The nature of the financial advisory business drives growth-oriented professionals to use increasing amounts of technology to manage information. Advisors get plenty of advice on buying and using hardware and software from experts (including those who write for Financial Planning). But do you really know how to manage and use clients’ information, and how best to deliver updates and advice to them?
Efficient and effective information delivery is important to your business success. Unfortunately, technology comes at a price — and many advisors have trouble evaluating the real cost-benefit ratio of adding technology to their business. While upfront fees, training and time costs may seem obvious, there are also the hidden costs of managing unwieldy software and inadequate hardware or figuring out what to do next.