In the digital age, technology has become an indispensable tool in financial advisory services. However, Mark Weiskind, Founding Partner at Fairway Wealth Management, emphasizes that technology is only as valuable as how you use it. For example, technology in financial advisory must be implemented effectively.

“Technology should enhance, not replace, the human connection in financial services,” he says.

Advisors who leverage technology effectively can streamline operations, enhance personalization, and strengthen client relationships—without losing the essential human touch. The integration of technology in financial advisory should be carefully balanced.

Enhancing Efficiency with Smart Tools

At its core, technology serves two primary purposes in financial advisory: improving efficiency and enhancing client experiences.

Tools like:
CRM systems for client tracking and personalized engagement
Financial planning software for scenario analysis and goal-based planning
Automated communication platforms for timely updates and reminders show how technology in financial advisory is applied.

These solutions save advisors hours of manual work. This frees them to focus on what matters most—building relationships and delivering high-value advice.

Personalization Through Data and AI

One area where technology truly shines is personalization. Advanced data analytics allow advisors to understand client preferences, goals, and behaviors, making it easier to offer tailored recommendations. Technology in financial advisory helps in achieving this.

For example, a CRM system can automatically:
Set reminders for key client milestones (e.g., birthdays, retirement planning dates)
Trigger personalized outreach based on client activity
Recommend customized investment strategies based on market trends

This level of personalization helps advisors deliver proactive advice that strengthens trust and loyalty.

Empowering Clients with Real-Time Access

Technology isn’t just for advisors—it also empowers clients.

Online portals and mobile apps give clients real-time access to portfolio performance.
Performance dashboards provide clear insights into financial progress.
Secure communication tools enhance transparency and engagement and are a vital part of technology in financial advisory.

When clients have instant access to their financial information, they feel more in control. This fosters deeper trust in their advisory relationships.

Striking the Balance Between Tech and Human Touch

Despite its benefits, Mark cautions against overreliance on technology.

“Clients don’t want to feel like they’re dealing with a machine,” he explains.

While automation and AI can improve efficiency, empathy, listening, and personalized guidance remain irreplaceable. The most successful advisors are those who blend cutting-edge technology with genuine human connection to create meaningful client experiences. A balanced approach to technology in financial advisory is crucial.

These insights are inspired by the latest episode of The Connected Advisor podcast featuring Mark Weiskind, Founding Partner at Fairway Wealth Management. Dive deeper into the importance of holistic advisory services. Listen to the full episode here and explore more articles in this series.