Making the Most of Your Sail Into Summer (Part I)
written by Heather Rivera
For most of our advisors, things begin to slow down a little this time of year which allows us to catch our breath. If that is true for you, the summer months can be a time to emphasize projects you have been pushing off and/or simply have not had the time and focus to implement.
Workflows Make the World Go ‘Round!
…Or more specifically, solid workflows in your CRM ensure that every single client gets amazing service every single time. With an effectively designed workflow, you can set in motion a complicated, multi-tiered process with a single click. And if your workflow is properly automated, the appropriate team members will be notified and reminded when it's time to perform their task(s).
One of the best things about automated workflows is that they free up so much effort and energy. Without a workflow, so much focus is wasted, being chaotically directed at making sure everything gets done in a timely manner, without anything falling through the cracks. A detailed workflow handles all of the organization, allowing you and your team to put all of that considerable effort and talent into a superb client experience.
Here at VOS, we believe that the highest use of technology is to make it so seamless, you forget you're using it at all. From processes as complicated as client prospecting and onboarding to those as simple as sending out a birthday card, workflows are the way to go! Whether you're just getting started with setting up workflows or you'd benefit from an evaluation of your current workflow systems, we’d love to help optimize any workflows for your specific needs.
Beneficiary Designation Updates
Though often overlooked, beneficiary designations are a vital part of estate planning, as they take precedence over marital laws, wills, and court orders. In other words, proper designations will help keep assets from being distributed to an unintended heir. Proper designations may also allow beneficiaries to extend an account’s tax deferred growth, and in many cases, reduce the taxes that are owed. And most importantly for our line of work, correctly established beneficiary designations exponentially reduce the stacks of estate distribution paperwork!
We usually find one of two things upon looking in the CRM: Either clients have primary beneficiaries but no contingents, or beneficiary information is missing on a portion their accounts. If you are unsure as to whether you have complete primary and contingent beneficiary information for each of your clients, let our team cross check that information for you! We'll first contrast the information in your CRM with the data at your custodian, and then get the appropriate beneficiary designation change forms from your custodian to your clients for updates.
Superior Document Management
Are your client data files clean? Do you have the same folder tree for each of your client files? Is the folder access set up so clients and centers of influence can see only what you would like for them to see for the period you would like for them to have access to the information? If you answered no to any of the above, you would benefit from our file cleanup and systematization services. Ask us about migrating all your files, both client and back office into one easy filing tree so that you can locate what you are looking for quickly and efficiently.
Stay tuned for Making the Most of Your Sail into Summer Part II!
We would love to hear from you! Click here to email Heather Rivera, our Director of Operations. Please also feel free to call our office at 954-271-2966.
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