It was a great reunion – meeting clients, friends, partners and respected competitors reminded us how much we missed being apart during the depths of the pandemic.
Rich recalled how one firm was stumped by a simple question: Where did its data reside, in its CRM or in its portfolio management system? The answer, he said, is both data should be ubiquitous, feeding into all of an advisor’s tech stack.
To increase productivity, advisory firms need to drive accountability with clear objectives and goals, Rich noted. Once that’s set, he added, firms need to focus on data and measure results in all key business areas.
Rich struck a chord with a number of attendees – including some of the industry’s top observers – with his segments on marketing and platform approach.
Growth, Rich noted, is being driven by marketing; the top-performing firms are spending more on expanding their client base beyond referrals.
And firms need to approach their technology stack as a complete system, Rich said, to ensure that their data lives in all of their tools and they achieve a level of connectivity that makes the experience seamless for advisors and the end clients.
One of the standout points from the study: More than 80 percent of survey respondents said client-facing automation was a critical or moderate need for their firm and were focused on four key processes: client onboarding, day-to-day client service, analysis of data through the client lifecycle, and marketing and business development outreach to tomorrow’s clients.
Another highlight was hearing from Franklin Templeton President and CEO Jenny Johnson in her fireside chat with T3 head Joel Bruckenstein. She noted that Franklin Templeton’s acquisition of AdvisorEngine was part of its recognition that its partners expected more from them to help grow their business.
Jenny made sure to meet everyone from AdvisorEngine. She impressed everyone with her down-to-earth candor and friendliness.
During T3’s Enterprise day, George Tamer, AdvisorEngine’s head of sales, laid out why AdvisorEngine provides a better alternative to firms that are wondering whether to build or buy technology.
Partnerships that are trusted and really can get your firm to a better outcome, George noted, providing a helpful slide with five tips on how firms can achieve better tech partnerships.
It wasn’t all thought leadership – AdvisorEngine made a splash with larger-than-life, all-encompassing branding throughout the event and generated a lot of energy around the booth with our sponsored events.
I think we made a couple of new friends over drinks. After two years of the pandemic, this was a welcome return.
AdvisorEngine is not done with Texas yet. We are looking forward to seeing all our friends in Austin next week for >drive!
Hope to see you there; we have many exciting developments to talk about and some amazing guest speakers, including actor / Dunder Mifflin CFO Andy Buckley. Let’s go!