Financial advisors affiliated with broker-dealers, IMOs, FMOs and other marketing organizations are always on the lookout for tools that provide a competitive edge. In today’s digital age, technology not only streamlines operations (think the elimination of “not in good order” (NIGO) applications), but also enhances the overall client experience, leading to deeper relationships and greater lifetime value.
There are several online services that financial advisors can add to their practice that are a natural fit with the investment and insurance products they sell. One such service is offering a comprehensive online estate planning suite. By integrating a simple digital estate planning tool like the one offered by LifeLegacy, advisors can empower clients to secure their legacies with ease, eliminate paperwork and streamline the process of drafting wills. This not only adds a valuable service to your portfolio but also builds trust with clients by demonstrating a commitment to their long-term financial security.
Another valuable resource is an online (or analog) document storage and organizing system. Some clients are comfortable with utilizing a digital storage platform like the one offered by Trustworthy, which provides secure online storage for essential documents. Others may want a more analog solution like the solution from Nokbox. The Nokbox is literally a box – a complete system that helps you organize all of your accounts, possessions, social media presence, communities, kids, pets, personal history, and estate plans in one convenient physical “box.”
Beyond estate planning and document management, advisors can benefit from offering a suite of complementary online services. Automated portfolio rebalancing tools and tax optimization software like UREBAL from Softpac and LifeYield by SEI.enhance the overall efficiency of client management. Financial planning and budgeting applications offer a comprehensive view of clients’ financial health, allowing for tailored advice that addresses both current needs and future goals.
By integrating innovative online tools like online estate planning, document management, and portfolio rebalancing, financial advisors not only enhance the client experience but also solidify their own position as forward-thinking, client-centric professionals in a competitive marketplace.
Head of Partnerships
Craig@lifelegacy.io
Why should financial advisors offer an online estate planning suite to clients? Here are a few key reasons to consider offering this valuable tool from LifeLegacy:
We sat by the river, watching it run the same way the idea we had been talking about was running full steam. His philosophy was “ready, fire, aim!” All of us were just trying to catch up and put a framework around his dreams.
A well-crafted policies and procedures manual is essential for any non-profit. It helps guide how money will be received, how gifts will be entered into your CRM, and what gifts will be accepted and what gifts will not be accepted, among other things.
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