Mobile Dictation as a Client Data Retention Tool

Advisor Websites
Advisor Websites • Posted on Jul 31, 2012

July 10, 2012

By: Corey Westphal, President, Mobile Assistant, Inc.

A recent survey of advisors with 10 or more years of experience cited by Financial Advisor Magazine came back with alarming results. An incredibly high percentage of those surveyed felt they lacked access to their clients’ total account data – the very data needed to service their clients. Without this client data (e.g., retirement accounts, “held-away” assets, major life events, etc.), advisors cannot fully analyze a client’s present status or help them reach their future financial potential.

Advisors must be asking themselves, “How do I provide the best advice to my clients when I don’t have a complete picture of the client’s situation?”

For many advisors, the need to improve access to client data has taken top priority. By incorporating solutions such as CRM and data aggregation software, they can obtain a snap shot of a client’s financial picture to better assist them in managing their financial wealth.

By far, one of the easiest and cost-effective tools available for client data retention is mobile dictation. No other tool on the market has such an immediate impact on an advisor’s ability to collect, retain and utilize important client information.

So, what is mobile dictation and how does it work?

Mobile dictation is an easy to implement, secure and cost-effective solution for advisors to document client and prospect interaction. Advisors use mobile dictation services to help with client sales, service and compliance purposes.

Mobile dictation is a simple solution to a longstanding problem. After a client meeting, advisors call their mobile dictation service from any phone. They record their notes, impressions, and next steps; a typed message is then emailed back to the advisor. The most important information from client meetings is immediately captured and recorded for review within hours. Not only does the service save the advisor time by not typing the notes, more details from the meeting are actually captured this way because there is no time (and resulting memory) lost in documenting the events. Not all mobile dictation services are the same. The biggest difference involves the method in which the voice dictation is converted into the typed note. Some services use voice- to-text software, part time non-professional transcriptionists, or outsource the voice dictation overseas. These approaches all result in less than superior quality notes.

Mobile Assistant has set itself apart from other voice-to-text services in the financial industry by its focus on accuracy and quick turnaround time. By employing professional transcriptionists and imposing no time limits for dictation, Mobile Assistant has quickly become the premier choice for advisors.

One of the many testimonials on the Mobile Assistant website states “This transcription service is the most complete and accurate service that I have used in the previous 20 years of utilizing transcription services.” Frank, JHFN Professional.

What makes Mobile Assistant the best voice-to-text solution?

  • Professional accuracy; U.S. based transcriptionists with quality oversight
  • No time limit per call
  • Secure and confidential; HIPAA compliant, Cyber-Risk insurance protected
  • Less than 8 business hour turnaround time
  • Easy to implement. No equipment to buy; use any phone
  • Toll-Free dictation number
  • Inexpensive

Mobile Assistant has been recognized and endorsed as a best practice at organizations such as Mass Mutual, John Hancock Financial Network, Woodbury Financial Services, TIAA Cref, TD Ameritrade, Securities America, and many others.

Mobile Assistant offers a free trial on their website, The retail rate for Mobile Assistant is $72.50, but simply signing up for the Free Trial gives advisors a discount coupon to use which brings the rate down to $54.37 per month.

There is no need for advisors to feel their access to client data is lacking. By incorporating an easy-to-use tool such as mobile dictation, fully capturing and documenting client data is just a phone call away.


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