Interview with AdviceTech.LIVE Speaker Brian McLaughlin of Redtail Technology
Brian McLaughlin
CEO of Redtail Technology
AdvisorTech.LIVE Panel: CRM Solutions
How did you get your start in financial services?
As a college student, I landed a job at a financial services OSJ (for InterSecurities, Inc). There I met my friend Andy who was their Director of IT.
I had always loved computers and programming and when the opportunity arose to build a program that would allow real-time reporting and visibility into the salesforce I jumped at the opportunity and started building what would become Redtail CRM.
What’s something that you know now that you wish you’d known when you started your career?
I wish I had more experience in how to build a business. I was very lucky to have some amazing mentors that helped me learn the ropes. But it was challenging to learn all the various aspects of running a business that a CEO needs to master.
What excites you most about the financial advice profession right now?
The level of innovation in our industry has really accelerated and I can’t wait to see all the amazing solutions that are currently being developed using Machine Learning and other AI technologies.
Tech companies often add so many features and tools that advisors can lose track of everything available to them. Is there something your company does that you don’t think advisors know about that they should be aware of?
We make every effort possible to publicize the introduction of anything new within the suite of solutions we offer to advisors, but, you are correct, information overload is real and it’s pretty difficult for anyone to stay on top of all of the functionalities available to them across their tech stack.
That said, in regard to any Redtail offerings that might be underutilized, I’d say probably
1) Note and Activity Templates. We first introduced these nearly a year ago and the cumulative time savings they make available can’t be overstated. They are definitely popular with the advisors who are using them, but I don’t think everyone has yet realized the potential they offer for streamlining the common tasks of note and activity creation.
And, 2) we completely overhauled the mobile version of Redtail CRM earlier this year. For those who used Redtail mobile in the past and maybe weren’t satisfied with it, we definitely encourage them to update to the new version and give it a go. Our feedback from those who are using it has been outstanding!
Any words of advice for advisors looking to update their tech stack?
If you are looking to transition from a legacy system to a new one, make an effort to seek out other offices who have made a similar switch so you can get their take on it while also learning of any potential pitfalls or best practices in regard to making the switch.
Seek out vendors that are highly responsive when you attempt to reach them (via phone, email, or other channels where they offer support)—if it’s difficult to interact with a live person when you’re still a prospect, that’s unlikely to get better when you’re already a paying user.
Additionally, look for vendors that make available comprehensive training resources that you are able to access 24/7/365. That’s an indication they place value on educating their users and understand that support should be available to them whenever they may need it.