No longer is the job of a wealth manager to pour over newspapers and spend days monitoring stock market changes. Today, especially in the wealth management industry, technology is offering efficiency and a higher level of quality of service. It is possible to call it an evolution within the industry in which a new ecosystem is blooming. If you’re still using “older” methods to accomplish the same tasks, you’re likely struggling to connect with other advisors. How can improving your own ecosystem help you and your business reach more people in a more effective manner?
An Evolving Ecosystem: Are You Incorporating Change Through Technology?
Developing your wealth management ecosystem from the ground up doesn’t have to seem impossible. The average wealth management office is seeing significant change across the board:
There’s more integration. Offering more real-time information and resources has become invaluable today.
Automation has become essential. With so many working components, it’s essential that individual systems need to work together through automated processes.
Specialization is growing. Providing a niche of services allows for a better level of service to the client.
These sound like fantastic ways to enhance client service and streamline the day-to-day business you handle. But, how can you get started? Where do you put your focus right now to begin to integrate, automate, and specialize?
Document Management Offers That Starting Point
At the heart of any integrated system is a document management system. Having a paperless office provides numerous benefits including the building blocks for an evolved way of doing business. Implementing a document management system can provide your wealth management business with better reach and functionality, even if it is a small organization. Here’s how.
#1: A Secure System to Store Digital Documents
At the heart of any document management system is its ability to improve security. Your clients’ financial documents need to be readily accessible, but they also need to be secure. Treeno Software, for example, provides the highest level of security possible for all aspects of document management. At the same time, it provides for a seemingly easy way to manage each one of the forms, contracts, and legal documents your clients must sign. Digitizing your wealth management office will incredibly streamline operations, reduce costs, and improve overall accessibility.
#2: Having an Online Backup of Client Files Always Available
Automation is important, as noted, but so is access. Imagine your client visits your office to sign documentation. You can’t find the folder on your desk. With an online backup of all client files, all of the information you need for that client – and every other one – is stored online. Again, this is very secure. However, it can allow for better integration within your team and improved customer service.
#3: Availability of Files from Any Location
You don’t have to be at your desk to access those documents, either. Because Treeno Software provides a method for connecting at any location and at any time, you can answer those hard questions over a business meeting or when on the golf course.
Treeno Software provides an electronic document management software solution that finally gives your wealth management office the means to connect, integrate systems, and communicate efficiently. It can help you with specialization and reduce costs through automation. Finally, your wealth management ecosystem is reaching your goals and empowering you to achieve much more than you thought possible.