Inspiring clients to embrace technology - Sequoia

Submitted by Dan.Benson on March 11, 2020

The use of technology really fits into our business strategy to allow us to maximize the efficiency of every individual in our firm. We've spent a lot of time and effort making sure that each person has the tools or resources they need to do their job as efficiently as possible. Driving change could be difficult. We've seen a change from one program to another be very successful when we've continued to put the information in front of them of how to adopt this new technology, to train people and remind them of the multiple ways they have to benefit their clients, which usually pushes their adoption forward. 

Our firm is very CRM-centric. It allows us to remain very transparent between the different teammates, between the different departments, and, ultimately, getting clients the answers that they're looking for fast. Our CRM system helped solve the problems we were having with getting work done in an efficient manner the same way every time. Our advisors (We have many.) are all working in different ways. And getting them to do the same thing, to be able to track that, and to be able to do it in the best way possible for our clients is really our goal. 

So, peer networking has been incredibly valuable for our firm. About five years ago, I started an operations network to allow myself and a few other individuals in our firm to connect with other firms across the country. That has been an invaluable experience for our firm. It's connected us to many people that we normally otherwise wouldn't have conversations with on a regular basis. This meeting of the minds, so to speak, has been a great way for us to touch base on different best practices that we've found to be very effective with our firm, as well as hearing from others what have been some of the best practices that they've found in working with their clients.

When we were looking at Tamarac, I reached out to our group to see if that was a technology that would find the benefits that we were looking for. It was great to be able to kind of sift through the different firms and the technologies that they use. We do keep track of who uses which technology. So that allowed us to go directly to the firms using Tamarac and to ask them questions about their usage. And Tamarac allowed us to give the advisors the type of access that they needed on a daily basis and aggregated all of their portfolios together. 

The portal for the clients really gave them a complete picture of all their assets. One of the problems we had before was giving them a resource where they could access information from multiple custodians. And so, investing in that type of technology allowed us to be able to report on all of that information in one spot. The reports they were able to see online, as well as the reports that our advisors provided for meetings, provided the solution to both those that preferred traditional paper, and also for those that would like to go online at any given point in time and see their information. 

Sequoia does a client survey because it allows us to give the information that we receive back to our different departments and to help them implement change for the better of our clients. Our clients definitely feel heard and appreciated when we ask them those questions on a regular basis. It has been our experience that asking the question is half the battle, and being able to get a response back, take that to our team, implement change in the different departments based on the feedback… and that's really helped us drive our client service to the next level.

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