Hi everyone, welcome to the most unique piece on Financial Advisor Tools and Technology.

We assure you that this piece will help you know the right CRM, planning, aggregation, and other important software required to take your professional advisory service to its peak.

In today’s article, we are going to look at:

Management tools & mobile apps for a Certified Financial Planner (CFP) 
Financial Advisor tools and technology to enhance the new client experience
The types of financial planning software you should consider
What secondary tools can help streamline your business

Let’s roll in the tools!

Financial Advisor Tools and Technology – Overview

The world of finance has undoubtedly changed over the past 15 years, that’s for sure.

Thanks to the advent of digital tools that have become readily available due to the rise of smartphone apps and other digital technologies.

Tools and technology help Independent Financial Advisors and those working for companies enhance the financial services they offer.

They’ve become essential for improving client relationships and providing them with the right financial advice. 

As a Financial Planner, you can use it as a marketing tool, too; consider social media, for example.

And also there are tools to help with wealth management, financial plans, retirement planning, and more.

With so much incredible technology and software available, it can be challenging to decide on tools that can work for you.

Often, an Advisor’s first search for technology is based on the field of finance they work in.

Perhaps you specialize in life insurance.

You wouldn’t use a tool or app that’s aimed at buying and selling stocks easier, right?

When it comes to Financial Advisor technology, software, and apps, start with your particular needs based on what you do.

But let’s look at some of the most popular and user-friendly tools and apps Advisors turn to.

Customer Relationship Management Software

Customer relationship management (CRM) software is perhaps the most critical tool for your business.

It provides you with the overall hub to help keep track of information.

The main pieces of information that most Advisors track using CRM software are:

  • Lead generation for new clients
  • Client information to track existing clients and their specific needs

All clients will have their essential details tracked through this software and in real-time. 

This includes personal details for each client – like their contact numbers, address, and some details of their investments.

CRM software like Redtail, for example, keeps all this information in one place, making it easy to access and readily available at your fingertips when needed.

Without a doubt, this is one of the essential tools for Financial Advisors. 

Financial Planning Software 

When it comes to Financial Advisor software, you really shouldn’t be without something that can help you with financial planning.

This is so useful in helping to show a client exactly what their financial goals are and the approach you will take to help them reach them.

And it doesn’t matter what area you specialize in, you will find financial planning tools that can help with just about anything, from retirement planning, investment, wealth management, taxation, and more. 

Two of the best financial planning tools available to Advisors are MoneyGuidePro and eMoney. 

Aggregation Software 

What is aggregation software?

Well, it plays a vital role in providing you with all the information you need about each client and puts it at your fingertips. 

Using aggregation software allows you to pull up the necessary information to help make the best financial decisions for your clients.

For example, you can see information such as the state of their financial assets, investments, health savings, life insurance, trusts, and more.

In other words, you can easily see the overall picture when it comes to their current financial situations.

And that’s invaluable. 

Risk Assessment Software 

There’s no doubt that risk assessment is a critical part of an investment.

After all, you are not dealing with your own money here.

Clients have worked hard for the money they would like to invest and turn to Financial Advisors to help them.

You have first to establish what their risk tolerance is and then to adhere to that.

And there are lots of different software and tools to help you develop an investment solution for each client that falls within their risk tolerance parameters.

One of the best tools you can use to build the right investment portfolio for your client is Riskalyze. 

Scheduling Software 

Not all software has to deal with the financial side of things.

When starting, most independent Financial Advisors are a one-person show.

And that means you have to do everything, even all the admin work.

There is no secretary to help you schedule meetings, communicate quickly with clients, or place calls on your behalf.

You’ve got to do it all.

So the easiest way to help simplify daily activities, like meetings, is by using scheduling software.

Yes, you can use Google as a schedule, but there are other options you can consider too.

The real advantage of these is that they are highly customizable for each client.

You can collate names, enter contact information, set up meetings and follow-ups, and more.

By making the administrative aspect more straightforward, as an Advisor, you can then focus on the financial side of your job.

And that’s the most critical, right?

File Sharing Software 

You will need to share information with your clients from time to time.

For example, you may have forms that they need to sign.

Instead of setting up a meeting to do so, consider using file-sharing software, like DropBox, for example.

This provides a cloud space that easily facilitates the sharing of documents.

It really can be a time saver in that regard. 

Website Builder Software 

You are going to need a website.

Ten or fifteen years ago, you might have gotten away with not having one, but not today.

That’s due to the smartphone, plain and simple.

With a smartphone, people have the internet at their fingertips, and if they are looking for a Financial Advisor, they will want to check out their website first.

Luckily, you don’t have to pay thousands and thousands of dollars to get an essential website up.

And if you can find the time, there are website builders online that you can use to make your own, like Weebly or Wix. 

Tools For Capturing Email Addresses

We’ve already talked about lead generation and ways in which you can find new clients.

And we’ve covered the need for a website, which is the perfect start in that regard.

But you can improve lead generation even more by using software that helps capture potential client details. 

There are many tools and plugins that you can use as part of your website, for example, OptInMonster.

While a Financial Advisor website will not get millions of hits, you want the details of those who do visit it.

And this is the simplest way to do that. 

Automated Email Marketing and Social Media Software

Those email addresses that you capture are pretty useless if you aren’t going to act on them.

And writing follow-up emails is time-consuming.

Luckily, this process can all be automated through an email autoresponder.

This sends a sequence of emails to potential new clients, and you only have to draw them up once as the software will do the rest. 

As an example, these emails can be sent over a week and usually include:

  • An introductory email providing them with information they wanted
  • Extra content about the services you offer
  • A more indepth look at your business
  • Other content related to the world of finance and your expertise specifically
  • A call to action, asking them to setup an appointment

That’s just an example.

You will know what information you want to share with a potential client

There are many email automation tools out there, so find the one that does the job you need and fits your budget. 

That covers emails, but what about social media.

Well, that’s another thing you don’t want to spend too much time on.

A great way to handle social media is to draw up a series of posts or tweets and then use scheduling software like Hootsuite.

Now, your social media accounts will be automated and various information posted at times you’ve scheduled.

The only thing you have to worry about is building a library of potential social media posts, so things don’t get a little stale. 


Thanks for taking the time to read through this post.

Now you should have an excellent idea of the types of Financial Advisor tools you need to consider to help you run your business.

And while there is a range of tools and apps you shouldn’t look past, like financial planning software, there are those not of a financial nature that are critical too.

Things like websites, social media, and email automation, and scheduling software can save you time.

And that’s going to benefit your clients in the long run, that’s for sure.  




Farm Bureau Financial Services

Securities Training Corporation

The Advisor Coach


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