The Omnipresent Advisor: How tech can help and hurt the client/advisor relationship

Imagine this: you’re an advisor, walking out of a client lunch. All of a sudden, you get a call from one of your clients who says, “I just got this packet about that fund you invested me in. Could we talk about it for a second?” You’re caught off-guard because: 1) you have no idea which document she’s talking about and 2) you’re not sure how to find out without asking her. Now, imagine this same interaction happening over e-mail, text, in-person and more. The proliferation of communications channels between advisors and their clients means that, more than ever, the advisor must become truly omnipresent, and leverage technology to help (not hurt) their client relationships.

Typically, advisors have not been able to easily track what information their investors are receiving and are left searching through files to see if they have copies of prospectuses or tracking down who received what and when. This onerous, manual process meant that advisors weren’t easily able to have informed, instant conversations with their clients, always putting them on the back foot. The rise of omnipresent digital technology, however, is changing the game and revolutionizing how advisors conduct business. Advisors need to amplify their use of intelligent technology to maintain relevance, improve communications and stay competitive in this digital era.

Tech is a two-sided coin. As consumers, investors are used to receiving information quickly and demand answers nearly instantaneously thanks to technology. They’re getting investor documents through a variety of channels but might not have a clue as to what they’re looking at. As a result, they have questions and reach out to their advisors in numerous different ways (phone, text, e-mail) and are expecting prompt responses.

This is why we created MIC Advisor — a powerful tool that streamlines communications and provides advisors with immediate visibility into all the communications their clients receive. This means they can easily track receipt of information and the method of delivery. Instead of searching for (and dusting off) a prospectus, advisors can now quickly pull up an investor communications document, explain it to their client, and provide helpful guidance and insight.

The ability to have this kind of informed, high-touch dialogue can strengthen the advisor/client relationship, which is why we utilize this approach across all of our advisor tools. Whether its corporate actions, prospectus management or proxy voting, this technology keeps advisors organized and prepared, helping to provide the best client experience.

We recently returned from a conference where we were able to take advisors through our Advisor platform and we received great feedback. One advisor told us that sourcing documents when clients call can be a nightmare and he was thrilled the tool can alleviate this pain point. Another advisor lamented that they’d wished they’d known about it sooner.

It’s feedback like this that continues to propel our relentless focus on building better solutions for the advisor industry. We firmly believe that technology can help drive real, tangible business results for the advisors, their firms, and at the end of the day, the clients they love to serve.