The top five pieces of software for financial advisers

By Ryan Smith on June 5, 2018

Software can make financial advisers' jobs much simpler.

If you work as a financial adviser, then technology will have influenced the way that your business operates over the years. Instead of needing to use pen, paper and hand-drawn charts, you will now no doubt rely on software instead. This becomes more important when you are with clients, as they will expect software use when receiving financial planning help.

Having the right software on your tablet or laptop can help in the following ways:

  • Makes it easier to explain products or investments to clients
  • Makes the process of giving simple financial advice easier
  • Reduces the manual work involved in generating forecasts or reports
  • Helps devise investment or retirement plans for your clients

There are many fine pieces of software that you can use. Most will allow you to create easy-to-understand reports to show to clients when you meet with them. Others give you easy ways to figure out risk and volatility ratios for any investments that you may be analysing.

The best financial software tools for financial advisers

When clients come to you for advice, they want to be sure that you are using the best tools to advise them. The below are all superb options to help you in your role:

  • MoneyGuidePro – In a 2017 survey on financial planning software by Inside Information, 42% of respondents named MoneyGuidePro as essential. Launched in 2001, it continues to be popular thanks to how it creates visually engaging reports for clients and allows you to easily input data to show different financial scenarios.
  • eMoney Advisor – This is another key piece of software. It works best when used as a tool to offer cash flow analysis when looking at a client’s finances. eMoney Advisor also offers real-time data and news updates, which means that you will always have the latest information to base your advice on.
  • Advizr – This is a great piece of software if you are new to the financial services industry. It is very easy to use and particularly good at stress-testing situations such as pension advice allowance and the like.
  • Salesforce – You should not think about merely using pure financial software. A good CRM program such as Salesforce is certainly worth considering as well. It will give you a central place to store all your client details – just remember, with new GDPR laws, to get their consent – and help grow your business.
  • Skype – Technology has really changed the ways that you meet with clients in your financial advisory role. A younger target audience particularly will expect the possibility of meeting virtually via Skype, especially if they are not close to your office.

The impact of technology on the financial services sector has been immense, so ensuring that you keep up with this change is vital. This will not only enhance your reputation but also enable you to connect with clients in a much more effective way.

We offer our financial adviser partners training, a tailored development plan and support.

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