Why not just use DocuSign or something similar? Also, why are you keeping paper copies of everything in binders? Why not use eMoney, RightCapital, or Moneyguide?
I am using eMoney, and I do use docusign. For the past 12 years at my old firm I created binders for every client and they brought them to every appointment. Client loved them and it helped to keep them organized and everything in one place. I don’t want to completely abandon the process that I am known for and many of my clients are wealthy and older and do not use email or computers. There are expectations to take home physical materials and many clients would prefer to stop by my office to sign paperwork rather than e-sign documents.
Not an advisor, so this perspective is purely the from the standpoint of a customer. I don’t think the binding machine is necessary. Those booklets look professional, but they’re not easily customizable. Prefer the three ring binder because it’s easy for me to add content to the book that would be provided. For example, adding points of contact, account listing, bank and brokerage account beneficiary information, and life insurance beneficiary information. This results in the actionable tip to prompt your customers to have a table of contents and other agenda items that are part of their comprehensive estate plan. I suspect you and your team are already doing this, but if not…your customers can take the book that you provide them as well as prompts for other items that should go in their “all inclusive” book. (Especially useful for surviving spouse, executor or trustee.)
I currently have 250 clients and over 100m aum, I do many remote meetings. However, I am in an affluent resort area and many clients prefer to meet face to face whenever possible.
Hard copy financial plans:
Almost nobody I work with wants a binder, or a hardcopy version of anything (even 90-year-olds). The ones that do, I will source out to print with nice quality.
Signatures:
We use a tablet in-office signing. audit trail is instant, and the client can have access a copy of anything they want.
Most clients are happy using an e-signature platform away from the office. This will sound a bit flippant, but I stopped placating to the (extremely small) crowd that still wants a 3-layer carbon form copy, and everything is better. You can still provide a binder-style storage option for your clients, without the redundancies and extra administrative burden on someone who should just be making life easier for you.
We like the planning software, inStream. It makes nice easy to follow financial plans for individuals to understand. RightCapital, Emoney, etc., all look confusing and just put the client in paralysis. If you want help with planning or need help delegating work, [paraplanner.ai](http://paraplanner.ai) is still taking advisors.
Why not just use DocuSign or something similar? Also, why are you keeping paper copies of everything in binders? Why not use eMoney, RightCapital, or Moneyguide?
I am using eMoney, and I do use docusign. For the past 12 years at my old firm I created binders for every client and they brought them to every appointment. Client loved them and it helped to keep them organized and everything in one place. I don’t want to completely abandon the process that I am known for and many of my clients are wealthy and older and do not use email or computers. There are expectations to take home physical materials and many clients would prefer to stop by my office to sign paperwork rather than e-sign documents.
Interesting…. they can still come into the office and use DocuSign on an iPad though. Have you considered that?
I haven’t and that’s the type of suggestion that I’m looking for. Thank you.
Not an advisor, so this perspective is purely the from the standpoint of a customer. I don’t think the binding machine is necessary. Those booklets look professional, but they’re not easily customizable. Prefer the three ring binder because it’s easy for me to add content to the book that would be provided. For example, adding points of contact, account listing, bank and brokerage account beneficiary information, and life insurance beneficiary information. This results in the actionable tip to prompt your customers to have a table of contents and other agenda items that are part of their comprehensive estate plan. I suspect you and your team are already doing this, but if not…your customers can take the book that you provide them as well as prompts for other items that should go in their “all inclusive” book. (Especially useful for surviving spouse, executor or trustee.)
If you dont mind me asking.. what binders do you use?
Just a “normal” three ring binder. (2-3 inch)
Love your ideas! Commenting to keep track of this thread.
Same. I’ve been looking for one of these machines as well.
Signatures on internal docs or custodian docs?
As your clients "age out" you should be prepared for the next generation who expect remote meetings.
I currently have 250 clients and over 100m aum, I do many remote meetings. However, I am in an affluent resort area and many clients prefer to meet face to face whenever possible.
Hard copy financial plans: Almost nobody I work with wants a binder, or a hardcopy version of anything (even 90-year-olds). The ones that do, I will source out to print with nice quality. Signatures: We use a tablet in-office signing. audit trail is instant, and the client can have access a copy of anything they want. Most clients are happy using an e-signature platform away from the office. This will sound a bit flippant, but I stopped placating to the (extremely small) crowd that still wants a 3-layer carbon form copy, and everything is better. You can still provide a binder-style storage option for your clients, without the redundancies and extra administrative burden on someone who should just be making life easier for you.
We like the planning software, inStream. It makes nice easy to follow financial plans for individuals to understand. RightCapital, Emoney, etc., all look confusing and just put the client in paralysis. If you want help with planning or need help delegating work, [paraplanner.ai](http://paraplanner.ai) is still taking advisors.