What is Keeping Financial Advisors Up at Night? A 2018 Outlook

Last month, I recapped our growth in 2017, which we followed with a press release detailing what topics and trends our readers were interested in throughout the year. In the release, we noted that financial advisors are the fastest growing audience on Harvest. This group now accounts for nearly 70,000 monthly active users, over 300% more than a year prior. According to our data, two trending topics that stood out to advisors on our platform were “robo” platforms and practice management. To me, this suggests that advisors have been reconciling not only with how best to manage client portfolios, but also simultaneously trying to justify their existence. One month into the new year, here is how I see these trends playing out for the remainder of 2018: Robo-Advisors Robo-advisors are projected to manage $385 billion of client assets by 2021, according to Cerulli Associates. Betterment, Personal Capital, and Wealthfront were the pioneers …

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New Industry Tools That Could Change the Way You Do Business

Times have changed for financial advisors. The advent of new technology has made it possible for independent advisors and smaller houses to compete with larger firms, and for larger firms to have a global reach. Keeping up with that technology can be a challenge — but it’s vital for any financial advisor who wants to stay competitive. Today’s clients want savvy, responsive financial advisors who are comfortable with technology. Fortunately, new industry tools are easy to use and integrate to provide top-level customer service and performance. “You don’t have a shot if you’re not organized,” says Jason Lara, director of sales and strategy at Ebix. Here are some new industry tools that can change the way you do business. Client Management Being able to manage your clients through scheduling and CRM platforms, as well as provide them excellent advice through market research tools, are among the biggest benefits of using …

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The Benefits of Integrated Technology for Financial Advisors

The evolution of technology has made it possible for independent financial advisors to compete with large houses, but no matter the size of your operation, you’ll need to keep up with technology to improve. Understanding the benefits of the technology available will help you embrace innovation whether you’re an independent broker-dealer or part of a larger house. “If you don’t adapt, you’re gone,” says Jason Lara, director of sales and strategy at Ebix. Here are some of the benefits of having centralized, integrated technology at your organization. Improved Communication Whether it’s inside the office or directly with clients, communication can improve remarkably with integrated technology. “Intra-office communication is a big piece,” Lara says. “The ability for advisors, assistants and managers to access data on the fly and communicate wherever and whenever you need keeps everyone on the same page.” Integrated technology makes it possible for everyone to stay in touch …

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