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5 Financial Advisor Workflow Tips to Keep Clients for Life

June 11, 2021

Victoria Donovan
Content Specialist at Sync

Sync for Financial Advisors

Building strong client relationships is the key to success for any business. In fact, studies have shown that a 5% increase in client retention can lead to a 95% return in profits. Happy clients spend more over time, refer their friends, and are more likely to post positive reviews online. It’s win-win for everyone.

For financial advisors, complex workflows get in the way of all that happy healthy relationship building. Slow, inconsistent processes take up time and energy better spent understanding clients and helping them reach their financial goals. Optimized workflows keep your clients safer and make file sharing easier, organized, and scalable. With that, you’ll be on your way to building stronger client relationships that last a lifetime.

“Trust has to be earned and built up over time, and it’s a function of reputation and of experience” – Barry Ritholtz, co-founder and CIO of Ritholtz Wealth Management
1. Always keep client data safe and secure

Are your workflows keeping your clients safe? You may think that your important and confidential client files and documents are safe, but the tools you rely on may not be so secure. You could be putting your clients at risk.

Email attachments are easily lost and not encrypted, meaning they can be read by you, your clients, and just about anyone else. Local file backups on external drives are a great solution until your backup drive fails. Furthermore, not all cloud storage providers are created equal as most are not up to the task of keeping your confidential documents 100% secure.

So how do you keep your client data safe and protected? Sync provides secure, encrypted cloud storage and file sharing that keeps your client files fully backed up and protected from threats (like those insidious hackers). And with Sync, you can ensure that your business is compliant with widely accepted security and privacy regulations around the world. Your clients need to know that their data is safe in your hands.

Therefore, by integrating secure cloud storage into your workflows, you’ll never lose a file again. Can you say happy clients for years to come?

2. Make client file sharing as easy as possible

Helping your clients reach their financial goals requires a lot of back-and-forth file sharing. But are the file sharing solutions you’re using today difficult to manage and slowing client communication? If so, you need a client file portal.

A custom branded client file portal makes file sharing a snap. Sync’s secure client file portal makes connecting with clients, customers, and external stakeholders easy, safe, productive, and professional. With a client file portal, you can send and request files and engage in conversations, all while staying organized and in control. Your clients will have their own easy secure file sharing area, branded with your logo and colors, to upload and download their files.

No more sorting through long email chains to find attachments, switching between platforms, or spending countless hours trying to figure out how to share a large file. Integrating a client file portal into your workflow leaves a lasting, professional impression that builds client trust. And trust is the foundation for long-lasting relationships.

3. Keep client files organized and accessible

How messy is your computer desktop? If you’ve got client files, documents, notes, and data scattered all over the place, you’ve probably been struggling to find what you need when you need it. A workflow that limits work itself is a huge problem. So how do you get everything organized?

Because financial advisor workflows involve creating and sharing many files and folders, using a Marie Kondo-like file organization plan might be your best first step. Imagine a centralized folder location on your desktop, with all your client files and folders neatly organized, accessible, and shareable. With Sync installed on your computer, this is doable. And you get easy access from any device, anywhere, anytime. Not to mention that sharing internally with your team is easy too. Create your own financial advisor zen space.

Thus, you and your team will be more organized with fast and effective file access, and your clients will never be left waiting again.

4. Use a CRM to streamline client intake

Client onboarding doesn’t have to be a complex problem for you to solve. In fact, it can be automated! Specialized tools that help you manage client profiles, collect information, and track progress save you countless hours on information intake. This keeps your focus on building meaningful client relationships. Consider a financial advisor CRM platform such as Advisor Flow to onboard new clients faster and smoother. Those first few client interactions are so important for building clients for life.

5. Scale easily as your client-base grows

Lastly, don’t let the busy season slow you down. The tools and workflows you use can make or break your business, especially when business is good. Scalable cloud-based solutions provide predictable, lower costs when your business is growing, so you can deliver the best possible financial advice, at any size. And all without having to call in an IT department or set up complex, expensive software. Question: what is the perfect, budget-friendly, and scalable cloud storage and file sharing app that’s easy to manage yourself? Answer: Sync!

Modern tools like Sync handle your dynamic workflows, files, client sharing, and teams at any size, in a single platform with room to grow. This is key to getting those 5-star satisfaction reviews.

Keep your clients for life

Your clients are counting on you to provide the best financial advice possible. You make smart decisions for your clients, but are you doing the same for yourself? Get rid of all those complex workflows and get your firm in Sync. Who doesn’t want happy, satisfied clients for life?

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