The most important technology for financial advisors

When I ask financial advisors, what I the most important piece of technology they use, they rarely come up with the answer I am looking for. This technology can transform a practice from struggling to success in a very short time. Everyone has their opinion on what the best use of technology in their practice is. After all, being a practice management specialist, I talk about technology every day. So what is the most important piece of technology for financial advisors? It is your phone's voice recorder.

Why is the voice recorder the most important technology?
When was the last time you recorded yourself and listened back to self-coach yourself? So here is an idea that can transform your business, your client meetings, and your outlook. It is recording your conversations with ideal clients and prospects, with full disclosure of course. But before you go crazy with this crazy idea, consider this idea first. Grab an associate, or an assistant and practice with them a practice run. Having a meeting with a colleague or associate to practice your interview skills first, and record it. Then listen to it.

Two things will happen when you listen to the recording
First, you will hear how your interview or meeting questions sound listening to it. Are they compelling and emotional, or dull and boring? Second, are you listening to the other person's story that they are telling? To measure your own discussion dynamics, using a voice recorder is an amazing strategy to understand your style and to perfect your questioning skills.

Instead of writing pages of notes and missing parts of the story, you will become a more empathetic, and engaging communicator. All you have to do is practice with people you are comfortable with, in order to improve.


How to ace a prospect interview
Using a voice recorder on your cell phone will help you capture more, which will allow you to be completely present and not having to worry about what you have to write down and record. Do it once, and you will see an improvement. Practice before your biggest meetings, and you will start to improve. Eventually doing it with ideal prospects, and your meetings will transform. It takes guts to do it with a live prospect, so practice with a colleague first.

Using a voice recorder app
You can record, store and manage your practice recordings to help you do self-coaching for improvement. Once you use it with a prospect, you will want to listen to their story, so you understand them completely. After all, people do business with you because you deeply understand them, and where they are going. You can’t believe the difference between notes and a recording when it comes to planning their future. Always get their permission, and compliance approval of course before doing it with prospects, and eventually clients. Making sure the security of conversations is also in place with your firm. Some software can also transcribe audio to text. Ask your doctor what they use.

Steps to success
First, find your voice recorder on your cell phone. Then do a test recording to make sure you are using the recorder properly, and practicing your potential ideal client interview questions. Listen to the recording and self-coach yourself. Practice, practice practice. This simple task will help you improve your ideal client acquisition process. Now use the best technology to start improving today!

If you want to practice your client interview skills, email me at