In the finance industry alone, the use of technology continues to increase at a rapid pace. Electronic applications and signatures, robo-advisors and client management systems are becoming more prevalent. Blockchain is expected to follow.
CPAs must embrace and become proficient in these new technologies to best serve their clients. By collecting client data into a common structure, CPA firms can build an information base that allows them to offer the appropriate financial services to each client.
By leveraging their data analytics, financial advisors can quickly determine which services best suit each client’s needs. Financial advisors are encouraged to build a database starting with information provided in a client’s Form 1040. Learn more here.