Technology and the future of your practice

Technology is advancing faster than ever before. Who knew that dial-up internet would morph into voice assistants like Siri and Alexa? For financial advisors, this breakneck pace makes you wonder: is a nameless robo-advisor after my clients, or are clients just going to start asking Siri for financial advice?

How the right software, now, will matter tomorrow

Technology can enhance your future. You’ll have access to exponentially more data to improve the quality of your advice. But with technology doing more of the work, the role of the advisor will shift. This commoditization of financial advice creates two paths: maintain current service levels while cutting fees, or increase the value delivered and identify ways to track and quantify that value. Much of the industry will be involved in a race to the bottom, but there will be significant opportunity for those who choose the latter path.

Don't be left behind

Do research to determine which tech tools are the best fit for your practice. If you serve mass-affluent clients in retirement transition and beyond, Covisum® is a great fit — that’s Covisum’s niche. Advisors who use Covisum technology answer questions like, “When can I retire? When should I claim Social Security? What impact does the new tax law have on my retirement strategy? Will I be okay if the market crashes?” Siri might make take a dictated grocery list well, but only you can provide the personalized financial expertise to answer complicated financial matters like these. 

See how Covisum can add value to your practice

Check out this on-demand Q & A webinar where Joe Elsasser, CFP®, President of Covisum, discusses the future of the financial services industry with Lauren Laferla, our Public Relations and Content Marketing Manager.

Covisum_10126 Q&A On Demand - FINAL