Technology Is Your Competitive Advantage

Your firm has invested significant effort and capital in adding innovative technology solutions. You've adopted a powerful CRM program that's accessible by anyone in the firm at any time to help stay current on client activites and goals. The firm is now 99% paperless, printing only what is absolutely essential while all electronic documents are stored in a content management system. And clients can log in to their own electronic portal to view their portfolio holdings, performance history, and important documents like wills and trusts on demand 24/7.


But how much do clients and prospects know about the technology you've implemented? If they're unaware of the firm's adoption of innovative technology, you're missing an opportunity to communicate your competitive advantage.

Veriloquent Wealth Advisors, LLC of Coral Springs, Fla. is taking advantage of its technology toolkit and communicating its merits to clients and prospects. The firm even posted a PR article outlining how the technology enhances the client experience. Click the link to view the article:

Veriloquent highlights tools like eMoney® Wealth Management System, Black Diamond Performance Reporting®, and document sharing from Egnyte®. The overall premise of the article is that clients of average wealth management firms don't receive access to their information as they might from a relationship with Veriloquent.


If you feel that your firm's technology is on par, or even superior, to that of Veriloquent, tell your clients and prospects. Consider allocating a portion of time in an initial prospect meeting to describe what the client experience is like using your firm's technology. If your firm can aggregate the prospect's captive retirement accounts, provide a secure electronic vault for important documents, and deliver on-demand access to portfolio performance information, you need to make it known.


If prospects are shopping around for new advisors, they will quickly realize the level of service, transparency, and access to information from your firm is superior to the competition. That is one method by which you can leverage your investment in technology to become the wealth management firm of choice in your market.


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