{"id":4595,"date":"2019-10-07T08:55:12","date_gmt":"2019-10-07T13:55:12","guid":{"rendered":"https:\/\/www.figmarketing.com\/blog\/?p=4595"},"modified":"2019-10-07T11:07:59","modified_gmt":"2019-10-07T16:07:59","slug":"what-disruption-in-tech-means-for-the-financial-professional","status":"publish","type":"post","link":"https:\/\/www.figmarketing.com\/blog\/what-disruption-in-tech-means-for-the-financial-professional\/","title":{"rendered":"What Disruption in Tech Means for Financial Professionals"},"content":{"rendered":"

It\u2019s safe to say that we live in a world dominated by technology. With advancements happening at an exponential rate across every industry, it comes at no surprise when I say that technology isn\u2019t going away. Now, I know where your mind is going \u2013 \u201cHere we go, the whole please embrace technology now or we are coming for you\u201d <\/em>pitch. But, that\u2019s not exactly the angle I\u2019d like to take.<\/p>\n

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So, how is technology disrupting<\/em> the world we live in? As you\u2019ve probably noticed, the key word here is disrupting<\/strong>. Not necessarily a positive undertone by any means (especially from someone who\u2019s a part of a software development team). But it\u2019s true. Arguably, technology\u2019s main purpose is to compliment and improve our lives. However, if we didn\u2019t throw in the idea of disruption, then I\u2019d argue that technology wouldn\u2019t improve at the rate it has \u2013 let alone have the impact it\u2019s had.<\/p>\n

How Tech Adds Value<\/h2>\n

Look at Amazon, which originally started as a marketplace for books. Hardly disruptive back then by any means, but it started as a way to improve the lives of those who wanted easier access to books. Now, flash-forward and Amazon has fundamentally revolutionized the way the world sees commerce.<\/p>\n

It\u2019s almost impossible to argue the fact that they\u2019ve single-handedly caused a huge disruption within commerce itself, affecting almost every brick-and-mortar store there is. Those companies that resisted the idea of embracing technology early on are now a part of history (Rest in peace, Blockbuster,<\/strong> Borders Books<\/strong><\/a>,<\/strong> and\u00a0Toys-R-Us<\/a><\/strong>).<\/p>\n

Like I eluded to earlier, it\u2019s not all doom-and-gloom from my perspective. Yes, society dictates and forces us to use technology, but to truly embrace it you must understand the motive behind why software development teams like ours do what we do.<\/p>\n

\"image<\/p>\n

Trust me, it\u2019s not that<\/em> scary. Ultimately, our whole mantra is to create as much value as possible to those that we build solutions for\u2014our clients. Wait, does this sound familiar? Trying to create the best possible product or solution for a client. It\u2019s exactly what a financial advisor does every single day<\/em>. What if we paused here and switched our mindset?<\/p>\n

We can throw our arms up and tell the world that we hate that technology is disrupting us all we want. But really, it\u2019s just a mindset. Let\u2019s look at our software development team here at Financial Independence Group. Our primary goal is to deliver the most value to our advisors who, in turn, are trying to create as much value as possible to their client. It\u2019s a team effort for a common goal.<\/p>\n

Transforming the Client Experience<\/h2>\n

Now, I get it \u2013 embracing programs like e-Apps<\/a><\/strong>, Force CRM<\/strong><\/a>, and marketing trackers disrupts a process you\u2019ve done your entire career and are extremely successful with it. But, how are you improving? And most importantly, are you improving the lives of your clients?<\/strong><\/p>\n

The goal of these initiatives is to help financial advisors possess the tools to better improve the engagement with their clients. Engagement includes but isn\u2019t limited to communication, access to information, and quality of advice. Every decision you make for your practice surrounds this paradigm. This should include technology as well. Too many times, we see the adoption of technology platforms because \u201cwe were told to\u201d or \u201cbecause everyone else does\u201d. If there\u2019s anything you take from this article, it\u2019s this: Only implement technology where you see it creating value to your practice and clients \u2013 and understand why<\/em> you\u2019re taking the steps you are.<\/strong><\/p>\n

Easier said than done, though. This requires you to understand the platform you\u2019re looking to implement. Do research, read reviews, and sign up for trials. Do whatever it takes for you to get a core understanding on how a specific platform will enhance your business. Adopt an application because you want to embrace it, knowing that it\u2019ll enhance the experience for you and your clients. Don\u2019t just pick a technology because someone tells you to. Know that it’ll work for you.<\/p>\n

As you continue your search, you\u2019ll begin to see something interesting: The more you know about a technology platform, the more exciting it becomes. Not only about the application itself, but about the possibilities<\/em><\/strong> that technology has. It allows us to have whatever we want, whenever we want it, right at our fingertips.<\/p>\n

\"fintech<\/p>\n

Final Thoughts<\/h2>\n

Could you imagine a world where you have all the information you need for a client right there, in real-time? What about a world where insurance applications take seconds, not weeks to approve? How about being told when and how to communicate with a prospect?<\/p>\n

The list of possibilities is endless. Disruptive? Yes. Full of change? Definitely. Exciting? Heck yeah.\u00a0 Interestingly, a lot of articles you read about technology today conclude by stating that \u201cit\u2019s not a matter of if<\/em>, but when<\/em>.\u201d I\u2019d argue that the \u201cwhen\u201d has passed. Our space has moved into a whole new era.<\/p>\n

You\u2019re now in an industry that has, and is, fully embracing technology. Disruption is here. Are you ready?<\/p>\n

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Looking for ways technology can improve your processes and efficiencies?<\/h4>\n

Contact us today<\/a> or reach out to your private client group to learn more!<\/h4>\n

\"Financial<\/p>\n","protected":false},"excerpt":{"rendered":"

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