Improving your firm's client experience

April 20, 2017 by Shawn Preisler

An advisor uses engaging reports with a client.

About the author

Shawn Preisler

Regional sales director

Shawn has more than 15 years of experience in the financial services industry and has held leadership positions in both the broker dealer and RIA space. Shawn leverages his vast industry experience to help investment firms implement financial planning technology solutions which allow their clients achieve financial success.

Advisors are experiencing increased competition from online firms, low cost index funds, robo-advisors, and more. Subsequently, advisors need to do more to stand out from the crowd and find ways to truly differentiate their practice from the competition by offering an enhanced client experience.

Advicent works with advisors and firms every day to help them understand ways to bring an updated client experience to the market. As advisors are thinking about updating their client experience, they should consider the ways that technology can be leveraged to differentiate their practice and create efficiencies in the process. Here are a few things that advisors can do to refine and improve their client experience.

Advicent whitepapers

As a starting point, take a look at the whitepapers that Advicent publishes. These documents are a great way to leverage the decades of experience that Advicent has in helping advisors grow their practice. Before you begin updating your client experience, be sure to download our whitepaper about the importance of client journey mapping. This document will help you think about the new client experience that you are looking to offer.

Collaborative planning

Whether you meet with your clients in-person or virtually, being able to gather goals and other data in a more engaging way than using a yellow notepad can boost the client experience. With a feature we call Presentation Module in NaviPlan, it takes planning to a whole new level. When working with clients in Presentation Module, you are able to update inputs in real-time and can instantly show your clients how the changes affect their goals.

Engaging reports

If you are creating financial plans, but feel that the output and reports are lacking the excitement that you are looking to provide – consider looking at the next gen reports that are offered in NaviPlan. These modular reports have a professional look and feel, and the colors make them easy for clients to read and understand. Think about how the reports that you generate for your clients as part of the planning process can define they overall feeling of the experience.

Client portal

As clients look to bring their financial lives online, one thing that advisors can offer is an augmented online experience that goes beyond looking at account balances. Take your planning relationships a step forward and allow your clients to view their financial plan online by using the Narrator Clients portal. With account aggregation and online financial plan, this is a great way to help your clients stay on top of their net worth and financial goals. This tool also allows advisors to easily increase their own efficiency by leveraging the collaborative fact finder which aids in data gathering and seamlessly imports that data into the financial planning software. 

With some simple planning and implementation of financial planning software, you’ll be ahead of the competition and have one of the best client experiences in the industry.

Contact Advicent to learn more about what we can do to help you improve and grow your practice.