Financial Advisors

Technology with the Human Touch Is Essential For Financial Advisors

Technology tells us that digitizing our lives is smart, efficient, practical -- and yes, it can oftentimes be all of those things. The most important piece of the technology puzzle, however, is the human component that will set you apart and leave the biggest impact with clients.

Even though it’s from 2015, this Investment News article still rings true today:

“A survey of 500 investors who work with a financial advisor found that only 32% of respondents valued financial performance more than a good personal relationship with their advisor ... The emotional relationship between advisors and clients has never been more important than it is today.”

It may sound counterintuitive, but the challenge for advisors is to adopt technology that will be most beneficial in the quest to communicate with clients in the most human way. One of the goals of every client interaction is to strengthen the advisor-client relationship. To effectively accomplish this, the right combination of technology and the human touch is essential. 

Documentation is an integral component of successful advisor-client relationships. An accurate, detailed account of client interactions are key to building strong relationships and also instrumental in revealing opportunities.

To help with the documentation of client meetings, advisors are turning to dictation as a solution. This technology, however, is a great example of the need for the inclusion of the human touch in order to maximize the positive impact of such a tool.

The key to the successful adoption of dictation as a client meeting note documentation tool is hidden in the background of the dictation process. Mobile dictation applications are simply the mechanisms used to capture spoken client meeting notes. What truly matters is the process by which the voice is translated, which directly impacts the accuracy of the note that’s delivered back to the dictator.

This provides an explanation to the very common question advisors have when it comes to dictation; why not use a free voice to text software instead of a dictation service that requires a monthly subscription?

The answer doesn’t have anything to do with technology. Regardless of the mobile application, accuracy and quality of the transcribed dictation is directly attributable to the human touch that needs to be part of the translation process. Professional, human transcriptionists in combination with dictation technology is the key to the successful documentation of a client meeting which can be relied upon for both compliance and client relationship building.

Technology may be the  mechanism used to capture the meeting notes, but only human, professional transcriptionists can transcribe and deliver a trusted, accurate meeting note transcript.

As the founder and CEO of a human dictation service for over 20 years, there have been countless opportunities to incorporate software, offshore outsourcing and much cheaper voice-to-text production options than utilizing US based, professional transcriptionists. Although the alternative methods of transcription cut costs from a production standpoint, the tradeoff in the loss of accuracy can have an even bigger cost to clients.

Inaccurate and mistake-riddled notes take time and effort to edit, and even more importantly, can lead to wrong recommendations or decisions, and a compliance nightmare when the client interaction isn’t correctly documented.

Advisors need to trust that their dictation solution will accurately transcribe exactly what was spoken. The human touch to mobile dictation has no high-tech substitute. Even the very best software solutions are incredibly inaccurate. Think about the last time you used Siri, Dragon or Alexa to translate a simple sentence that was delivered back a jumbled mess. Although these mistakes make for a good laugh at times, it’s no laughing matter when the inaccuracies show up in client meeting note documentation.

At Mobile Assistant we have chosen to invest in our dictation capture technology in the form of an enhanced mobile application with features such as the Assistant template guide, a searchable Notes section, and two factor authentication security. This state-of-the-art technology gives advisors an easy, reliable way to capture and send client meeting dictation to our service, which is then accurately typed by our professional transcriptionists. Cutting edge technology combined with the human touch delivers a client meeting note solution that is accurate, reliable and efficient.

The human touch principle is one that is rooted in the foundation of my company, and I hope our “Why” serves as a great reminder for advisors that the most important ingredient in the technology solutions is often the human component behind the scenes:

“People, combined with technology, provide the most powerful solution to our problems. At Mobile Assistant, we believe people make the difference.”

Corey Westphal is the CEO at Mobile Assistant. This human, voice-to-text client meeting note solution is changing the way advisors think about dictation. Mobile Assistant combines a cutting-edge mobile application with professional, human transcriptionists, to deliver the most trusted, accurate client meeting note solution in the financial industry. Typed and delivered with the human touch, the result is an evolved dictation solution designed specifically for the modern advisor.

Mobile Assistant offers a free trial at or call 888-373-1916 to speak with our team of professionals.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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