10 best tools for financial advisors

The work of a financial advisor is complex and fluid, and needs to help a series of clients with unique situations and financial goals-tracking can be difficult! New applications, software, online products and services, and cloud-based systems that help financial advisors are emerging rapidly.

These 10 tools are indispensable when serving customers in the most advanced way.

Key points

  • As an independent financial advisor, having a set of tools and applications at your fingertips can simplify your business and help you better serve your customers.
  • Software and mobile-based applications (many are free) are now available to help you organize, track customers, calculate financial formulas, and find new customer leads.
  • Here, we have summarized ten such tools that every consultant should consider.

1. NestEgg Estimator

NestEgg Estimator is a Google application that is a comprehensive retirement tool that predicts the financial status of customers into the future and breaks them down into income, taxes, assets, and debt. Consultants can enter different amounts of data: the more data, the more detailed and accurate the results. The application also provides an opportunity for consultants to show various scenarios, such as changes in work, expenses, expenditures, etc.

2. Black Diamond

Advent Software’s Black Diamond is a cloud-based portfolio management platform. It provides functions for independent financial advisors including information aggregation, customizable reports, rebalancing, and daily account reconciliation.

3. Black Diamond Mobile App

The Black Diamond mobile application is an add-on to the Black Diamond management platform and is suitable for customers. It allows them to understand their account and portfolio information. The application also provides a secure messaging system, which is ideal for collaboration between consultants and clients.

4. Suites

Although many older consultants avoid newer marketing and communication models, planners who do not have strong online influence on Twitter, Facebook, and LinkedIn are at a disadvantage. In order to rule these cumbersome platforms and systematize their delivery, the social media marketing aggregator Hootsuite is the ideal choice.

This “freemium” product allows consultants to post and reply to many social media accounts from a central location. The most popular feature of Hootsuite is the opportunity to schedule social media posts in advance.

5. Paladin research and registration

This free-to-consumer website provides services for people seeking professional financial planners. Appearing in their catalog will bring credibility and exposure to consultants. The investor monitoring organization will rate consultants based on experience, education, certification, and other proprietary standards, and charge a fee. If the consultant passes the Paladin screening, he is eligible to have a place in his “five-star registration”, thereby broadening his professional image.

6. Fugent

Fugent provides a variety of software for financial service professionals. Its tablet application is a unique remote presentation tool for client meetings outside the office. The beauty of this application is that consultants can specify the content, trends and information of any uploaded document or report by writing on the document with their fingers.

7. Safe deposit box

Cloud-based backup services: These storage and transmission systems continue to improve in terms of accessibility and security. There are many options, but today’s consultant and her client need a system to access and share important information from anywhere. Dropbox is one of the more popular and reliable.

8. Precise FP

Data collection is one of the most tedious parts of financial advisory work. Precise FP outsourced this task. Customers enter their information and attach appropriate forms and files, and Precise FP aggregates the data into a consistent, user-friendly form. Attractive tables can present customer data in a variety of formats.

9. Shuo

Scheduling meetings is very time-consuming for consultants and employees, often resulting in a loss of minutes or hours. Bookeo.com is like a super secretary/concierge. From “familiar with” meetings to following up with existing customers, Bookeo is responsible for arranging appointments and collecting the name, email, address, and phone information of the other party or parties. The system is also highly customizable.

10. Google News

The consultant must keep up with his or her online reputation. Google Alerts is an ideal tool to find out “who, what, and where” mentioned by your personal and company. Set up alerts for the company name and your personal name. In this way, you will know every time you receive media mentions online. This is a great way for professionals to monitor social media marketing efforts and online status.

Bottom line

Technology is redefining the way financial advisors work today. Finding and using the latest tools is essential for establishing and maintaining relationships and maximizing productivity.


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