Earlier this year, Investment News featured a three-part series sponsored by Salesforce and Accenture focused on the ever-changing wealth management industry. Part three of the series was entitled, “Building a Client-centric and Advisor-centric Platform”.
The article addresses client-centric first, and outlines what many RIA firms have already recognized;
- Understanding their clients’ financial goals
- Offering timely, and relevant financial information
- Increasing ease of financial decisions
- Ease of comparing financial returns against benchmarks
With Dynamic Wealth Advisors’ integrated, Wealth 360 platform, the Client Portal is a client-centric platform with access to all accounts directly or indirectly managed by their advisor. In fact, we covered the importance of aggregating outside accounts in last week’s post. The Client Portal also allows clients to see firm and custodian documents, as well as real time access to the client’s financial plan through MoneyGuidePro.
As it relates to the advisor-centric technology platform, the article outlines the key objectives as:
- Tools needed for growing their business by adding new clients
- Growing share of wallet of existing clients
- Providing data that is useful and actionable
- Balancing the user experience for younger and older advisors
All of the above are very important in creating an advisor-centric experience with technology, but I would like to add one more – increasing mobility. More and more, advisors are on the move, and need access to information outside of a traditional office. Wealth 360 provides that to DWA’s advisors.
If you are considering going independent, starting your own firm, and want to learn more, please contact us for a confidential consultation.