The Big Q: How Advisors Can Harness Technology to Exceed Customer Expectations

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The Big Q: How Advisors Can Harness Technology to Exceed Customer Expectations

Deanne Gage, May 30, 2022

 

When advisors require a technology solution for their practices, their inquiries often start in one of two ways: asking their technology manager or conducting a Google search. 

Enter DigiCat 2.0, an extensive list of digital tools used in an advisor’s business — exclusively available to Advocis members. But DigiCat 2.0 goes beyond a bunch of names, as all product offerings have been personally vetted by a technology committee of advisors. They have done the major legwork, featuring solutions — often Canadian-based — that meet a firm’s regulation and licensing requirements.

“Most advisors don’t have a technology background to be able to do a quick analysis on a product and draw a conclusion as to whether it’s useful or not,” says Alexander Potter, a financial and security representative at Freedom 55 Financial in Vancouver. “Digicat 2.0 helps us filter through all the possible things that are out there. I will go on there from time to time to see what things I should be considering as useful tools to apply to my practice.”

Justine Zavitz, vice-president and financial planner at Zavitz Insurance & Wealth in London, Ont., consults Digicat 2.0 to see if the technology she’s currently using passes muster or if there are better alternatives. “Throughout the pandemic, we adopted a lot of technology in a hurry,” she says. “Now we wonder if these are the best technologies being used. Are there other technologies that are less expensive or more functional? It’s like a cross reference on the efficiency in our business.”

For example, Zavitz is currently looking at better ways to collect client information for financial plans. Through DigiCat 2.0, she has explored a few alternatives to her fillable PDF and done some free trials. “I’ll keep checking back if I haven’t found the right things as there’s always new technologies coming out and better ways of doing things.”

Potter would like to see Digicat 2.0 expanded further to include specific recommendations in different categories. “Something that says if you are at this phase of your technological evolution, you may want to consider this tool first before you enter into this secondary tool.”

“With version 2.0, we’ve created an easy-to-use mobile app-like experience for members to find quality tools to work more efficiently,” says Herman Chan, Vice-Chair of Advocis’ Technology and Innovation Committee and DigiCat Project Lead.

Digicat 2.0 is an updated catalogue of digital tools to enhance a financial advisor’s and planner’s practice. It points you to best-in-class software solutions to meet your technology needs in CRM, Financial Planning, Digital Marketing, and elsewhere. 

Digicat 2.0 is a benefit of Advocis membership and can be found on your Advocis member dashboard

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