Start Your Year with A Technology Assessment

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Evaluating your tech stack and contract pricing must be on your agenda as your wealth management firm starts the new year. Modernizing your tech stack will ensure operational efficiencies, increased client satisfaction, and overall business growth.

Here are three reasons why:

  1. Align your tech stack with your growth strategy

Aligning your tech stack with your growth strategy is a pivotal step towards improving your clients’ experience. A technology stack that does not help you to achieve your goals is a counterweight on your business that stifles growth.

It is critical to conduct a thorough analysis of your existing processes and technologies by evaluating their efficiency and effectiveness to achieve an optimal technology stack. This assessment will pinpoint opportunities for streamlining workflows, automating tasks, and ultimately improving the overall advisor and client experience.

Start by reviewing your processes. Outline what is working well and not working well in each process from lead through annual meeting. Advisors usually feel most comfortable with discussing their sales and financial planning processes. Operations teams usually feel most comfortable with client onboarding and money movement.