CRM Software

3 Tasks Advisors Delegate to Their CRM


Written by Kronos Technologies on September 06, 2018

The best advisors in the business are constantly striving to work at the highest level of their capability in order to deliver the greatest value to their clients. They understand that, while they could do everything themselves, performing low-value tasks (like managing their schedules, entering data and maintaining records) doesn’t make the best use of their time and skills. Instead, top advisors lean on their CRM software solutions—which are awesome at handling the necessary, but unrewarding activities, that can eat away at your day. 

Read on to see how to grow your business by delegating key functions to your CRM—freeing up badly needed time and brain-space.

Top advisors get the most out of their resources

One of the reasons top advisors are so successful is that they are able to find ways to optimize everything they do. They spend less time and effort on routine tasks in their practice, and instead focus on what really matters—their clients. Instead of doing everything themselves they make the best use of the resources available to them, like their staff, partners and technology. 

Top advisors understand the value of their time. They make intentional decisions rather than go with the flow. They strive to make conscious choices about the tasks they get involved in, rather than just doing something because they assume it will be quick or easy. They make the decision to delegate rather than get bogged down in all those “just-five-minute” tasks that you perform every day without even thinking. 

Here are three ways that top advisors turn time-sucking tasks into revenue generators.

Taking care of the compliance headache

For many advisors achieving compliance—while a good idea—takes a fair amount of work, and can cause undue stress. Record retention requires that documents related to each sale be filed with the rest of your client records. Demonstrating a needs-based approach to selling means keeping notes and needs analyses to be able to prove that you have the client’s best interests at heart. In a paper-based practice, this means time must be spent on low-value tasks like filing and data entry. It all seems a little more onerous than it should be, and keeps advisors from spending more time with their clients.

But top advisors have a different perspective. They don’t view compliance as a set of regulations that have unpleasant consequences if breached. Instead, they understand two important things about compliance:
First, top advisors get that compliance can be handled by technology (saving time and removing one more thing to think about in their business). To turn their profitable perspective on compliance into effective reality in their practice the best advisors delegate many compliance requirements to their CRM. A good CRM enables you to go paperless. You can automatically attach documents, FNAs and audio recordings to client records. And activities can be automatically frozen to preserve your compliance audit trail—all without advisor hassle. 

Secondly, being compliant can be a source of growth for a practice. It means meeting client needs, which generates goodwill, builds trust and deepens relationships. Being compliant, in the form of completing FNAs and holding regular client reviews is an awesome way to generate a steady stream of cross-selling opportunities.

Proactively finding the best client opportunities in their book of business

Top advisors have a different mindset than most when it comes to how they view client service.  They are proactive rather than reactive—which enables them to spend time and effort where it will have the biggest payoff. Rather than just reacting to incoming questions and help requests, top advisors determine who their most profitable clients are and target them with comprehensive service strategies. 

At the core of all proactive service strategies is the need to segment your client base. That’s why top advisors use advisor-specific CRMs that enable them to sort their client base by any key criteria they want. Top advisors use good CRMs to easily find the diamonds in their book of business and target them with high-value strategies—including activities like seminars, client reviews, newsletters, and lunches that they regularly offer to their ‘A’ and ‘B’ clients.

Management of self and staff

Forget the Google or Outlook Calendar and the post it notes, top advisors recognize that the best way to be efficient and effective every day is to organize and automate activity to the extent that they don’t have to put a lot of effort into thinking about what to do next. Top advisors develop strategies and plan their activity in order to achieve their goals in the most efficient and effective way possible.

The best advisors set goals, break then down into monthly targets, then map out strategies for hitting those marks. And they use their advisor-specific CRM to set-up and manage the activities required for successful implementation of their strategies. As a result, as they progress through the execution of their strategy, they are guided by daily alerts about what the next task should be and when it needs to be carried out.

Wrap up

The key to evolving into a top advisor is to consistently question everything you do in your practice. Throw out the old ways of thinking and look for opportunities to streamline and optimize your processes. Discard the old mindsets—and make intentional decisions to find ways to delegate low-value tasks to staff and your CRM, so you can spend more time focussed on your clients.

Discover more advices for being even more efficient in this article about productivity and time management tips for advisors.


Refer us

Share the benefits of Equisoft/connect with your colleagues.

Introduce a new customer to us and get a one-time discount of $50 on your monthly subscription for each new Equisoft/connect user referred.

Your information

Oops, this field is required!

New user information

Oops, this field is required!