Growth strategies are always at the forefront of every advisor's mind; you want to ensure a successful future for your firm.
Technology is a key part of this strategy. But choosing advisor technology can be daunting for any growing RIA.
To help firms understand how to navigate the process, we're embracing a new level of transparency with our ongoing series, “Partner perspective.”
In the spirit of learning and partnership, we'll briefly walk through our market experiences and share them with you in each segment. We hope you'll gain insights into how firms like yours work with vendors to achieve the best tech outcome.
Each week our sales team will deliver a few notes from the field to provide perspective into firms that partner with AdvisorEngine® technology to scale and those that don’t. Here’s David Coyle with some wealth technology solution insight:
The firm
Here’s a little background, demographic info about this particular prospective client:
- Who - a 3,000 person (and growing) holistic financial firm founded in 1930. With roots based in accounting, tax planning and wealth management, they manage over $5 billion in client assets.
- Where - Offices in 16 states across the country and India and the Philippines.
- What - This firm, specifically their COO, was looking for a wealth management technology solution.
The strategy
This firm was looking to identify a technology partner with the capacity to build out a separate branded channel to service mass affluent investors.
They targeted an efficient, scalable wealth platform to attract their tax clients and the next generation of investors. The goal of this channel was growth in this particular demographic. They also wanted a technology solution that could easily be supported and managed by their staff.
The review
Key to the selection of AdvisorEngine was our ability to support both advisor and client-led account opening in a straight-through process. Customization of risk profile questionnaires and enabling the firm to use their own models were critical in the solution.
The AdvisorEngine client portal white-label branding and configurability was also at the top of their list.
The outcome
This firm is experiencing rapid growth in its newly formed and branded channel. They have exceeded AUM goals by 30% in the first year. In 2022, this channel will be available to more than 2900 tax professionals nationwide.
Currently, we are exploring additional planning, portfolio analytics and integrations to enhance the client experience further.
Need help with your advisor tech stack? 