningless numbers. A business dashboard lets you do just that.

Cyfe by Traject is an all-in-one business dashboard that allows you to visualize and monitor real-time data relevant to your firm’s success. Immediately, you can see what’s happening with your marketing, social media, sales, support, and analytics – combining data sources to identify trends, determine ROI, and laser focus on growth.

Investing in a data tool will make your life easier by allowing you to easily identify what strategies aren’t working so you can concentrate on what is.

Keep Your Files at Your Fingertips

As you grow your business, you might be surprised how quickly your stock of digital assets grows. I am referring to files that you reuse, like logos, office photos, stock images, headshots, flyers, social media graphics, sales materials, client forms, handouts, video, audio, presentations, and more. Not long ago, these files would’ve taken up stacks of floppy disks, piles of thumb drives, or all your laptop’s hard drive space.

Now, you can store it all in the cloud.

All the major cloud storage providers offer generous free plans, but relying solely on these means you’ll end up scrambling from account to account, rather than having everything organized in one central space. Upgrading to a paid account is very affordable and worth the investment.

Google Drive is my go-to cloud storage provider, but iCloud, Microsoft OneDrive, and DropBox all have affordable plans. And if you want unlimited storage, you may want to opt for Box.com

Whether it’s the flyer you handed out at the last business luncheon or your client intake form, having easy access to these files from any device or computer will be a timesaver more often than you may realize. For example, you may mail out much of the same information about contribution limits to your clients year after year. Instead of recreating this document each year, or spending 15 minutes trying to find the thumb drive that last year’s document is on, you simply log into your Google Drive account and update it with the latest numbers.

Quick and Easy Client Connections with Video

Maintaining relationships with clients, prospects, and your team is vital to your success. But continually checking in with individuals is time-consuming, and relying on canned or automated messages comes across as cold. Sending quick videos fosters trust and makes personal connections while efficiently delivering updates or sharing insights and recommendations. You can make and send these short videos in less time than it would take you to type up the same information in an email.

In my business, I’ve found that video messaging, using simple and cost-effective technology, allows for a personalized touch at scale. And now many of our clients have incorporated this strategy successfully as well.

Loom

Loom is a popular video messaging tool that lets you create high-quality videos easily and share them with a few clicks. With Loom, you’re able to record your screen along with a “cam bubble” overlay to show your face. You can use the free option for a limited number of videos and upgrade to a low-cost plan for more videos and access to advanced features, such as HD-quality videos, password-protected videos, mouse emphasis, and a drawing tool.

Screencast-O-Matic

This Loom alternative is a screen capture tool that allows you to create and edit videos and images to communicate one-on-one or with an audience by sharing a link. The free account includes a robust set of features with time limits, a watermark, and ads on the playback page, or you can upgrade for a more advanced and personalized, branded experience.

Recording and sharing short videos means you can quickly provide business updates, market insights and news, various recommendations, or simply check in or ask for feedback. It’s a way to deliver a message while showing your face and connecting a little more personally than with an email.

Work Smarter with Digital Tools

Running a business is hard. Look for ways to make it easier. My firm is a marketing agency for financial advisors, but we do more than implement tactics. We’re always on the hunt for ways to help you grow successfully, which includes sharing methods for streamlining systems and processes and recommending tools that will save you time and trouble.