5 Must-have Technology Solutions for Independent Financial Advisors

Estimated read time 4 min read

In today’s digital age, technology has become an integral part of every industry, including the financial sector. Independent financial advisors, in particular, can benefit from technology solutions that help them stay organized, track performance, communicate with clients, and automate tasks. In this blog post, we highlight 5 must-have technology solutions for independent financial advisors that can help them streamline their operations, save time, and provide better value to their clients.

1. Client Relationship Management (CRM) Software

Managing client relationships is the core of an independent financial advisor’s business. CRM software helps advisors track client interactions, manage leads, set appointments, and automate follow-ups. With a CRM system in place, advisors can better understand client needs and offer personalized financial advice that meets their goals.

There are several CRM solutions available in the market, including Salesforce, HubSpot, and Redtail. Salesforce is popular among large advisory firms, while HubSpot is suitable for smaller businesses. Redtail, on the other hand, is specifically designed for financial advisors and provides financial planning workflows, integrations with portfolio management software, and compliance tools.

2. Portfolio Management Software

Monitoring investments and portfolio performance is a crucial aspect of financial planning. Portfolio management software helps advisors track portfolio performance, analyze trends, rebalance portfolios, and generate reports for clients. By automating portfolio management tasks, advisors can save time and reduce errors.

Some popular portfolio management solutions include Orion Advisor Tech, Black Diamond, and Tamarac. Orion Advisor Tech offers portfolio management, trading, and rebalancing features, while Black Diamond provides advanced analytics and reporting capabilities. Tamarac, owned by Envestnet, offers portfolio accounting, performance reporting, and billing for independent advisors.

3. Financial Planning Software

Financial planning software allows advisors to create and compare financial plans for their clients. These tools take into account factors such as income, expenses, net worth, risk tolerance, and investment goals to generate personalized advice. By using financial planning software, advisors can offer comprehensive financial plans that cover retirement, education, estate planning, and more.

Popular financial planning solutions include eMoney, MoneyGuidePro, and NaviPlan. eMoney offers a suite of financial planning tools, including cash flow planning, tax planning, and estate planning. MoneyGuidePro provides interactive planning tools and analytics to help advisors engage clients and demonstrate value. NaviPlan offers goal-based planning and scenario analysis capabilities.

4. Video Conferencing Software

In today’s digital world, face-to-face meetings are not always feasible. Video conferencing software allows financial advisors to conduct virtual meetings with clients from anywhere in the world. With video conferencing, advisors can provide timely advice, answer client queries, and build relationships with clients remotely.

Some popular video conferencing solutions include Zoom, Webex, and GoToMeeting. Zoom is known for its ease of use, affordable pricing, and screen-sharing features. Webex is a secure platform that offers advanced features such as file sharing and webinar hosting. GoToMeeting provides a clean interface, mobile compatibility, and video recording capabilities.

5. Cybersecurity Software

The financial sector is a frequent target of cyberattacks, and independent financial planners are not immune to these threats. Cybersecurity software helps advisors protect confidential client data, prevent phishing attacks, and secure their online presence. By using cybersecurity software, advisors can ensure the safety of their clients’ sensitive financial information.

Some popular cybersecurity solutions include Norton 360, McAfee LiveSafe, and Bitdefender Total Security. Norton 360 offers top-notch protection against malware, viruses, and identity theft, along with a VPN and Dark Web Monitoring. McAfee LiveSafe provides comprehensive protection across all devices, along with a password manager and secure storage. Bitdefender Total Security offers advanced ransomware protection and network security features.


Technology solutions can help independent financial advisors stay competitive in a rapidly evolving industry. By integrating CRM software, portfolio management software, financial planning software, video conferencing software, and cybersecurity software into their operations, advisors can provide efficient, effective services to their clients. As an independent financial advisor, investing in technology solutions can make a significant difference in your business success and client satisfaction.

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