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....

In the most certain terms, performance reports are the most important service that RIAs can offer their clientele. RIA performance reporting is what separates RIA services from bots and algorithms that can be purchased for far less than a qualified RIA. It is therefore essential that RIA performance reporting manages to satisfy and entice clients into continuing to use RIA services. The following are 3 ways that you can make your performance reports more essential, beneficial and ultimately more enticing for your current clientele. Integrate financial progress into performance reports Performance reports should not be all about financial returns. Financial returns are short-term measurements that may be visually appealing when laid out precisely on a report page, but they are often next to useless for clients who are using RIA services to meet more specific financial needs. Your RIA performance reporting should contain clear information about the financial progress of the cli...