As we usher out another year, the landscape for 2025 seems full of possibilities, especially when it comes to wealth management and financial planning.
That said, for a savvy financial planner, it’s going to be more imperative than ever before that you have your firm’s financial house in order so that you can help your clients with theirs.
- As we move into the new year, financial planners should think about ways they can integrate new financial tools into their already existing tech stack to stay relevant to their client’s ever-changing financial needs.
- From sustainable investing to estate and tax planning needs, clients want more comprehensive financial advice that takes their entire financial picture into account.
- When looking for new financial tools, advisors need to do their research and make sure they choose software that is effective, efficient, and can scale with their firm as their clients’ needs continue to shift and grow.
A new year always brings optimism and goal-setting, igniting the desire for growth and fresh starts. One of the most prevalent areas this is prioritized is when it comes to personal finances.
Whether you have clients who are just starting to think about their financial portfolio, or you have seasoned individuals who want to do a deeper dive into their allocations, spending habits, tax situation, or future financial goals, it’s crucial that you have the right resources to help each one with the goals they have for the new year.
As we begin a new year, let’s look at some of the exciting financial planning tools that are going to be instrumental this year in helping your firm grow and help your clients thrive.
Here’s to 2025!
Digital Transformation and the Financial Planning Landscape
As we move into a new year, more use of digital tools will be seen than ever before.
Advancements in technology, such as artificial intelligence (AI), machine learning, and big data analytics, are revolutionizing how financial planners operate and deliver services. In fact, in an article titled, “Technological Advancements in Financial Planning,” the author makes it clear that implementing these tools into your firm’s tech stack is going to “open up new opportunities for innovation, transparency, and customer engagement.”
Bottom line?
Financial planners who embrace digital transformation will quickly enhance their efficiency, improve their client experiences, and gain a competitive edge.
Let’s look at some of the most exciting new tech tools that should be a big part of a financial planning software tech stack for the new year:
Blockchain Technology:
Blockchain technology enhances security and transparency in financial transactions and records. Whether it be a client portal or a complex network of financial transactions, blockchain ensures that all data is securely recorded in a decentralized ledger. This can be particularly useful in reducing fraud, ensuring data integrity, and improving the efficiency of record-keeping processes across all financial sectors.
AI-Powered Analytics:
AI-powered analytics tools will continue to be a part of the best financial planning software tools as we enter into a new year.AI-powered analytics allow for deeper insights into market trends as well as client behaviors.
By analyzing vast amounts of data quickly and accurately, these tools can help financial planners identify patterns, predict future trends, and make more informed decisions as they pertain to a client’s financial goals.
This enables more personalized advice and better investment strategies tailored to individual clients’ needs.
Cybersecurity Tools:
As financial planners deal with having more sensitive client information online, robust cybersecurity tools are critical for protecting this data and maintaining client trust.
Good cybersecurity tools will include things like advanced encryption methods, multi-factor authentication, and continuous monitoring for potential threats.
By implementing strong cybersecurity measures, financial planners can safeguard client data against breaches and cyberattacks.
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The (Greater) Move Toward Sustainable Investing
Sustainable investing is no longer a niche market. It is becoming increasingly mainstream.
Statistics show that in 2024, sustainable investing grew to more than $6 trillion in the U.S. alone.
Not only that, but experts agree that this number is only going to increase as more investors want to align their financial goals with their environmental and social values.
As a financial planner, one of your key roles is to help your clients with their portfolio management and ensure their investments align with their financial goals, their risk tolerance, and their overall value system.
In 2025, clients are more likely to prioritize environmental, social, and governance (ESG) factors in their investment decisions. Financial planners should be prepared to offer sustainable investment options that align with these values and goals.
Here are some of the ways to do this:
Research ESG Funds:
Identify mutual funds, ETFs, and other investment vehicles that prioritize ESG criteria. Look for funds that are actively managed with a focus on sustainability and ethical practices.
Educate Your Clients:
Inform clients about the benefits and potential risks associated with sustainable investing. Help them understand how ESG factors can influence financial performance and align with their values.
Find the Right Financial Software to Help:
Invest in financial software that includes features for ESG investing, such as tools for evaluating ESG criteria, tracking sustainable investments, and generating reports on ESG performance. This will streamline your process and ensure you have the best tools at your disposal to meet your clients’ needs.
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Get Started TodayFinancial Fitness: The Continued Focus on Financial Health
Investors are going to put even more focus on their financial health in the upcoming year.
From focusing on their everyday expenditures to their long-term tax planning strategies, today’s financial planning clients want holistic, personalized advice that aligns with their financial goals, lifestyle, and values.
As a financial planner, you are going to want to make sure you have the tools in place to be able to help your clients have a strong sense of understanding and control over their total financial picture.
From cash flow analysis tools to robust retirement planning software, it’s going to be more important than ever before to give today’s clients the insights and guidance they need to make informed financial decisions.
By adopting a client-centric approach and leveraging advanced financial software, financial planners can meet these evolving expectations and deliver exceptional service in a comprehensive way that checks all your client’s financial boxes.
Let’s look at a few specific ways you can do this:
Implement Cash Flow Analysis Tools:
These tools help clients track and manage their income and expenses, providing a clear picture of their financial health.
By using these tools, you can assist clients in creating realistic budgets and identifying areas for potential savings.
Offer Robust Retirement Planning Software:
Advanced retirement planning tools allow you to project future financial needs from your client’s financial information and create tailored retirement strategies.
These tools can help clients understand how their current savings and investments will support their long-term goals.
Utilize Comprehensive Financial Management Platforms:
These platforms integrate various financial planning functions, including investment tracking, tax planning, and estate planning.
By providing a holistic view of a client’s financial situation, you can offer more informed and cohesive advice.
Make Tax and Estate Planning a Priority:
Ensuring that your clients have effective tax and estate planning strategies in place is crucial for long-term financial health.
This involves minimizing tax liabilities, planning for the efficient transfer of assets, and ensuring that a client’s wishes are clearly documented and legally binding.
Utilizing specialized tax and estate planning software can simplify this process and provide clients with peace of mind.
By incorporating these types of tools into your practice, you can provide your clients with the clarity and confidence they need to achieve their financial aspirations while also ensuring their financial health remains a top priority.
Are You Ready for 2025? Let Holistiplan Get You There
Navigating the complexities of a new year can sometimes be daunting.
Let Holistiplan help you.
With over 30,000 advisors in the financial planning services industry already trusted clients, Holistiplan is making a significant difference in the way that financial planners approach financial tools like estate and tax planning services for their clients.
Our software’s intuitive interface and powerful features allow you to quickly analyze tax returns, identify planning opportunities, and generate detailed, client-friendly reports.
When you choose Holistiplan, you’re not just getting a tool—you’re gaining a piece of wealth management software that is able to help transform your client relationships to match what they are looking for as we enter into a new year.
Are you ready to see the difference Holistiplan can make? Try a free trial today and experience firsthand how Holistiplan’s software can transform your tax and estate planning services.
Your clients deserve the best — and with Holistiplan, you can deliver it in 2025.
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