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Successfully leverage technology to grow your advisory firm

December 19, 2022
clock 4 MIN READ

I talk to many advisors who are confident in their client services but are unsure of themselves when it comes to technology. Our guest blogger, Chris Field, Chief Growth Officer at Holistiplan, explains how advisors can build a tech stack that saves time and improves processes. – Shauna Mace

The financial technology (fintech) industry has exploded in recent years. It’s estimated that in 2022, fintech is worth around $180 billion1—nearly double where it was just five years ago.

With so much software available to advisors today, using technology to grow your practice has become a necessity, not just an option. In fact, neglecting to leverage today’s top tools could cost your firm. A recent study2 found that advisors who embrace technology actually outperform those who stick to the more traditional route. On average, tech-savvy advisors grew their client list by 5% and their assets under management by up to 10% more than traditional advisors.

But as you continue adding new tech to your lineup, it’s easy to lose sight of the kind of firm you want to run. Rather than chasing the latest tool, consider what type of tech will best help you provide an elevated client experience while putting more time back in your day.

Where is your presence and attention needed most?

For most advisors, it’s when you’re meeting one-on-one with clients.

Your tech stack is there to save you time and improve efficiency anywhere that your input is not essential. Data entry, prospecting emails, appointment scheduling—all can be streamlined and automated using available technology. Taking menial jobs off your to-do list allows you to spend more time on things where your input adds the most value, such as building client relationships, networking with COIs, and growing your firm.

How to leverage technology to improve your practice

Ask yourself this, “what parts of my job could be done 90% by a computer, as long as I execute the last bit?”

You may be surprised by the answer. More and more tech-savvy advisors are relying heavily on the latest tech tools and platforms to perform the technical aspects of their job (including planning).

Take tax planning, for example. When tax planning from scratch, it’s an incredibly time-consuming process—but there’s no reason why it needs to be that way.

That’s why we created Holistiplan, a tech tool designed to take the heavy-lifting of tax planning off your plate. After uploading a single tax return, Holistiplan automatically creates multiple client deliverables in the form of complete white-label reports. This includes crucial tax planning recommendations like our new Roth Explainer.

Once you have the custom reports in hand, take it across the finish line by putting all the info into context during your next client meeting or email.

We also created a year-end tax planning checklist. Featured in the Growth Lab, you can use this tool to uncover year-end tax planning opportunities and resources, as well as actions you can take to deliver tax-planning value to your clients.

Tech solutions like Holistiplan help advisors automate the technical aspects of tax planning so they can turn their attention on what matters most—providing an excellent client experience.

Interested in seeing how Holistiplan fits into your tech stack? Give our tax planning software a try now with a free 7-day trial on us.


1"Fintench | On the brink of further disruption," Deloitte,

2"3 Ways Financial Advisors Are Using Technology To Better Serve You", Forbes,

Neither SEI nor its subsidiaries provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.

The opinions and views expressed herein are those of Chris Field. SEI bears no responsibility for their accuracy. Chris Field and Holistiplan are not affiliated with SEI or its subsidiaries.

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