Financial advisors are more than mere trade executers for their clients. Their role begins with building a network and establishing relationships with their clients to decipher their unique and specific financial needs, be it individuals or organizations.
An advisor needs to be knowledgeable and insightful to dole out advice that is tailor-made for every client. This requires in-depth knowledge, both about the client and financial instruments at large.
Financial advisors spend most of their valuable time on backend activities, leaving them with little time to interact with their clients and almost no time to research on swift product developments that occur in the market today.
The vast variety of financial instruments and the lack of an Omni-channel platform makes it impossible for the IFAs to have comprehensive knowledge about the multitude of financial products that float in the market.
Current sources
Today, advisors are dependent on isolated websites and platforms that offer information and historical data about products but are specific to a single brand. This complicates the advisor’s hunt for information across instruments, brands, and sites for a fitting comparison of financial products.
Yes, there are training sessions organized by manufacturers, unfortunately, these bits of training are aimed at product promotions done solely by the manufacturer or brand, which are most certainly biased.
Advisors also depend on other sources of information and insights. They network through chat groups like telegram; they are associated with fellow advisors and product manufacturers on social media groups and even look up to friends and peer groups for recommendations and updates.
Though these conventional sources may have its unique advantages, they cannot match the strength that today’s tech-based Robo-advisory brings with it. It is high-time financial advisory evolves from traditional techniques to the modern methods.
Fintso aims to solve this specific predicament that advisor’s face, especially for those who lack the backing of a large firm and access to requisite technology.
How?
Fintso’s platform is designed on open architecture, which ensures advisors have the ability to comprehensively satisfy their client’s financial needs. Besides, equipped with the cutting-edge Financial planning app in India and premium financial planning software for advisors, Fintso always strives to act in the best interest of their clients.
Open architecture ensures that no single product or asset class is a focus point, making it a neutral and unbiased platform. Being an Omni-platform, an advisor can be assured that product promotion will never be the aim of recommendations.
A dedicated product and research department team work tirelessly in the back-end to curate periodical insights that assist advisors to keep their clients duly up-to-date and informed every step of the way. This ensures an easy and expedited decision-making process which is especially needed in times of volatility.
The back-end assistance and insight reduce the burden on advisors, freeing them to spend more time in their core activities that involve building essential bridges of trust with the investors. Information gathered by the research team involves cross country and cross economy data comprising of best asset allocation, sector selection, and distribution in market cap. The set of these vital statistics make it far simpler for advisors to select the right product, schemes, and solutions to suit their investor’s unique financial needs.
Financial advisors today are burdened with the functionality of back-end tasks that take away their precious time from their core activities. However, with Fintso’s support team, advisors can now assign their mundane tasks to the team and focus on advising investors efficiently and effectively.