Posted by:Leesa John February 4th, 2014

Look around! Most of your fellow financial advisors (the biggies, the mid-sized and the small ones) have some kind of mobile app. 2013 was the year for most of them to embrace mobility. It’s been a year now and it’s time for evaluations.

If you remember, the concept of mobile apps in the financial services sector had a humble beginning like any other industry. Simple stand-alone apps took everyone by surprise and having a mobile app soon became a differentiator among competitors.

The most common categories of Mobile Apps used by Financial Planners:

  • CRM
  • Order management
  • Onboarding financial planning
  • Portfolio analysis
  • Portfolio management
  • Reporting
  • Proposal generation
  • Account aggregation
  • Client communication

The various permutations and combinations of the above stated mobile apps (supported by stable backend systems) have given rise to mobility solutions. Mobile devices have become an integral part of the client meetings and an essential element of the busy work day of CFPs and asset managers.

Meet the top 5 Wealth Managers with the Best Mobile App Strategy for High Net Worth Clients in 2013mobile_app_for_financial_advisors

  • Credit Suisse
  • Société Générale
  • J.P. Morgan
  • U.S. Trust

You may have guessed the list. But did you know that the mobile strategy of most of the wealth managers lack focus on wealthy client segment? Following the general trend, financial services industry has also embraced mobile apps. Unfortunately most of these apps serve the retail customers well and not rise up to the expectations of HNIs in a truly comprehensive fashion.

You know where your compensation lies. Pull yourself up, realign your technology strategy to support your goals. What is in your priority list with respect to technology for 2014 and how do you think it will support your goals?

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