Everyone has heard of “disruptors,” and they can be a powerful force for positive change. In this massively digital age, new technologies and innovations arise almost daily, especially in the financial sector.
For Advisors seeking to transition to a more independent path, exciting new tools and sustainable fintech can help you craft a competitive edge and boost your book with vibrant new clients at the forefront of the Great Wealth Transfer.
If you’re ready to dive headfirst into your digitization journey, the expert consultants at TERRANA GROUP are here to help you explore your horizons and harness the power of technology to achieve greater autonomy, efficiency, and career satisfaction in these historic times.
Meet Clients Where They Are
Today’s digital natives seek on-demand services and instant access to service providers. Building a practice from the ground up has always been challenging, but now Advisors must also understand and embrace this epic paradigm shift.
Old-fashioned forms of onboarding and traditional client servicing methods have not only gone the way of the dinosaurs, but they can actively drive younger consumers to your competition.
A key way to evolve past the stodgy wirehouse image is to unlock your potential growth through social media. Almost everyone in this industry has a LinkedIn profile, but not every talented Advisor is savvy in the nuances of maximizing online presence to drive traffic.
Establishing an authentic brand is essential to reaching a potentially high-value audience in the Millennial and Gen Z demographics. One of the most important aspects of on-target branding is omnichannel consistency. Determine your ideal customer profile, craft your message, and deliver attractive, consistent content across all platforms.
However, many Advisors in the midst of executive growth have enough on their plate already without the additional burden of designing a winning social media strategy, recording videos, and writing blog posts.
Smart leaders know when to seek expert help. The team at TERRANA GROUP is here to serve as a vital resource for wealth management professionals in search of more freedom to focus on what matters most — delivering the best outcomes for their clients and discovering enviable success.
Enhancing Operational Efficiency
Cultivating the perfect tech stack can propel your business forward and add to your value proposition. But with so many platforms on the market already and the rise of AdviceTech offering tantalizing capabilities, how can Advisors build the most customizable and sustainable tool kit?
By committing to continuous education, those in the ever-changing financial services landscape can stay on top of the latest advancements and tailor their products to align more closely with current investor expectations.
AI-powered tools allow RIAs to automate and streamline a variety of back-office tasks, improving efficiency, freeing up bandwidth, and increasing retention rates, as well as helping ensure your practice is fully in compliance with state and federal regulations.
Customer relationship management options have come a long way since the turn of the millennia. It’s crucial to objectively evaluate an array of CRM platforms and find one that can adapt and evolve as your business flourishes.
Cloud computing platforms enable secure access to files, facilitate collaboration across remote teams, and minimize hardware costs. But with this technology comes the need for tightened cybersecurity, which is especially important for financial services startups.
The CFP Board emphasizes that “cybersecurity should be an issue of central focus for financial planners and their firms to protect clients, their data, and their assets.” Emboldened threat actors present one of the biggest obstacles to growth in this sector.
Millennial, Gen X, and Gen Z investors are much more immersed in tech culture. They’re massively online, hip to potential scams, and interested in finding safe harbors amid stormy markets. Clients in these age groups like to get in on the ground floor and be seen supporting sustainability and ESG-oriented projects. With today’s data analytics driven by machine learning, you’ll be able to stay up to the moment with trends and patterns.
Capitalizing on Industry Innovation
From artificial intelligence to blockchain, emerging technologies will heavily impact the future of the wealth management space.
Many Advisors yearning for more freedom and flexibility gain a distinct advantage in being able to selectively adopt innovations that enhance their offering versus having to rely on a parent firm’s outdated roadmap.
A proactive approach prevents obsolescence, especially with younger clients poised to benefit from the historically huge transfer of wealth from the Baby Boomer generation to their kids and grandchildren.
This new digital age brings opportunities along with the disruption of conventional wisdom, especially for adventurous souls who want to discover more professional fulfillment in an RIA or boutique turn-key breakaway model. At TERRANA GROUP, we can help you move forward faster — start the conversation today!
