Like all other information-based professions, financial planners have moved sharply toward digitisation in recent years.

The biggest difference for financial professionals, perhaps, is the sheer amount of time-critical data they need to have access to in order to make informed decisions. Here is a brief breakdown, then, of core software solutions used by modern financial planners to ensure a high return on investment for their clients.

CRM Databases

At its core, to be a successful financial planner you need to create and maintain strong, trusting relationships with your clients. Few things can assist with that, but one that can is strong CRM, or customer relation management, software.

CRM software usually functions as a database, storing information about clients and their accounts, including meeting notes, preferences and little personal notes about the client, which enable the planner to keep the customer feeling valued.

Financial Planning Solutions

Unsurprisingly, financial planners get a lot of use out of specialist financial advisor software programmes such as those from

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Financial planning software can help the planner keep client accounts balanced as to risk and asset placement, as well as helping the planner to communicate what their choices will mean to their long-term financial wellbeing.

Risk Management Analytics and Simulations

Risk management is a major part offinancial planning, as is evaluating a client’s risk tolerance. Risk management software, therefore, can provide two things.

First, information for the planner on potential risks or mis-allocated assets to help prevent large losses based on fluctuation in a single market segment.

Second, risk management software can provide simulations of past financial crashes and downturns, to demonstrate investment risks to clients, or to illustrate the benefit of a diverse and well managed portfolio.

Data Aggregators

To make the right decisions for clients, financial planners need a huge amount of up-to-date information presented in a useful manner. This is the role of data aggregation software, which can pull market data as well as client account and investment data, and present it in a usable manner.

Web Portals for Clients

With online and even mobile banking now being the norm, many clients want more consistent access to their investment information than a quarterly report can offer.

Web portals and mobile apps that give clients access to their investment performance data are quickly becoming a necessity for financial advisors.