Robin Edgar, an independent financial advisor with Concorde Investment Services, LLC, has been a licensed financial advisor for over twenty-six years. In 2013, she made a significant change to her practice. She sold eighty percent of her book and let her administrative staff go.
The change allowed her to focus entirely on the top twenty percent of her clients and enabled her to move her practice from Iowa to Minneapolis where she could be closer with her children and grandchildren. The change also required that she take on some additional tasks including document management and processing.
As an industry veteran with 20/20 hindsight, Robin has seen the hurdles the industry has overcome with each new advancement in technology. “When I think back to how processes were, I can see all the opportunities for error. There existed such a long gap between us filling out the paperwork, getting the approval, and then forwarding it on to the company to be processed,” explained Robin.
“I don’t sell a product where I don’t go out and meet the principals,” said Robin, “So I do a lot of traveling.” Robin needed a platform that was easily accessible, easy to use, and eliminated the need to maintain paper files. When not traveling, Robin has to process all of her paperwork within a short amount of time.
I just uploaded twenty-five applications for alternatives yesterday and had them indexed within 3 hours.
“When I was transitioning my book, Docupace was being introduced,” said Robin. “I was an early adopter which can be a little bit of a struggle, but after learning the system it has become a huge time saver.”
“Most of my business is in alternative investments. Generally, I’m talking to clients about two or three different investments at a time, and each investment has a twenty page application,” explained Robin. “I scan all my documents, upload them onto my desktop and from there pull them right into Docupace. I just uploaded twenty-five applications for alternatives yesterday and had them indexed within 3 hours.”
“I’ve learned how to use the separator and how to index and how to create folders very quickly,” said Robin. “All of my clients are in Docupace now which makes processing for them very efficient.”
Benefits for Robin:
- Ease of system allows her to organize, store, file and track all work items.
- Quick retrieval of any document in the event of an audit.
- Secure document storage and implementation of a paperless office.