For a second year, we exhibited at the 2019 Financial Industry Regulatory Authority (FINRA) conference this past month. The organization’s annual conference is an opportunity for professionals working in financial services to network, keep abreast of the latest trends in financial technology (FinTech), as well as learn about proposed rulings and best practices.
One panel discussion particularly of interest, Effective Documentation Practices for Financial Advisors, addressed the work my team and I engage in daily; helping individual professionals and organizations leverage smart-tools to drive productivity, maintain compliance, and improve customer engagement.
In addition to familiar themes FINRA addresses about compliance, such as the importance of capturing required information, disclosures, and forms to onboard new clients, the panel also spoke of documenting in real-time to capture more detailed reporting, and the importance of ensuring client/advisor communications take place through firm-approved platforms.
These themes all resonate with us, as evidenced by the results of our Role of Technology in Financial Documentation survey, which was administered to over 63,000 financial professionals. The survey tracks how financial advisors are using automated solutions to improve how they work.
One key finding from our survey that mirrors the discussions we conducted on the exhibit hall floor: financial advisors see that the use of automated tools will help them address back-office tasks like compliance, which FINRA primarily focuses on, but also customer-facing activities, such as client service. I invite you to download the infographic to learn more.
Participating at conferences such as 2019 FINRA always reminds me of the great opportunity for my team and I to listen, learn and share.