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How to Run Your Entire Firm with Practifi


In today’s world, there’s no shortage of technology platforms for teams within wealth management firms. From financial planning software to marketing automation tools, and compliance systems to client portals—there’s a solution out there for every employee in your firm. 

But when it comes to providing great client service through cross-functional collaboration, using a variety of disparate systems can present its challenges. Data can get lost or siloed in separate systems, tasks and activities can become difficult to track, and your communication to clients will suffer as a result.

One way to avoid this is to use a well-integrated platform designed specifically for financial services. Platforms like Practifi are built with wealth management teams needs in mind. By bringing together your most important client information and cross-functional processes into one system, you’ll not only be able to scale sustainably but also build better client relationships.

Unlock a curated experience for each team

Whether you’re in advisory services, client services, marketing or management, Practifi provides a curated experience based on each team’s needs. With role-based apps that bring to life each user’s daily tasks, upcoming meetings, and outstanding client items, it’s easy to know what’s due that day and quickly follow up on deliverables. 

For example, advisors and account managers can not only keep track of important client information such as upcoming annual reviews, RMDs and birthdays, but they can also easily view household AUM, client entities and which services and processes are active for each account. In addition, marketing teams can monitor and execute campaign strategies directly from Practifi, as well as report on key performance metrics. 

Bringing it all together, management teams have access to firm-wide information and can drill down into division, team and user performance. By using detailed reports and goal-oriented dashboards, leadership has all of the information they need at their fingertips to make informed business decisions.

Streamline cross-functional collaboration

Have you ever been in a situation where you were supporting an important client project, such as a client review or a money transfer, and you missed an update from the client because you weren’t in the correct email thread? Some important client updates shouldn’t be hidden in siloed emails. This particularly becomes a problem when staff leave and the rest of the firm no longer has access to critical client information. Gone are the days of living in our inboxes.

If your cross-functional teams are struggling with communication and important client updates are falling through the cracks, it may be time to consider an alternative solution. Practifi streamlines team collaboration by enabling team members to keep all important client mentions and notes directly on the client record. With Practifi’s client feed you can @mention team members, attach important documents and notes, and eliminate the need for internal emails altogether.

Easily track client interactions and activities

As your firm grows, so will the complexity of your business processes. By providing more services to clients, additional teams will be involved, and specific client emails and meetings will become more difficult to track. It’s crucial to keep track of client interactions not only for compliance purposes, but also so teams know who is driving specific services and processes for clients.

Practifi makes it easy to track all client interactions directly on the client record with a real-time activity timeline. View backdated calls, meetings and emails to increase team transparency and to help your entire firm provide a consistent client experience.

The only platform you need to run your entire firm

While there’s no shortage of technology options for teams within wealth management firms, using a variety of disparate systems can present its challenges when you’re ready to scale. 

By providing a curated experience for each team’s needs, streamlining cross-functional collaboration and making it easy to track client interactions across the entire firm, Practifi makes it possible to run your entire firm in one well-integrated system.

To learn how Practifi can become the center of your firm, book some time with a member of our team today. And if you’re interested in learning more about platform, you can check out additional features here.

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