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AdvisorEngine  |  Financial Advisors  |  Technology  |  Wealth Management

Wealth Management's Digital Age

Technology has entered every part of my life.  At home, I am surrounded by it. In the kitchen cooking, throwing in a load of laundry or helping my kids with homework - everything requires something digital to function. At the office, my Macbook has replaced all my old tools - pen, paper, scanner, and fax. On the road, I’ve got something high-tech in my pocket, on my wrist, in my car - the list goes on and on. Everything has a screen and buttons to push.  It’s no wonder that a new digital age has entered wealth management.

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AdvisorEngine  |  Financial Advisors  |  Integrations  |  Junxure CRM  |  Technology  |  Wealth Management

How Financial Advisors Can Text Clients While Remaining Compliant

I’m a millennial. So it should come as no surprise that I like texting.  But it’s not just millennials who prefer texting as their go-to form of communication. Did you know that 89% of all consumers prefer to use messaging to communicate with businesses? Texts have a 98% open rate and 90% of these are read within 3 minutes of receipt. These numbers are astonishing. It’s no wonder that financial advisors are thrilled with Junxure’s latest integration with MyRepChat. MyRepChat reports this new integration allows advisors to communicate with clients via text while fulfilling important compliance requirements. 

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Blog Feature

Financial Advisors  |  Junxure CRM  |  Technology  |  Wealth Management

How to Implement New Technology Within Your Financial Advisory Firm

Over the course of my career, I’ve had the opportunity to talk to literally thousands of companies and financial advisory firms about technology - especially in my current role selling CRM software. Technology is powerful. Technology can make or break user experience. Technology can reduce costs associated with data capture and analysis. Technology can increase advisor productivity. Technology can free up time so you can focus on deepening client relationships. Who wouldn’t want that?  While choosing new technology is one thing, implementing it is another. Neither should be done without careful consideration. 

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AdvisorEngine  |  Digital Advice  |  Financial Advisors  |  Technology  |  Wealth Management

Financial Advisors and Digital Transformation: Lessons from a Florist

Saturdays are made for soccer. I’ve found myself looking forward to Saturdays all fall. It’s when I get to watch my seven year-old daughter take the pitch. It also doesn’t hurt that we have been fortunate with perfect, crisp, fall weather to go along with the play.  This past weekend, I had the pleasure of meeting a grandfather on the sidelines. He was in town visiting one of the other players. For the purpose of this article, I’ll call the grandfather “Sam.”  After exchanging pleasantries, Sam asked, “What do you do?” I gave him my brief headline and quickly responded, “What do you do, Sam?” It turns out Sam is a florist. I found my conversation with Sam the florist enlightening and worth reflecting on. 

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Advisor Marketing  |  AdvisorEngine  |  Kredible  |  Technology  |  Wealth Management

5 Essentials for an Effective Financial Advisor Website

Do you remember the last time you read an actual newspaper? Or printed out a map to get you where you needed to go? How about shopping? Did you go to the actual store or simply visit Amazon.com? Think about the now-enormous Amazon. Jeff Bezos launched it out of his garage 24 years ago. The website officially opened for business as an online bookseller but now functions as an e-commerce giant. It’s unbelievable to look back at changes this website has undergone over the years.  We can all learn an important lesson from Amazon and its website; change can be good, change can be productive and most importantly, change can help us grow.

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AdvisorEngine  |  Financial Advisors  |  Technology  |  Wealth Management

Developing a FinTech Product: How Does it Work?

The financial technology space is expanding. In 2018 alone, FinTech companies raised a record $39.6 billion in funding, up 120% from the previous year. Much of this funding went toward the development of new products and services. But how exactly does this FinTech product development process work?  A common analogy for the product development process is operating an assembly line. Ideas go in one side and products come out the other. The shortcoming of this analogy is that it describes a very linear activity - whereas the actual product development process is fluid and iterative.

