How to Make Your Business More Customer-Centric: Using Automation to Fill Financial Forms

  • iPipeline

As a financial services professional, clients come to you looking for a professional experience. They expect you to be organized and precise – especially if you are handling their financial futures.

But do you have the tools you need to give your clients the experience they want?

Filling out financial forms is an essential part of working with clients, but how you complete this task heavily influences the way customers view their overall experience with you. Manually filling out financial forms is a time-consuming task. In fact, advisors report spending 50% of their time completing back-office tasks like filling and processing forms.

Advisors report spending 50% of a typical 53 hour work week completing back-office tasks.

Not only is the process time-consuming, but it is also tedious. Mistakes are easy to make and hard to correct. Spending valuable time with a client to manually fill out forms or wasting a client’s time with forms that are not up-to-date makes you look unprofessional — and makes your clients frustrated.

With automated financial forms filling, you can skip the frustration, get your time back, and give your clients the customer-centric experience they seek.

Financial forms filling solutions automatically pre-populate form fields based on client data. By integrating with your CRM, these solutions ensure that the data going into the forms is correct, which reduces “not in good order” (NiGO) transactions. With an automated solution, you can have client forms ready to go before the client walks into your office, and because the forms are filled out digitally, you can further streamline the process by utilizing e-Signature integrations.

Using an automated solution to fill financial forms speeds up the process, while simultaneously ensuring greater accuracy. By making sure you get the forms right — the first time — you help ensure the client experience is as fast and easy as possible – which is exactly what a customer-centric business does.

By simplifying the process, you can spend more time with your clients engaging in higher-value tasks, such as creating a financial plan. If you want to get out of the forms business and back into advising your clients, check out the automated financial forms solutions that are on the market today.

To make the process easier, we have compiled some questions you should ask when looking for a forms filling solution:

  1. Is there a centralized location for all forms?
  2. Does the solution ensure its forms library remains current?
  3. Can you service multiple accounts in a single transaction?
  4. Does the solution integrate with your CRM?
  5. Does the solution integrate with e-Signature solutions?

For reference, this is how we answer these questions for our iPipeline forms filling solution, Laser App.

  1. Laser App is a one-stop shop, with access to more than 33,000 forms – all in one central location.
  2. We maintain relationships with the carriers and fund companies whose forms are included in our library – allowing us to ensure that our forms are up-to-date.
  3. Laser App allows you to service multiple accounts in a single transaction.
  4. Laser App integrates with 30+ CRMs, including Redtail Technology, Salesforce, and Wealthbox CRM.
  5. Laser App seamlessly integrates with several e-Signature solutions, and due to our relationships with carriers and fund companies, Laser App is able to code approved signature fields within the forms library.

Regardless of what solution you choose, using an automated solution to fill financial forms provides you with an opportunity to get out of the paperwork business and back to serving your clients. Your clients will appreciate the ease and speed of doing business with you, and your business will benefit from the professional reputation you earn.

To find out more about using an automated solution to fill financial forms, or to learn more about Laser App, click here.

About the Author

Robert “Bobby” Powell spent 15 years at Laser App as the Vice President of Sales & Marketing. In 2017, Bobby joined iPipeline through the acquisition of Laser App.

Bobby currently serves as Vice President of Wealth Management Sales, leading iPipeline’s Wealth Management and Insurance distribution sales teams.

In his free time, Bobby takes his family camping, hiking, fishing, to Dodger games, and to every other outdoor activity involving sunshine.