Then the advisor and client, side-by-side, create the plan together.
A big part of InStream’s value proposition is allowing advisors to customize whatever they want the program to proactively warn them about, be it a required minimum distribution or a local news article about the client’s favorite golf course.
In a world where your software proactively looks for increasingly detailed ways you can help your clients, your level of client service goes up while the cost of servicing your clients goes down.
What’s new about this? In the past, “Workflow” meant a coordinated list of related tasks in your CRM, which together accomplished a particular service package like scheduling and preparing for a client meeting, distributing cash out of a client portfolio or onboarding a new client after the introductory meeting.
If not, a message goes out to the client and the document is automatically uploaded into the client’s secure information vault.
Recent graduates with financial planning degrees were hired to input client data into the planning software, interact with the client to collect any missing information, and give advisors a first run of the financial plan.
Eric Sawyer, who oversees the program as Texas Tech’s director of planning, cited the example of a firm with a younger advisor who is being groomed to start taking on clients of her own.