During the two years leading up to the start of the COVID pandemic, strong economic growth was encouraging people to invest. Then COVID hit and everything stalled. Now, with the economy recovering, the money stream is flowing again. As a financial advisor, you have investors coming out of the woodwork. Now more than ever before, you need a due diligence platform.
A due diligence platform is a software platform that provides data-driven analyses of your target companies. Mezy is a Utah diligence provider with such a platform. They say their platform is an excellent tool for evaluating the most important aspects of target companies prior to recommending them.
Their platform has assisted financial advisors scoping out new opportunities. It has been used to help venture capitalists filter prospective startups, as well as helping those startups package their companies in the most attractive way possible.
Data Drives Due Diligence
Regardless of the due diligence platform you choose, you really want a tool that thrives on data. Put another way, your platform should be a data-driven platform that combines the latest in technology with tried-and-true financial principles.
The best platforms are built on a foundation of algorithms capable of collecting, analyzing, and compiling data intelligently. Like algorithms power the Google and Bing search engines, algorithms should be powering the research you do on behalf of your clients.
You need as much data as you can get right now. Why? Let’s face it, there are tons of new opportunities staring you in the face. It is too easy to find yourself distracted by investment opportunities that will come back to bite you down the road. You obviously don’t want that. A data-driven due diligence platform can save your skin by keeping you away from opportunities you have no business presenting to clients.
Wise Decisions Fuel Financial Success
Your years as a financial advisor has taught you that success is not an accident. It is also not a matter of gut instinct and happenstance. Success in the investing world is a result of making wise decisions on a consistent basis. Granted, not every decision is a winner. But wise decisions produce winners more often than losers.
The point is underscored when you understand the definition of ‘wisdom’. The fact is that wisdom is not the same thing as knowledge. It is knowledge taken to the next level. True wisdom is the skillful use of knowledge.
A due diligence platform driven by data on a foundation of intelligent algorithms provides the knowledge. It provides you with the raw numbers and forecast data you need to fully understand an opportunity before you. Your job, as a skilled financial advisor, is to use that knowledge wisely.
Helping You Make Better Decisions
Neither due diligence nor a diligence platform can make decisions for you. Nor should they. Both are merely tools you use to do your job. How you use those tools defines your success or failure as a financial advisor. The point is to use them to help you make better decisions on behalf of your clients.
Right now is a fantastic time to be a financial advisor. Investors have money to put into new opportunities. Even first-time investors are getting on board like never before. Your phone doesn’t stop ringing and your email inbox is full. What are you going to do with your opportunities?
One thing you should do, if you haven’t done so already, is find yourself a strong due diligence platform. Use the technology to uncover the right opportunities for your clients. It could save your skin.