Building Great Customer Relationships Using Financial Planning Automation

Building Great Customer Relationships Using Financial Planning Automation

Finances are one of the most important things in a person’s life. It’s fair to say that most people could benefit from some financial advice at some point in their lives, whether they’ve just come into a big lump sum as a result of an inheritance or lottery win, or have a decent amount of savings, but no idea how to spend it.

As a financial planner, your job is to help guide your customers through what could be a life-changing experience, if they manage their money properly. Financial planners can use a variety of tools to assist their customers in this endeavour. However, financial planning automation is one of the best ways to help customers plan for their financial futures.

Different Types of Financial Planning Automation 

There are a few different ways in which automation feeds into financial planning. Businesses and individuals alike can use automation tools to help them see their finances in a better light.

Customer-Relationship Management

Customer-Relationship Management, or CRM tools allow you to monitor how your customers interact with your business. It tracks monies spent, buying preferences and all relevant details. Having this information allows you to make decisions on what to spend money on as a company, to produce more of what your customers are already buying. 

Portfolio Management

Having your portfolio management as an automated process will really help streamline your workflow as a financial planner. Having all of the necessary customer information at-a-glance. This will allow you to go between different clients in a much quicker way.

Re-Balancing Solutions

One of the most important aspects of financial planning is balancing the books. This is where some companies struggle, and yet it’s an integral part of doing business. Financial planning automation processes will allow you to display to your clients where they’re falling down, and automated software will allow you to show clients different avenues they might take to re-balance their books.

Investment Analytics

Why Is Customer Relationship Management So Important?

Clients will often have a vast array of investments – automation software in this regard may help you to give your clients a better picture of their overall investment portfolio, including projections for the future. This will help clients to make better financial choices with their invested money going forward.

How Has Automation Shaped the Financial Industry?

One of the most important things that automation has done for the financial industry is expedited its processes. It has made financial planning that much faster for clients – allowing them a snapshot of their finances at-a-glance, allowing for financial planners to have greater access to more information to help give clients a fuller picture. It has also allowed the industry to grow exponentially, as technology allows for clients and planners to get connected via the internet and have meetings, no matter where they are.

Why Automation is the Way Forward for Financial Planners

Simply put, automation has allowed financial planners to deliver a higher level of service to clients by expediting almost every process and facet of the client’s financial life. Want to see how much money your client makes in a month, versus their outgoing costs? Any financial planning software will have that process done in seconds. Similarly, automation will allow for adjustments to be seen in real time against client investments as the markets go up and down.

Automation makes your life easier as a financial planner, allowing you to build a more solid customer relationships, as it cuts human error out of the equation, painting a better, more accurate picture of your clients’ financial lives.

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