Technology is your friend — use it

Are you using all the technological tools available to enhance your business? Many advisors are not, and their businesses are operating at a less-than-optimal level because of it.

Here’s a refresher on how technology will make your life easier and your business better:

Embracing technology boosts business

Over the last 20 years, technology has progressed at breakneck speed. The investment industry, meanwhile, “has grudgingly been dragged along, kicking and screaming.” So says Eric Mennell, senior vice president and associate portfolio manager, Mennell Wealth Strategies Group, within Macquarie Private Wealth Inc.

Technology viewed as key to productivity

Advisors who neglect their back-office technology are leaving themselves at the mercy of the marketplace, as rivals become increasingly efficient and meet client’s needs, according to one of Canada’s prominent business minds.

Technology key to facing massive change

New trends in compliance and technology are forcing massive change in the dealer channel. But the lure of higher revenues and better profitability can give dealers the incentive to work with these trends, by using new tools to help deliver the package and still keep ahead of the regulatory and compliance curve.

Technology changes client interaction

The growing popularity of smart phones is changing the way consumers prefer to communicate with the financial services sector, according to a study from Telus and IDC Canada.

Technology, platforms and competing in today’s marketplace

Clients have become better educated about the principles of investing and the qualities they expect from their advisors, so the need to learn about new tools and processes to meet clients’ demands will only increase in the future.

Technology and the affluent client

On March 14th, 2006 Citigroup Smith Barney released the results of their Affluent Investor Poll. They checked in with the wealthiest segment of American society — those who have at least $100,000 in investable financial assets — and asked (among other things) how they felt about technology.

Technology to expose financial fraudsters

Every underground subculture uses parlance that identifies them as a sect of common interests. No one knows this better than corporate investigators and anti-fraud sleuths.