Digital Vaults Empowering the Remote Financial Advisor

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Times change. Twenty years ago, the idea of working from home was almost unheard of in wealth management, with most finance professionals preferring the traditional face-to-face model. Changing times and as of late concerns over the coronavirus, financial advisors more than ever are choosing to work remotely.

That shift will only accelerate a trend that’s been increasing over the past few years. A 2018 study found that 70% of professionals worldwide work from home at least once a week. More recent numbers underscore that trend. According to a recent Gallup poll, 43% of employed Americans spend at least some time working from home. Within that group, 31% of professionals who work at least some of the time remotely spend four or five days a week out of the office.

That number is sure to grow in the weeks, months, and years to come. For one thing, the next generation of professionals is already fully immersed in remote work, with nearly half of all millennial professionals working as freelancers.

Societal changes also have a way of sticking. Combine an organic upswing in remote financial advisors with the vast army of young freelancers and the widespread changes happening due to the coronavirus, and many companies might decide not to go back to the old ways. It’s thus likely that we’ll see a more significant percentage of professionals working from home more often than once a week, up to and including full time.

Health concerns aside, remote work offers numerous benefits for financial advisors. First, it eliminates commuting time, giving you more time to focus on the projects at hand. Second, it offers a more flexible lifestyle. When you’re not in an office for eight hours a day or more, you can focus on work and also other elements of your life that matter to you. Though many wealth management professionals are still inclined to believe the client suffers from a lack of in-person meetings, the opposite could hold true. Remote financial advisors can be more productive, and less time on the road means more time with clients via video conferencing software.

Digital Vaults help the transition to remote work for financial advisors effortlessly.

Today, the wide array of readily available digital tools for financial advisors make working remotely easy, or at least easier than it’s ever been. From CRMs and Portfolio Management tools the various communication tools that make collaboration seamless. Equally as important for the back office, front office, and clients alike, is having an accessible, centralized, and secure platform to manage information and important documents—a Digital Vault.

A Digital Vault works like an online safety deposit box. It allows you to access and manage corporate messaging, advisor and front office communications, and your client’s important information. As befitting its name, a Digital Vault provides airtight security for your client’s documents.

That’s music to the ears of financial advisors.

With Digital Vault technology, there’s no need to be in the office to handle your clients’ vital information, since it’s already securely stored in one central platform, accessible at any time and anywhere.

In addition to the security and convenience offered by Digital Vaults, they also make it far easier to organize, manage, and find the documents you need, often in just seconds. Digital Vaults are powerful collaborative tools powered by AI and machine learning that allow you to manage all of your clients’ vital documents, quickly and easily.

FutureVault, the industry-leading Digital Vault, provides institutions and financial service providers the convenient, secure, digital document management platform they need. FutureVault offers powerful automated worflows through e-signature and DocuSign integrations, an automated checklist feature, and an AI-powered search platform, all of which combine to make remote collaboration for the wealth management professional a breeze.

Know with confidence your financial advisors are armed with the latest digital collaboration tools.

Enhance your clients’ security perimeter: Move digital documents from email attachments, personal hardware, and less structured online storage locations to one securely encrypted Digital Vault.

Quickly search and retrieve documents: Easily search, retrieve, and share documents with FutureVault’s advanced OCR and indexing algorithms.

Improve document workflows: Speed up business processes, improve workflow collaboration, and get signatures anytime and anywhere with FutureVault’s official electronic signature partner DocuSign.

Simplify document intake: Create and manage digital document checklists and improve efficiencies around specific business outcomes through automation with FutureVault’s Dynamic Checklist feature.

Centralize corporate communications: Ensure all corporate documents, onboarding forms, how-to guides, and templates for your team are up to date, centrally located, and easily accessible via the cloud with FutureVault’s Global Folders feature.

Better compliance risk: Track all activities by all VaultHolders & Trusted Advisors in real-time in your clients’ Digital Vaults with advanced activity-tracking logs and complete fiduciary audit trails.

Reduce your carbon footprint: Lower your energy demands and cut costs associated with legacy paper processes and take advantage of the greenness of the cloud with FutureVault, the future of information management.

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