6 Financial Advisor Tools That Will Get Your Firm Up and Running

XYPN has spent over 6,000 hours on our members' behalf, digging into 200+ different systems. You could say we’ve learned a thing or two about which systems are the most efficient and work together the best. We’ve compiled a list of six financial advisor tools that will get your firm up and running.

#1: Wealthbox - Free for XYPN Members

In a world full of complex CRMs, Wealthbox is the effortless odd man out. Wealthbox offers a user-friendly business hub for managing your practice, making it an attractive option for new RIAs. You gain access to task and workflow creation, report generation, note-taking, and calendar scheduling. Wealthbox also has over 100 industry integrations available. But most importantly, Wealthbox provides you with a location for getting to know your clients.           

#2: RightCapital - Free for XYPN Members

RightCapital’s collaborative approach to financial planning software enables your clients to do some of the work for you. This can be especially helpful if you are just starting out and all of your clients are new clients. The interactive portal provides clients with the opportunity to login and add information to their profiles, including linking accounts. The RightCapital vault acts as a secure location for clients to upload documents directly to you. If you’d rather not give clients full reign in RightCapital, don’t worry, there is also a view only setting.

#3: PreciseFP - Discount for XYPN Members

We’ve found that PreciseFP is an underutilized platform by XYPN members. XYPN is here to tell you that you might be missing out! PreciseFP offers a fast and easy way to collect client data and signatures. For anyone still in the building phase of their firm, leveraging PreciseFP as a building block can absolutely set you up for data-gathering success. You are able to send out engagements to clients using customizable templates for things like surveys, questionnaires, client agreements, custodial forms, and more. Similar to DocuSign, clients are even able to fill, sign, and return forms.

#4: Calendly

Every RIA needs an efficient way to schedule client meetings, and Calendly has proven to be both an affordable and streamlined solution. It is easy to set up and customize. Not to mention, Calendly has a host of integration capabilities with CRMs, Zoom, and Google Chrome. Adding Calendly to your toolbox from the get-go can set you up for successful calendar management right from the start.

#5: Smartria - Free for XYPN Members

Constantly keeping track of compliance can be frustrating and time-consuming, but it is also necessary. Enlisting the help of Smartria can help lessen the burden. The software gives you the ability to document your firm’s compliance with federal and state regulations. Smartria also provides a secure location for storing client data. Even the newest firms should be prepared for an audit. Smartria’s resources and quarterly reminders can help make staying compliant feel like less of a chore.

#6: XY Archive - Free for XYPN Members

XY Archive offers a one-stop shop for documenting client communication to satisfy books and records compliance requirements. Email, website, and social media data is collected and easily stored for you. Taking advantage of XY Archive at the start of your firm’s creation will keep your books and records compliant while ticking one more thing off your to-do list.