Do you remember the days when managing your retirement and investment accounts meant endless phone calls, in-person meetings, and waiting for paper statements to arrive via snail mail? It wasn’t that long ago, but thanks to today’s technology, people can now manage their money with the tap of a finger. Online platforms let people track investments and adjust retirement plans anytime, anywhere (no fax machines, postage stamps or getting on the horn required).
The old-fashioned ways just don’t cut it for today’s retirement needs. People are facing more risks, choices, and complexity than ever before, and they need a clearer picture of their retirement reality and guidance on how to navigate the ever-changing retirement landscape.
Are you taking advantage of the following ways the digital transformation has made retirement planning and wealth management faster, easier and more personal?
Professional Reporting in an Instant
Technology now offers investors 24/7 online access to their account information, making it easier than ever to stay on top of their financial situation. Beyond just checking balances, they can run professional-quality proposals and generate custom reports on holdings, transactions, performance, and more, all at the click of a mouse. This instant access not only empowers investors to make informed decisions but also provides them with the flexibility to adjust their strategies in real-time, ensuring their portfolios are always aligned with their evolving financial goals.
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Collaboration & Communication With Financial Professionals
Interestingly, technology isn’t distancing the relationship between financial professionals and their clients; it’s bringing them closer together.
Many financial professionals use technology tools to bring themselves and their clients to the same side of the table, promoting collaboration and transparency in their planning process.
Through advanced algorithms and artificial intelligence, financial planning platforms transform complex concepts into easily understandable numbers and visuals, giving clients an engaging and personalized planning experience. Platforms are able to quickly identify potential income gaps, assess and address risks, simulate different market environments, and let financial professionals and their clients explore solutions by test-driving pre-modeled products within the client’s portfolio.
In addition, digital tools improve communication between clients and financial professionals. Video conferencing, secure messaging, and shared digital workspaces make it easier for investors to stay connected with their advisors. This constant communication ensures that clients receive timely advice and can make adjustments to their financial plans as needed.
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Automated Investment Management
Automation has transformed wealth management by employing algorithms to manage investments in alignment with user preferences and prevailing market conditions. This helps reduce the time and effort traditionally associated with manual investment management, while also minimizing the risk of human error. Additionally, automated systems continuously monitor and rebalance portfolios, ensuring they remain optimized for performance and providing investors with peace of mind.
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Financial Education & Literacy
While personal finance books, publications, and seminars still have their place, investors now also have access to digital platforms that offer a wealth of educational resources.
Articles, videos, webinars, and interactive tools are designed to improve users’ understanding of financial concepts. By increasing financial literacy, these platforms empower individuals to take control of their financial future and make more informed decisions about their retirement and wealth management.
Bankers Life Has Tools and Technology to Help You Retire With Confidence
At Bankers Life, we combine old-fashioned service with powerful tools and technology to evaluate your financial plan. Our cutting-edge tools can turn the complexities of investing, budgeting and income planning into easily understandable numbers and visuals, so you can quickly assess the risks and shortfalls of your plan. Once we have a clear picture of your portfolio, we can work together to make adjustments that will help you retire with confidence.
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We’re Here for You
Bankers Life is here to help customers with their financial and insurance needs so please visit us at BankersLife.com to learn more.