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Financial Advisors  |  Junxure CRM  |  Technology  |  Wealth Management

The 4 Most Overlooked CRM Features Every Financial Advisor Needs

Are you maximizing the benefits of your Client Relationship Management (CRM) tools?  CRM and the customer experience is arguably the most powerful tool in the advisor-client relationship. Advisors spend more minutes of the day on CRM than any other part of the value chain. There are several features every advisory firm should be maximizing for top return on investment (ROI). By utilizing the following key CRM components, you can deliver best-in-class service – most of these factors occasionally get overlooked:

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AdvisorEngine  |  Financial Advisors  |  Technology  |  Wealth Management

How Design-Led Organizations are Transforming the Wealth Management Space

These days everybody is talking about design thinking and user experience (UX) - but what does it really mean and why is it essential? More importantly, how can it be applied to wealth management and financial advice experiences?  Design-driven organizations engage in a human-centered design methodology. As the name implies, human-centered design focuses on the human.

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>drive summit  |  AdvisorEngine  |  Financial Advisors  |  Junxure CRM  |  Wealth Management

My Favorite Wealth Management Event

What a week. After reviewing the feedback on this year’s event, I feel confident saying that >drive2019 was our best yet. There are dozens of wealth management conferences out there, but this one ranks as my favorite industry event. Two essential elements make it stand out: The strength of the community 💪 The actionable information that attendees take back to their offices to implement 💡📝 Below is a rundown of the 2019 event. Don't miss out next year! Our >drive2020 event will take place October 7th through October 9th, 2020 at the Austin Marriott Downtown. Register TODAY! 

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Financial Advisors  |  Junxure  |  Technology  |  Wealth Management

Benefits of a Wealth Management Operations Manager Utilizing a CRM

How (and why) DHG Wealth Advisors shifted their focus from transactions to relationships. These days, wealth managers are always thinking about how to plan for and adapt to tomorrow’s realities and position for long-term growth. No matter how hard you plan and position, the work to achieve growth cannot be done without some help along the way. At the heart of most wealth management firms, an Operations Manager can be found working hard to establish efficiencies and consistency in service.

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Financial Advisors  |  Investment Advisors  |  Wealth Management

How to Measure Investment Performance: The Art and Science Behind it

Back when I was a young investor, like most self-confident, burgeoning people, I felt I could choose my own stocks. Yes, yes, I know - you can’t expect old heads to rest on young shoulders, but nonetheless that’s my excuse. Like most stock pickers, I had a general record of mediocrity punctuated by occasional flashes of success, or more often, highly entertaining failure.   My very first pick has haunted me for years. Being a beginner and a small-fry, I didn’t have a whole lot to diversify as I only had a small amount to invest. So I sank in my entire fortune of $1,000 into a UK stock that was trading on the New York exchange. Overall the stock had a solid record and great prospects. I watched it daily, awaiting imminent riches.

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AdvisorEngine  |  Financial Advisors  |  Technology  |  Wealth Management

The Best Industry Conferences for Financial Advisors to Attend

Every year, financial advisors have the opportunity to attend a multitude of industry conferences held across the country, and our choices seem to be growing every year. And no matter where your office is located, these conferences are an investment of time and money. If you’re sending multiple members of your staff, which I encourage, you’re looking at a potential impact on your day-to-day business. If those reasons are giving you pause to attend, you’re not alone. Among my friends and colleagues, I am always surprised by how many advisors never go to these events.  The value of these cannot be overstated – the education component, combined with the incredible networking opportunities to talk to other advisors and business owners about their challenges and solutions are truly invaluable.

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AdvisorEngine  |  Financial Advisors  |  Junxure CRM  |  Sarah Thomas  |  Wealth Management  |  Women in Wealth Management

Tips for Women in Wealth Management: How Sarah Thomas Broke the Glass Ceiling in the NFL

Growing up as a multiple sport athlete, I really never had an appreciation for the umpires and referees. That is, until I went to college, where I had the opportunity to work in the intramural department. All of a sudden, I was on the other side. I was the one calling the strikes, balls and fouls – making judgment calls.   Wow! What an eye opener, I certainly gained a new level of respect for those that hold that position as a career. As I reflect back on that period of time, the stress of making the right calls and the added pressure of being a female in that role - I can’t help but think of Sarah Thomas. Sarah changed the game in the world’s most quintessential male-dominated sport – football - when she became the first female NFL official. Now she’s inspiring others to dream big and believe anything is possible.

