The Benefits of Document Management for Financial Advisers

The Benefits of Document Management for Financial Advisers
  • 30
    Aug

The Benefits of Document Management for Financial Advisers

As a financial adviser, your portfolio gains are essential to the success of your business. At the same time, the money you make for your clients is not enough to set you apart from the competition. You also need to be the best in customer service, security, and regulation to establish yourself as the best in the industry. The good news is, all of these requirements are benefits of document management for financial advisers. Read on to learn more about content services and how it helps you reach your business goals.

Increased Security

There are many threats to the financial information in the market today. There are external risks of hacking and theft, internal risks of nefarious practices, and even the risk of accidental exposure through a poorly timed mistake. Regardless of the origin, insecure financial information can ruin your clients’ lives and your career. One of the benefits of document management for financial advisors is the security it guarantees. There are no paper records to secure, everyone who accesses any file is logged as doing so, and each user has specific permissions limiting their access. Ultimately, you and your clients gain peace of mind that allows you to conduct business with confidence.

Reduced Response Time

A key piece of financial business is moving quickly when the time is right. Additionally, your clients expect you to be available to address their concerns and needs. When you use document management for financial advisers, you cut down on your response time in two ways. First, you see correspondences immediately. If a client emails you, fills out a web form, or uses some other form of electronic communication, that message arrives on your mobile device immediately. The system also stores and catalogs the message, utilizing keywords in your content services framework.

The second way that document management allows you to reduce response time is through access. Instead of rooting through piles of papers and files, looking for the information you need, one search brings it all to you immediately. You can answer clients’ questions and concerns without delay. This establishes trust between you and your clients and brings you more business as well.

Simplified Compliance

Financial regulations are essential but brutal. Keeping up with the ever-changing regulations from all the different financial authorities is easily a full-time job. Many financial companies end up scrambling each time new regulations are introduced. Document management takes you out of the reactive posture and allows you to make simple and easy corrections to adapt to new regulations.  With a system that already tracks every document and communication, any new compliance measure you receive finds you prepared.

There is a fine line between being a good financial adviser and being the best. Work the tools you have to your advantage, and choose document management for financial advisers. If you are interested to hear more, contact MaxxVault today.