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Why do you need us?

Opportunity for success has never been greater. As the financial markets become more complicated people need the knowledge and services provided by financial advisors more than ever.  As the successful advisor grows their practice the number, scope and complexity of the relationships grows with it. Often times the very procedures and services that made them successful become much too cumbersome to maintain and the practice suffers. At this point it becomes impossible for the practice to grow because the amount of work required to maintain the current book is too much.


So how do firms continue to grow? According to a 2012 study conducted by Advisor Impact, “streamlining or standardizing routine processes” was singled out as a top contributor to increasing capacity and improving efficiency. And while the survey indicated that this category held the highest potential for firm improvement, it also indicated that advisors struggled to activate it. Eighty-four percent of firms agreed that the category is a key to increasing capacity, but only 47 percent of those same firms agreed that they’re doing it well.


By investing in CRM systems that offer workflow implementation capabilities, advisors will realize a more consistent and higher quality client experience, internal clarity regarding work efforts, increased capacity to serve new clients, reduced expenses and increased firm value. A robust, integrated CRM system provides fail-safes, checks and balances, resulting in decreased client turnover and increased referrals. Firms with defined routines embedded in their service models will also fare better with valuations, becoming more appealing acquisition targets.


As client relationships become more complex, firms need to embrace new ways of managing them. Advisors that understand the benefits CRM has to offer--and move to capitalize on it--will be poised to unlock their next chapter of growth.


The current state of CRM in the industry:


According to Charles Schwab 2012 RIA CRM survey:


  • Only 5.8% of RIA’s surveyed think they are using their firm’s CRM data to its fullest potential

  • 17.9% give their firm an “A” grade for CRM use

  • 41.6% give their firm a “B” grade for CRM use

  • 30.4% give their firm a “C” grade for CRM use

So what are advisors using their CRM systems for?


  • 97.5% are using CRM to store client contact information (very expensive rolodex)

  • 61.3% are using CRM to prepare and send client information

  • 57.8% use CRM to assign tasks to others in their firm and track completion

So what barriers are keeping advisors from effectively using CRM?


  • 42.5% believe that changing employee behavior is a barrier to effective use

  • 15.9% think employees do not see the value of CRM

  • 32.9% think that there are higher priorities for time and money than effective use of their current CRM


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