The best advisor tech tools offer a bridge between thought and action, making your workday go by smoother and freeing up your time to focus on delivering quality service. For many, dictation software offers just that – providing efficiency and new opportunities for personalized client interactions.
But how can you be sure that dictation software is right for your firm?
Today, we’re exploring the five kinds of advisors who benefit most from dictation technology. From saving time to standardizing processes, these types of advisors have found a powerful ally in elevating both client and advisor experiences – will you?
Which Advisors Benefit the Most from Dictation Software?
1. Advisors who want to save time.
It’s no secret that advisors are short on time.
In fact, a 2019 survey from Kitces showed that advisors spend about 5.3 hours per week just on meeting preparation, and an additional “6.6 hours of doing the supporting financial planning, investment, and other analytical work to answer client questions.”
None of those numbers include the time you spend actually meeting with clients or prospects, either! Kitces himself notes that the survey’s results show how much room there is for improving advisor efficiency.
That’s why tools like dictation software are so valuable to firms focused on saving time. For example, our clients here at Mobile Assistant enjoy an average of 48 hours saved each year through talk-to-text technology and human transcriptionists. That’s more than an entire work week!
Related: A New Generation of Financial Advisors with Southwestern Investment Group
2. Advisors who want to save (and make) more money.
Saving more – and making more – money is the bread and butter of financial services. It’s all about finding ways to turn numbers on a screen into real-life solutions for your clients. But as a financial professional, you also have to think about your own bottom line – how you can provide the best service at the best cost.
That’s why money-savvy advisors benefit financially from dictation software, with our average client generating $397k more each year than competitors.
In an industry literally run by the numbers, that extra dough (and the savings you get through cutting costs from hiring an in-house note-taker) can make a big difference to your team and their clients.
3. Advisors who want to standardize processes.
Every advisor has a little bit of a different style – how they talk to clients, how they introduce new financial planning strategies and concepts, how they manage a portfolio. And while advisor individuality is critical to making those client connections, it can also cause issues when your medium-to-large firm has a growing team of advisors operating with various methods.
Maybe some of your advisors take down extremely detailed notes – perhaps spending too much time on erroneous details – while other advisors often forget to jot down important follow-up information. To ensure each client within your firm has equal access to tools and resources, there needs to be some sort of standardization.
Enter: the new evolution of dictation software.
Mobile Assistant provides more than just transcription services – our software offers pre-built and customizable templates that you can share across your entire team. With these templates, your advisors will be prompted to follow the same questions after meeting with a client, ensuring they document all the important information each and every time.
4. Advisors who prioritize accuracy.
Did you know that Mobile Assistant users achieve 15% more detailed meeting notes than their competitors?
When advisors record their notes right after client meetings, they have all those important details fresh in their mind. And with our mobile app, those recordings can take place anywhere – your car, the golf course, at home. You don’t have to wait to get back to the office, you just need your phone.
From there, our United States-based team of transcribers organizes those thoughts into clear notes and sends them back your way. With a quick turnaround time and accurate transcriptions, you can feel confident that your meeting notes are complete.
5. Advisors who want to improve productivity.
With custom template capabilities and all your favorite integrations, dictation services like Mobile Assistant can help your team do more. From sharing notes with colleagues to uploading action items into your CRM, dictation software has evolved beyond just transcription.
Plus, the organized storage systems provided by dictation software makes your library of notes easily searchable, so you can find important information in just seconds.
If you’re an advisor looking to save time, up productivity, make more money, standardize workflow or increase your note accuracy, dictation software might just be the answer.
Do More with Dictation Software
Think dictation software might be a good fit for your firm? Let’s find out! Click here to try out Mobile Assistant for free or schedule a live consultation today.
