ByAllAccounts, Inc., the financial advisors’ choice for account aggregation, today released results from a nationwide survey of financial advisors, revealing that while tablets are quickly becoming the norm and advisors are experiencing productivity increases, they are not yet utilizing them to their fullest potential.
ByAllAccounts, Inc., the financial advisors’ choice for account aggregation, today released results from a nationwide survey of financial advisors, revealing that while tablets are quickly becoming the norm and advisors are experiencing productivity increases, they are not yet utilizing them to their fullest potential. According to the survey over 40 percent of financial professionals surveyed have a tablet computer, with the majority acquired within the last three months. For an executive summary of the survey visit http://discover.byallaccounts.com/TechGadgetSurvey.html.
“Many advisors are experimenting with tablet computers and applications to enhance their businesses efficiency and get news and stock market updates,” said Cynthia Stephens, vice president of marketing at ByAllAccounts. “Over time I would expect to see growth in the number of advisors also using them to enhance interactions with clients and potential clients.”
In the survey 77 percent of respondents said the iPad® is an Extremely Useful or Useful tool for financial advisors.
“For our sales team that travels regularly over three time zones, the iPad has made a huge difference in terms of how we communicate and keep productivity at its highest,” shared Frank Reilly, President, Reilly Financial Advisors, LLC. “In the last few months I have seen an increase in productivity that is incredible. Whether we are scheduling appointments via our exchange server between meetings or using our CRM app to instantly obtain critical client information, we have found that everything is easier on an iPad. Personally, I don’t know how we conducted business without it.”
An overwhelming number of advisors using an iPad attributed increases in business productivity to it. In addition, the top reasons respondents gave for how the iPad and its applications supported their businesses were:
- stayed connected while out of the office (83.7 percent);
- accessed business applicable educational material (59.8 percent);
- enhanced client meetings (50.0 percent);
- helped move to a paperless office (52.2 percent); and
- increased responsiveness to clients (48.9 percent).
About the survey
ByAllAccounts conducted a national survey of financial advisors in April and May 2011 about their use of consumer electronic devices. The findings presented are based on aggregated responses from more than 250 advisors. Approximately 44 percent of respondents were registered investment advisors, over 11 percent were with a full service broker dealer/wirehouse and 14 percent were affiliated with an independent broker dealer.
To download an executive summary of the ByAllAccounts survey, please visit http://discover.byallaccounts.com/TechGadgetSurvey.html
About ByAllAccounts, Inc.
ByAllAccounts, the financial advisors’ choice for account aggregation since 1999, is the only service that retrieves, enriches and consolidates reconciliation-ready account data from any custodian. ByAllAccounts’ patented aggregation engine, through which hundreds of billions in assets flow daily, aggregates all client account data - from any source - within an advisor’s wealth management platform or trust accounting system for a truly comprehensive view. Thousands of advisors rely on ByAllAccounts to save administrative time and costs, mitigate risk associated with having incomplete information and grow revenues through client referrals and new business development. ByAllAccounts integrates seamlessly with all of the most popular wealth management platforms. For more information, visit www.byallaccounts.com.
ByAllAccounts and S.M.A.R.T. Decisions are trademarks of ByAllAccounts Inc. iPad is a registered trademark of Apple, Inc. All other trademarks and registered trademarks are property of their respective owners.
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