Why Financial Advisory Firms are Switching to a Business VoIP Phone System

In an article for the New York Times, Craig Pfeiffer, the CEO Money Management Institute which represents the investment advisory solutions industry, observed that: “the financial advice profession is under pressure to continue to move aggressively from a sales- and product-driven focus to a more comprehensive, advice-driven model delivering a personalized, streamlined experience to investors similar to what is happening in other industries.”

As with disruptive shifts in any field — such as legal, healthcare — some financial advisory firms are successfully navigating the client-centric landscape, while others are struggling. And it’s not surprising that many firms that see the future as filled with opportunities to embrace vs. obstacles to avoid have made the switch to VoIP.

Here are the 5 key reasons why financial advisory firms of all sizes — from small boutique operations to large enterprises — have switched to a business VoIP phone system, and their only regret is that they didn’t do it sooner:

Communicate Across Multiple Channels

Unlike conventional phone systems that must run on a separate — and costly to maintain — voice network, a business VoIP phone system leverages an existing data network. As a result, financial advisors can connect with clients through voice, web chat, video chat, and fax. Clients have the freedom and power to choose the communication channel that suits them best.

Re-Inventing Call Transfer

It’s common for clients to call one office to speak with an advisor, only to find out that he or she is at another location. With a conventional phone system, clients in this situation are forced to leave a message and wait for a call back, or hang up and dial the other location (and hope that they don’t continue getting bounced around). But with a business VoIP phone system, clients can be seamlessly transferred to any other location in a matter of seconds. At first glance this may seem like a minor benefit, but make no mistake: it’s a big deal to clients, and over time can give them ample incentive to either stick with an advisory firm or head to a different — and more accessible — competitor.

Greater Responsiveness

Even financial advisory firms with a single location typically have employees roaming across the office throughout the day engaged in meetings, conferences, and so on. A business VoIP phone system supports total mobility by enabling employees to receive and send calls (along with instant messages) using their smartphone. What’s more, outgoing calls display the firm’s Caller ID, not the employee’s personal information.

Data and CRM Integration

Because a VoIP phone system is a truly digital solution, it is fundamentally designed to integrate with other solutions in the environment, such as CRMs, billing software, and so on. As such, financial advisors can immediately access a wealth of client-specific information simply based on the incoming call number, and deliver a more personalized and impressive level of service.

Compliance, Record Keeping and Security

Clients expect and demand that financial advisory firms meet all prevailing compliance, record keeping and security requirements. A business VoIP phone system helps meet the core objective safeguarding all communications with robust enterprise-grade security, and providing options for recording calls and generating a wealth of analytics data for training, quality assurance and auditing purposes.

To learn more about how your financial advisory firm can reap the rewards of a business VoIP phone system — and lead the way on a more client-centric landscape — contact the DigitalPhone.io team today. (336) 560-4400. Your consultation with us is free.

5 Ways that a Hosted VoIP Phone System Boosts Mobile Productivity

DigitalPhone.io is a cloud-based business phone system that saves you money while increasing productivity and mobility.

In the past across most industries and sectors, remote workers were the exception (and we’d all hear them brag at parties about their glorious office-less job). However, these days remote working isn’t just trending, but it’s the norm!

3 Out of 4 Workers Will Be Mobile by 2020

According to research from IDC, the number of mobile workers in the U.S. will grow to a staggering 105.4 million by 2020, at which time approximately 3 out of every 4 employees will work at least part — if not all — of the time away from the office.

Given the surge in remote working, it’s easy to understand why businesses of all sizes — from small startups to large enterprises — are investing in systems and solutions that boost mobile productivity. And one of the ways that they’re achieving this mission critical objective is by switching to an advanced hosted VoIP phone system.

Below, we highlight the 5 ways that a hosted VoIP phone system significantly and sustainably boosts mobile productivity, which is as good for remote workers and GREAT for an organization’s competitive advantage, customer experience commitment, and overall bottom-line:

1.  Anytime, Anywhere Connectivity

Simply by installing a lightweight app on their smartphone (iPhone or Android), remote workers can access the hosted VoIP system to make or receive calls from anywhere, and at any time (see note below). What’s more, they can instantly connect with through instant messages, and check the status of their colleagues before making or transferring a call.

Note: we mentioned that remote workers can make and receive calls at anytime. However, if desired, system administrators can create customized rules that govern when this is possible, such as during regular business hours. It’s also possible to set geographic restrictions to prevent calls if they are made or received beyond a certain distance from the office.

2. One Number vs. Multiple Numbers

Remote workers typically have multiple phones — which means they have several phone numbers. For example, they often have an office number, a corporately-owned smartphone number, a personal smartphone number, and a home landline number (and possibly a separate home office number as well). Trying to reach remote workers can be like a time consuming process of trial and error!

However, a hosted VoIP phone system eliminates this hassle and confusion. Remote workers can route all calls to their smartphone (or any other number if desired), which means that colleagues and customers only have to remember and dial one number vs. multiple numbers.

3. Consistent Caller ID Profile

Despite the productivity advantages, many businesses don’t want their remote workers making outgoing calls from their smartphone because their personal name/number will show up on the other parties’ Caller ID. In some cases, this can simply look amateur and unprofessional, while in other cases the concern may be about worker safety and security.

Fortunately, neither of these are risks or issues with a hosted VoIP phone system. All outgoing calls only display the business’s name and phone number on Caller ID.

4. Seamlessly Transfer Live Calls

With a hosted VoIP phone system, remote workers can seamlessly transfer live calls from their smartphone to any other IP phone that is connected to the system — including those that are installed in other locations — and continue to call without interruption.

For example, they can answer a call using the IP phone on their desk, transfer it to their smartphone as they walk out of the office to their car, and then transfer it again to their car via Bluetooth.

5. Full Call Control

With a hosted VoIP phone system, mobile workers can manage their contacts, voicemails, call history, answering rules, greetings, presence, and all other configurations from a single location. They can also pick-up voicemail-to-email and voicemail-to-text messages throughout the day (or night if required!).

The Bottom Line

These days, the question isn’t whether businesses need a mobile telecommunications strategy and solution, but how quickly and affordably they can put one in place. At DigitalPhone.io, we make it happen for as little as $20 per user, with unlimited advanced calling features and full mobile integration to empower today and tomorrow’s remote workforce.

To learn more about the benefits of a hosted VoIP phone system for your multi-site organization, contact the DigitalPhone.io team at (336) 560-4400 today, or click the Contact Button on your right. Your consultation with us is free.