It’s no secret that advisors are short on time.
In fact, one recent survey shows that more than one in four advisors feel they don’t have enough time with their clients.
Streamlining processes and reducing workflows isn’t just a benefit these days, it’s essential. Workflows are one such solution that give advisors a greater work-life balance, provide more opportunities for client connection and help your overall firm retain top talent.
Let’s explore how workflows benefit advisory firms, as well as five essential CRM workflows for rapid meeting response that you can begin implementing today.
What is a Workflow, Really?
“Workflow” is a fancy word for “process.” For the purposes of this article, we’re using it as shorthand for “automated workflow,” meaning any workflow that is accomplished automatically via software.
In financial planning, workflows are an important part of creating a consistent client experience. If you only remember to follow up with clients 75% of the time, you’re leaving a significant amount of your clients in the dark about your plans for their portfolio.
Likewise, if you usually follow up with a client and then forget, they might interpret that change as a demotion of client service – a workflow can prevent such mishaps.
But client follow-ups are just one aspect of workflows. Workflows are useful for creating any formal processes. In essence, a workflow breaks down a single “task” into more digestible sub-tasks, establishing a “clear timeline of what must be done and who will do it.”
In a sentence: Workflows are any form of process automation within your CRM.
How to Create Workflows
Great processes have clear goals in mind – before you can create a solution, you need to know what you’re trying to actually solve (and why!).
For example, if you’re trying to find efficiency in your firm’s meeting responses, think about what that would look like in action. As you visualize success, do you see more consistency across your advisors? Do you imagine a more personalized, communicative experience for your clients? Having goals in mind can keep you on track and motivated to stick with any changes in your processes.
As you think through your workflows, it’s a good idea to outline how you think the workflow will look in action. Then, you’ll want to loop in any team members that will be involved in implementing these changes.
Consulting with core team members can help ensure the order of tasks within the workflow makes sense, while also giving you an opportunity to address any questions or concerns before you get started.
Lastly, be sure to schedule check-ins with your team throughout and following the implementation of your new workflows. These meetings will give you an opportunity to collect feedback and make adjustments to tasks as needed.
5 Essential CRM Workflows for Rapid Meeting Response
Rapid meeting response is a multifaceted process. Here are five workflows to help you streamline your meeting response time for higher firm efficiency and a consistently positive client experience.
1. Transpose notes and tasks
Your thoughts are most fresh in your mind right after meetings – this is the time to document any ideas, important information or updates for clients. It’s also the time to set up any necessary tasks you’ll need to complete moving forward.
But advisors are often having conversations with clients on-the-go at golf courses, restaurants or even their homes. Even if you can find a spot to sit and write out your meeting notes and write tasks, the time it takes to do so can eat into the rest of your work schedule.
That’s why notes taken via dictation are the superior option, especially since humans talk on average three times faster than we can write!
With Mobile Assistant’s TalkIt+ app, you can easily transpose notes after each of your meetings and automatically create tasks. Just speak your notes and tasks into the app and they will be transcribed and loaded into your CRM in 24 hours or less. We even provide guided templates to standardize note-taking across your team and book of clients.
2. Sharing notes and tasks with your team
After dictating your notes, advisors often need to share them with other team members in their office to complete any follow-up tasks.
Mobile Assistant allows our clients to easily share notes between other firm employees in a safe, digitally secure route right from the TalkIt+ app, saving time, cutting down on emails and keeping client information secure.
3. Adding data (such as notes, tasks, forms and workflow items) to CRM
After collecting your meeting information in the app, you’ll need to add that data to your CRM. Things like notes, new tasks, forms and workflow items can be automatically sent to your CRM through Mobile Assistant’s integration capabilities.
4. Update client data
While you’re updating your CRM, you’ll also want to update any necessary client data. If they’ve had a change in income, beneficiaries or other pertinent information.
Accurate client data ensures you have all the information you need to deliver the best possible advice, while also promoting efficiency.
5. Following up with clients
Lastly, it’s important to follow up with clients and keep them in the loop on any progress or next steps. The best follow-up emails include a brief overview of the meeting, their action items and your next steps. It’s also a good idea to invite any questions at this time that they may have regarding what you discussed in the meeting.
With all your transcribed notes ready for reference, it’s easy to put together post-meeting follow-ups.
By implementing CRM workflows across your firm, you can accomplish rapid meeting response without sacrificing high quality service.
Implement Workflows with Mobile Assistant
Mobile Assistant is revolutionizing the note-taking process for financial professionals everywhere. Click here to learn more or connect with a member of our team today.