Episode 022: The financial advisory industry has always been known for its meticulous attention to detail and dedication to providing a seamless client experience. However, the traditional approaches to managing fees and contracts have presented challenges, requiring a revolution in processes to elevate the onboarding experience for clients.

In this episode of The Connected Advisor, Kyle is joined by Lacey Shrum, Founder of Smart Kx. They discuss the challenges of fee schedules and billing in the wealth management industry. With a background in law, Lacey saw the need for better automation and efficiency in the fee and contract processes for financial advisors. Lacey explains how Smart Kx streamlines the client onboarding process, optimizes fee schedules, and ensures accurate billing. She also touches on the importance of providing a seamless client experience and how automation can help advisors grow organically. 

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Key Takeaways

Quotes

"If you look at the fee problem, you have these client contracts on one hand and the processing system on the other hand. Now, we've built all these systems to hold them together." ~ Lacey Shrum

"From a business standpoint, when you have a prospect that says yes, this advisor needs to get that prospect on immediately. They don't need to give them a bunch of homework." ~ Lacey Shrum

"You're sitting at the table with a prospect, and they say, 'Yes, I want to come on board.' What if you could take that 'yes' and instantly click through our system and say, 'Great, I've already sent you the documents.’" ~ Lacey Shrum

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