6 Financial Advisor Tools That Will Get Your Firm Up and Running

3 min read
December 04, 2023

XYPN Ops, formerly known as XYVA, has put in over 6,000 hours of work for our members by digging into 200+ different systems. You could say we’ve learned a thing or two about which systems are the most efficient and work together the best.  We’ve compiled a list of six financial advisor tools that will get your firm up and running.

#1: Wealthbox - Free for XYPN Members

In a world full of complex CRMs, Wealthbox is the effortless odd man out. Wealthbox offers a user-friendly business hub for managing your practice, making it an attractive option for new RIAs. You gain access to task and workflow creation, report generation, note-taking, and calendar scheduling. Wealthbox also has over 100 industry integrations available. But most importantly, Wealthbox provides you with a location for getting to know your clients.           

#2: RightCapital - Free for XYPN Members

RightCapital’s collaborative approach to financial planning software enables your clients to do some of the work for you. This can be especially helpful if you are just starting out and all of your clients are new clients. The interactive portal provides clients with the opportunity to login and add information to their profiles, including linking accounts. The RightCapital vault acts as a secure location for clients to upload documents directly to you. If you’d rather not give clients full reign in RightCapital, don’t worry, there is also a view only setting.

#3: PreciseFP - Discount for XYPN Members

We’ve found that PreciseFP is an underutilized platform by XYPN members. XYPN Ops is here to tell you that you might be missing out! PreciseFP offers a fast and easy way to collect client data and signatures. For anyone still in the building phase of their firm, leveraging PreciseFP as a building block can absolutely set you up for data-gathering success. You are able to send out engagements to clients using customizable templates for things like surveys, questionnaires, client agreements, custodial forms, and more. Similar to DocuSign, clients are even able to fill, sign, and return forms.

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#4: Calendly

Every RIA needs an efficient way to schedule client meetings, and Calendly has proven to be both an affordable and streamlined solution. It is easy to set up and customize. Not to mention, Calendly has a host of integration capabilities with CRMs, Zoom, and Google Chrome. Adding Calendly to your toolbox from the get-go can set you up for successful calendar management right from the start.

#5: Smartria - Free for XYPN Members

Constantly keeping track of compliance can be frustrating and time-consuming, but it is also necessary. Enlisting the help of Smartria can help lessen the burden. The software gives you the ability to document your firm’s compliance with federal and state regulations. Smartria also provides a secure location for storing client data. Even the newest firms should be prepared for an audit. Smartria’s resources and quarterly reminders can help make staying compliant feel like less of a chore.

#6: XY Archive - Free for XYPN Members

XY Archive offers a one-stop shop for documenting client communication to satisfy books and records compliance requirements. Email, website, and social media data is collected and easily stored for you. Taking advantage of XY Archive at the start of your firm’s creation will keep your books and records compliant while ticking one more thing off your to-do list. 

XYVA became XYPN Ops because members like you require more than just virtual assistant services. Members want a partner, a problem solver, a project manager, and an administrative assistant all rolled into one. You spoke, we listened, and we adapted to 
better fit your needs. One of the ways we’ve adapted is to add a new offering for the newest XYPN members launching an RIA. 

We heard from our clients and other member surveys that it would be supportive and valuable to offer a plan that stands up core tech and business and client management systems for new practices so their focus could remain on revenue-generating tasks instead. So we designed a new Ops Launcher Plan to help others launch their RIA.   

The Ops Launcher Plan will be available as part of our Launcher Kit starting in January 2024. We have put together a package of system necessities that XYPN Ops can set up for you, including this list of six financial advisor tools that will get your firm up and running. Our goal is to do the initial leg work for you so that you can focus on all the important and enjoyable parts of your new business. If you would like help setting yourself up for success, contact XYPN Ops here.

XYPN Ops Launcher Plan

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About the Author

Amanda Chamberlain is a Lead Operations Specialist for XYPN Ops. She specializes in developing standard operating procedures for her team as well as curriculum and workflow creation. Amanda was a Band Director in Texas for ten years before transitioning into a career with XYPN. As a former teacher, she is experienced in training others and putting out fires. She continues to use these skills every day in her current position. Unfortunately, her professional clarinet playing skills weren’t as transferable! Amanda lives in deep South Texas with her husband and young son. She loves spending time with her little family.

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