5 Technology Tools Every Advisor Should be Using

Note: This article is courtesy of Iris.xyz

Technology is becoming a key component to any successful RIA firm. Using technology can streamline your operations work, enhance your client experience, and ultimately help you sign more prospects. But there are +100 advisor-focused technology solutions on the market! Considering which technology to invest in can be a daunting task.

This is why we here at Bridge have compiled our top-five most important technology solutions for advisors.

But before we get to our top tech-picks, it’s important to cover some tips on how to pick great technology for your firm.

Signs You Should Implement New Technology in Your Firm

Here are some signs it may be time to implement new technology in your firm:

You feel that you’re spending too much time on menial tasks like entering data, organizing files, generating reports, finding contact information, etc.
You think your time could be better spent on something else, such as prospecting or meeting with current clients.
You find it difficult to complete everything you need to get done each day.
You currently have a technology solution, but you avoid using it because it’s difficult to navigate and/or outdated.

What to Look For In a Technology Solution for Advisors

Scalability

When addressing scalability, you should ask yourself: can this product grow with my business as I take on additional clients? Ideally, you want a tech solution that works well for you now, but that will also serve an important role once you’ve grown your firm’s client base. Some questions to consider include:

Is this solution innovating at the same pace I plan to grow my business at?
Does this solution integrate with other technologies I use and/or plan to use in the future?
Does this solution provide cloud-based data storage for increased flexibility?
Is this system user-friendly enough for my current and potential future employees?
How quickly and easily can I get this new system up-and-running?