Increasing the return on investment is the goal of every business, and there are three core ways to achieve this: increasing the value of current clients, increasing client volume, and reducing resource expenditure.

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Digitisation via financial planning software can help with all of these, thereby contributing to improving ROI over time. Here is a brief breakdown of how financial software can help increase your business’ ROI.

Quality client touch points

Client touch points, or the points at which your clients interact with you from start to finish, can have a major impact on client satisfaction, thereby altering the value you can gain from current clients. Happy clients are far more likely to stick around during a downturn, invest more, and even refer new clients.

Financial advisor software like https://www.intelliflo.com/financial-adviser-software gives financial advisors significant amounts of client information with little to no time commitment, leading to personalised client service and making clients feel valued.

Another option produced by FinTech is a client web portal, or even a mobile app, both of which create an additional touch point and give clients more of a feeling of control and involvement over their investments.

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Increasing client numbers

As long as you have the capacity to take on new clients, you can usually increase revenue and ROI by doing so. Financial planning software can contribute to increasing client numbers in two key ways: marketing and lead generation.

With marketing, FinTech primarily contributes through statistical analysis, providing demographic-specific marketing information that leads to the possibility of extremely effective targeted advertising.

Lead generation follows on from demographic-targeted information, as well as from increased customer satisfaction. Lead generation is putting the demographic information into practice, using the generated information to convert potential clients into paying clients.

Reducing advisor time requirements

Finally, financial planning software can have a massive impact on the ease with which financial advisors can assess risks and properly manage client assets. Less time spent for the same or better results means the same functional cost can cover a larger number of clients.

Software can accomplish this in part through aggregation services. This entails aggregating all relevant information, from market and risk analytics to client accounts and preferences, in one place for maximum usability. It’s a good way to boost efficiency whilst reducing the chance of an analyst missing something.

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