Editor’s note: this guest post is from Vito Grammatico, founder and CEO of TimeLyft. He demonstrated TimeLyft’s integration with Redtail CRM in a recent webinar, a replay of which can be viewed here.

Five Ways that Time Management Software Increases Advisor Revenue

Time management is one of the most important factors for success as a financial advisor. There is only so much time that can be allocated to each business activity and client, so how you plan your day is crucial to ongoing profitability. With this in mind, the use of time management software can help advisors understand and improve time usage, leading to a more successful business. It can be a game changer for financial advisors, as it allows an in-depth analysis of business activity and client profitability. Here are five ways that time management software increases advisor revenue:

1. Service Model Optimization
   It is crucial to have an established service model for client contact and tasks. Your current service model may seem fine, but not until you see the impact on hourly profitability can you optimize it to increase revenue. Time management software will show the time spent on each client monthly, as well as hourly profitability for each client.
2. Capacity Analysis
   Time management software helps advisors plan their growth strategy. They can analyze how much capacity they have for growth based on current time utilization and use this to find efficiencies. Comparing your time usage to your monthly availability will highlight if you have capacity for further growth.
3. Client Analysis
   Some clients may take more of your time than others, and this can take time away from other clients and business development. You can use time management software to track time spent with each client and compare this to your overall business activity.
4. Business Development
   How effective is your business development? Advisors can compare the time they spend on prospecting to the number of clients they acquire monthly.
5. Advisor Feedback
   If you own a financial advisory firm or manage advisors, it is important to understand your advisors’ time usage and performance. You can use time management software to compare advisors’ time usage on your team. You can instantly determine areas where advisors are struggling and give them guidance to improve. If you are an advisor looking for feedback on your own performance, then time management software also offers a great way to analyze your performance and improve each month.

These are just a few of the many benefits for advisors to integrate time management software into their business planning and daily activity. Time management is the key to avoiding burnout and providing the best service to clients. Often it is not until we visualize the ongoing usage of our time that we can truly make impactful changes and understand the service requirements for each client.  Time management software is a great way to accomplish this.  New users can sign up for a one-month free trial of TimeLyft’s time management software. Please visit www.timelyft.com.

0949-OAT-4/4/2023

ABOUT this webinar
Topic: Tracking Time Spent on Clients with TimeLyft and Redtail CRM
Description: As an advisor, it is important to know how much time is being allocated to your clients. Come learn how to track your time using TimeLyft. We will share best practices on how to track time spent on contacts as well as on retrieving that data from Redtail CRM using our shared integration.

TimeLyft offers Time & Productivity Management Software For Advisors and Firms.

In November of 2022, our Building Your Tech Stack webinar series will focus on partners in the Advisor Tools and Marketing categories. A description of each partner category along with the partner(s) we focus on in our webinars this month is below.

Advisor Tools

Not all software fits neatly into a traditional fintech category such as financial planning, CRM, investment research, etc. Partners included in the Advisor Tools category may offer advisors anything from AI-based relationship mapping to streamlined meeting prep to student loan analysis to automated scheduling reminders to a host of other functions. Regardless of the function of an advisor tool, integration with your CRM means you are boosting the efficiencies, accuracy, and/or effectiveness of your day-to-day operations.

In a November 15th Building Your Tech Stack webinar with TimeLyft, we’ll be considering the below:

Tracking Time Spent on Clients with TimeLyft and Redtail CRM

As an advisor, it is important to know how much time is being allocated to your clients. Come learn how to track your time using TimeLyft. We will share best practices on how to track time spent on contacts as well as on retrieving that data from Redtail CRM using our shared integration.

TimeLyft offers Time & Productivity Management Software For Advisors and Firms.

Register now for this webinar on November 15th at 10:00 am Pacific.

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Marketing software

Marketing software is available to assist you with getting your marketing messaging out, regardless of the channel you are hoping to share your message in. There are website-building platforms; email marketing solutions; digital marketing platforms; social media monitoring, scheduling, and engagement software; lead capture software; tools for producing podcasts; and the list could go on and on and on. The bottom line is you have a message to share, and there are solutions available to assist you with sharing it in the right time at the right place.

Integrating each of your marketing tools with Redtail CRM means you will likely be able to streamline many of the steps commonly associated with getting your marketing message out to your clients and prospects.

In a November 9th webinar with Orion, our topic is:

Introducing Redtail Campaigns: Your Virtual Marketer Backed by the Industry’s Best CRM

Introducing Redtail Campaigns, the industry’s first CRM-centric advisor marketing suite.

Join Jake Leise, Director, OrionProspect, and Ricky Williamson, Director of Training at Redtail, for the first look at this industry-leading marketing platform tool made for financial advisors. Redtail Campaigns builds upon Orion’s legacy Market*r tool, empowering advisors and firms to drive new business and deepen client relationships through hyper-personalized marketing campaigns launched right from their CRM dashboard.

Together, Orion and Redtail are transforming the way advisors grow their business through a cohesive, tech-driven experience designed to connect every stage of the advisor-client journey.

Register now for this webinar on November 9 at 11:00 am Pacific.

 

In a November 22nd Building Your Tech Stack webinar with AdvisorStream, our topic is:

How to Drive Growth with AdvisorStream’s Scroll-Stopping Marketing

Join Redtail & AdvisorStream to learn how to drive clicks into clients with world-class content marketing.

In this session you will learn how to:
• Stand out with timely investor-focused communications
• Spark conversations with highly engaging and personalized content
• Save time with powerful automations and integrations with Redtail
• Uncover AUM with AI-powered insights about clients and prospects

Register now for this webinar on November 22 at 10:00 am Pacific.

 

 

2018-OAT-10/25/2022

TimeLyft: “TimeLyft’s Time & Productivity Management software helps Financial Advisors, as well as other client-based businesses, track time with clients to scale their business and improve performance.”

ABOUT TimeLyft “TimeLyft’s Time & Productivity Management app helps financial advisors increase revenue, improve client profitability, and improve their work/life balance. Use our software to visualize your business activity and client profitability. Monitor your progress as you work towards improving work life-balance and income. Benefits of using our software include:

Increase Revenue: How profitable is your service model? How productive are you? Self-awareness and monitoring are crucial to improving performance.

Improved Work/Life Balance: What is your capacity level? Are you putting in too many hours for minimal results? Monitor your work activity and use TimeLyft’s Insights to guide your growth.

Easy to Use Interface and Quick Input: Import data from software you use daily to import any business related activity. It just takes one click.“

WHAT ARE THE INTEGRATION POINTS BETWEEN TIMELYFT AND REDTAIL CRM? 

Integration points include the ability to import contacts along with any tasks linked to a contact from Redtail CRM into TimeLyft for a time analysis.

DETAILS ON INTEGRATION SETUP AND USAGE Redtail’s documentation on this new integration is available here.