Technology has broad implications for financial advisors and advisory firms. In an ideal world, software applications increase responsiveness to clients and automate the tasks that take time away from improving client relations. In reality, the array of technology solutions that advisors rely on is one of the biggest obstacles confronting them.
Morningstar’s suite of tools for advisors simplify financial research (Morningstar Advisor Workstation), integrate data, research and analysis (Morningstar Office), and contextualize the market (Morningstar Direct). They help advisors paint with finer brush strokes.
Good communication sets the great advisors apart. Being able to communicate what you do and don’t know and demonstrate your experience builds credibility with clients. Not every move works out, especially in periods of high volatility, so it pays to have a great rapport.
As a financial advisor, it’s critical to learn how to manage unforeseen events, mitigate risk, hold your ground, and earn a premium, but going through those experiences can be daunting. Morningstar is here to help.
Check out additional insights below.
