Tools for Financial Advisors & Their Practice

Posted in Blog, Operations | Posted by Impact Partnership
Reading Time: 4 minutes

Posted on March 30, 2023

As a result of the COVID pandemic, virtual communications have become a primary mode of interface for many businesses. Serving your clients’ needs through them can be daunting. Luckily, the Impact Team is here to help. Virtual tools for financial advisors helps serve their clients, no matter their location.

When a prospect or client is unable to meet in the office because of illness, children, or an injury, a virtual advisor should not have to pass on that potential prospect. These apps and programs, which are available on mobile or desktop, will help ensure that the process is seamless for the advisor and client.

Financial Advisor Meeting Process with Clients

Meeting Process

There are two kinds of meetings you’ll need to utilize. One is for engaging with prospects, usually a large number; the other is one-on-one client meetings. For both, you’ll need the capability to display presentations, engage with your audience, share product profiles, and even sign documents.

GoToMeeting/GoToWebinar

To host many prospects at once, the American Retirement Institute (ARI) program utilizes such programs as GoToMeeting and GoToWebinar. These programs are the best for hosting an ARI class, coaching financial seminars, and other webinars with several prospects or clients. It gives you the capability to present to a larger number of prospects, but also record your stream to send or post after the live stream.

 The Impact Team created an instructional video about this program to further assist our virtual advisors. View the video below to see how easily this program can improve the reach to prospects and clients.

Zoom

Zoom is the perfect app for meeting with a client one-on-one and for the advisor’s team to join the call. This program can be used on a smartphone or desktop equipped with a webcam. Simply schedule the meeting through the app and a meeting link (including download instructions) can be sent to your client. The client can click the link, download the program, and everything is all set! Zoom also offers the ability to screenshare, which enables advisors to share documents, product profiles, and walk through the application process.

Join.Me

Join.Me is another popular meeting app, connecting users easily through either audio or video conferences. Hear from one of Impact’s own virtual advisors, Charisse, about the variety of ways Join.Me can be implemented to improve your practice. Rivers has been using virtual meetings and webinars for years and she rarely turns down a prospect or client because of the inability to meet face to face.

Join.Me, Zoom, and GoToMeeting/GoToWebinar offer similar capabilities for video conferencing. However, having access to multiple video conference apps will ensure that if one is unable to work, then there is another option. Access to all the above programs will add more resources for a virtual advisor.

Application Process as a tool for financial advisors

Application Process

Firelight (E-Apps)

Accessed through the Impact Portal, Impact advisors can utilize various e-apps. These e-apps can be viewed by clients with assistance of screenshare by the advisor (via one of the programs mentioned above) and even emailed. Upon completion, the advisor can send the application to the client for review and even sign electronically.

FedEx/UPS/USPS Account

If you are still using paper applications or the application requires a physical signature, then setting up a shipping account will be useful for mailing applications to clients. Your budget, accessibility, and needed turnaround time will determine which shipping provider will work best for you and your clients.

Scanning tool for financial advisors

Submission Process

Adobe Scan

Adobe Scan is an extremely useful mobile app for any professional, but especially a virtual advisor and their clients. The app is much more accessible than a tabletop scanner and can be used anywhere. Simply take a photo of the hard copy document and the app will convert the photo into a PDF. This PDF can be emailed to the client, advisor, or even the carrier. 

Shipping Account

Even after the application has been submitted to the carrier, they may request changes to the application, which may need client initials or additional forms. Some carriers will accept scanned copy of these initialed changes or forms. However, others may need the original document, with the original ink signature. This is when you will have to utilize your shipping account. 

There are plenty of other apps and programs which you can implement during these socially distanced times. However, finding what works for each financial advisor is up to you. These apps are a great first step in finding what works best for you, a virtual advisor, depending on the professional.

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