FINANCIAL ADVISORY FIRMS ARE SWITCHING TO A BUSINESS CLOUD PHONE SYSTEM

voip phone systems for financial advisory firms

In an article for the New York Times, Craig Pfeiffer, CEO of the association representing the investment advisory solutions industry noted that: “the financial advice profession is under pressure to continue to move aggressively from a sales- and product-driven focus to a more comprehensive, advice-driven model delivering a personalized, streamlined experience to investors similar to what is happening in other industries.”

As with disruptive shifts in any field — such as legal, healthcare — some financial advisory firms are successfully navigating this new client-centric landscape, while others are struggling. And it’s not surprising that many firms that see the future as filled with opportunities to embrace vs. obstacles to avoid have made the switch to cloud service.

Here are the key reasons why financial advisory firms of all sizes — from small boutique operations to large enterprises — have switched to a business cloud phone system, and their only regret is that they didn’t do it sooner:

Communicate Across Multiple Channels

Unlike conventional phone systems that must run on a separate — and costly to maintain — voice network, a business cloud phone system leverages an existing data network. As a result, financial advisors can connect with clients through voice, web chat, video chat, and fax. Clients have the freedom and power to choose the communication channel that suits them best.

Re-Inventing Call Transfer

It’s common for clients to call one office to speak with an advisor, only to find out that he or she is at another location. With a conventional phone system, clients in this situation are forced to leave a message and wait for a call back, or hang up and dial the other location (and hope that they don’t continue getting bounced around). But with a business cloud phone system, clients can be seamlessly transferred to any other location in a matter of seconds. At first glance this may seem like a minor benefit, but make no mistake: it’s a big deal to clients, and over time can give them ample incentive to either stick with an advisory firm or head to a different — and more accessible — competitor.

Greater Responsiveness

Even financial advisory firms with a single location typically have employees roaming across the office throughout the day engaged in meetings, conferences, and so on. A business cloud phone system supports total mobility by enabling employees to receive and send calls (along with instant messages) using their smart phone. What’s more, outgoing calls display the firm’s caller ID, not the employee’s personal information.

Data and CRM Integration

Because a cloud phone system is a truly digital solution, it is fundamentally designed to integrate with other solutions in the environment, such as CRMs, billing software, and so on. As such, financial advisors can immediately access a wealth of client-specific information simply based on the incoming call number, and deliver a more personalized and impressive level of service.

Compliance, Record Keeping and Security

Clients expect and demand that financial advisory firms meet all prevailing compliance, record keeping and security requirements. A business cloud phone system helps meet the core objective safeguarding all communications with robust enterprise-grade security, and providing options for recording calls and generating a wealth of analytics data for training, quality assurance and auditing purposes.

To learn more about how your financial advisory firm can reap the rewards of a business cloud phone system contact the Carolina Digital Phone team today at (336) 544-4000. Your consultation with us is free!

Over 20 Years Of Service
Our Customers Love Us!

Robin Jones
Robin Jones
February 3, 2021.
Verified
Awesome service, quick resolve of issue the company I work for was having that day with our phones. All good things to say!!
Michael Durdin
Michael Durdin
January 6, 2021.
Verified
We love our VOIP phone system from Carolina Digital Phone. The product works like it should and the features are fantastic and easy to use. Also, tech support is top notch. I can't say enough good things about the staff and how quickly they are able to resolve any issues we have had while getting everything up and running. 5 star company!
Jeff Hyde
Jeff Hyde
January 4, 2021.
Verified
Our Company has been using Carolina Digital for the last 10 years, before it was Carolina Digital. Great folks, terrific service and we save money every month.
Lisa Nethery
Lisa Nethery
December 18, 2020.
Verified
Love working with this team of professionals. They are always pleasant to talk too. Eric and Matt are top notch in support and always willing to help with any issue you have!
Karen Fentress
Karen Fentress
November 25, 2020.
Verified
Great, fast, friendly service!
Sylvia Wilson
Sylvia Wilson
October 26, 2020.
Verified
The recordings were down for about a week. Eric Lyon had our issue resolved immediately. We are always very satisfied with Carolina Digital!
Luke Phillips
Luke Phillips
August 26, 2020.
Verified
Awesome support in the migration of our services. Tech and sales support like no other.
South Square Chiropractic
South Square Chiropractic
August 25, 2020.
Verified
Our switchover to Carolina Digital Phone went well. The technical components of their service have been excellent, and support is readily available when questions arise. Highly recommended.