ReportWa - Reporting Automated

  With 2020 completely being altered due to the pandemic, people are relying more now on technology. Financial advisors have navigated using tools such as Zoom and Docusign. However, it’s important to have technology in place ready to go, regardless if there’s a pandemic or not. Client reporting is critical from a customer service standpoint, as well as regulatory. Various notices must be disclosed at certain times. From a portfolio perspective, your clients likely want to view their holdings and performance whenever they want. Having all this information within a database is critical in remaining competitive.   Client Relationship   First, having a strong online presence can help build the client relationship. 30 years ago people would have to call or wait for their statement. Now, clients can simply wake up in the morning and log on, seeing their accounts. This gives your clients the peace of mind that their assets are secure, and they can monitor anything in real-time....

Smaller RIA firms are underutilizing reporting software. This could be a measure to save costs or simply maintain an old way of thinking. As your firm continues to grow and scale, you’ll need to look at implementing a portfolio performance reporting software that’s robust and can grow with you. Also, it needs to integrate well with existing software and limit the time needed to transition. There are several different areas within your business that will be impacted, and this article will dive into that. Know that as we continue to evolve with financial technology, so will your firm. Client Reporting This is one of the most important aspects of reporting that you’ll face. Your clients will require several different reports or maybe request a custom report. The reports can vary from account information, asset breakdowns, and purchase history. Having your client’s information be readily available can take time if you do it manually. However, by implementing ...