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Financial Advisors  |  Junxure CRM  |  Wealth Management

How Bowers Wealth Management Streamlines its Processes with a Wealth Management CRM

Based in Penryn, California west of the lofty Sierra range, Karsten Dornseif makes up half of the two-man fee-only RIA shop of Bowers Wealth Management, Inc. While the firm’s office is based over the mountains and state line in Reno, Nevada, Mr. Dornseif finds himself working virtually much of the time from his California home office amidst five and a half idyllic rural acres. In working online he takes full advantage of cloud-based version of Junxure CRM—the only version of the venerable brand he has known. “I use it for everything that isn’t a number,” he said, noting that it was an indispensable repository for all the firm’s client data.

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Financial Advisors  |  Junxure CRM  |  Wealth Management

How CRM Helps Financial Advisors Deliver Personalized Newsletters with Ease

As the seasons change and holidays come and go, it's very important that you keep in touch with your clients in different ways. Newsletters can be an effective tool for doing so – allowing you to deepen relationships with your existing client base and connect with new prospects. By using your CRM (Client Relationship Management) system effectively, you can deliver newsletters in an organized and thoughtful way. One challenge of delivering quality newsletters is dealing with scattered information. Most financial advisory firms store data all over the place - within portfolio management systems, custodian portals, windows files folders, email systems. Wouldn’t it be great to collect this data all in one spot? Imagine if all of your client information could be found in one place - it sure would make sending any and all communications easier. Based on my experience serving financial advisors, below is my perspective on how to harness your CRM to deliver a great newsletter.

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Blog Feature

Financial Advisors  |  Technology  |  Wealth Management

15 Questions Financial Advisors Need to Consider When Launching a Digital Offering

These days, financial advisors have options - new technologies that provide competitive advantages. Tools that enable online, automated investment management services that are key to attracting the next generation of investors.  Smart advisors realize this paradigm change in the wealth management industry. An industry traditionally operated through face-to-face interactions - now quickly shifting toward digital offerings where real-time algorithms provide customers with financial advice and manage investment portfolios. When launching a successful digital offering strategy from the ground up, there are many things you must consider. By aligning your team and focusing on client experience, you can maximize your chances of success. If  you are considering a digital offering strategy, here are some ideas that you can take and implement into your financial advisory practice:

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Financial Advisors  |  Technology  |  Wealth Management

Top 5 Questions Financial Advisors Should Ask Themselves

For every advisor, technology plays an increasingly important role in how we run our businesses. Whether you have someone in-house or you outsource your IT support, investing in your technology tools should be a key part of your business plan. That includes choosing the right systems, implementing them efficiently, training for your team, and last but not least, regularly assessing your tools to determine if they are still serving you as your business evolves.   At the pace technology moves today, advisors can’t afford to get behind the times. Similarly to how we review a financial plan for a client on an annual basis, making sure their objectives still align with their plan, I recommend shutting your door once a year and really taking a close look at your technology plan to ensure you’re still on the best path to success. New generations of investors, whose expectations and preferences are shaped by new technologies, have brought new standards to the industry in terms of how advice and investment products are being delivered. When wealth management technology is used to power modern growth, it has a potential boom for investors and advisors alike.  When reviewing your technology plan, ask yourself these 5 questions:  

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Financial Advisors  |  Wealth Management

Top 5 Reasons Why You Should Digitize Your Financial Advisory Firm

A recent visit to the doctor's office made me think about the importance of technology in creating great client experiences. From my appointment confirmation to meeting with several doctors, it was almost seamless. It should be no different in wealth management. Financial advisory firms need to embrace technology in order to deliver a great client experience. Here are my top five reasons why your firm should digitize:

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Best Interests for Advisors: Your Compliance Program's Reality Check

Compliance norms change constantly. They change as business innovates and regulatory priorities and leadership shifts. Summer 2019 was rife with developments advisors should understand and then consider the 3 action steps below:

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AdvisorEngine  |  Financial Advisors  |  Wealth Management

Embracing Small Client Accounts:  Using a Digital Wealth Management Platform to Serve a New Market Segment

“What’s dangerous is not to evolve.” Jeff Bezos Over the past few years, my perspective on serving smaller balance relationships has changed. Whereas I once saw them as cumbersome and expensive to serve, I now view them as a high potential growth area for wealth managers.  Over the last 20+ years, many advisors moved upmarket in large part by raising account minimums and pushing off smaller balance accounts.  I myself subscribed to this strategy - it was a smart, disciplined way to achieve profitable growth.  But the marketplace has changed. Now, by using smart segmentation and digital wealth technology, advisors can profitably cultivate smaller balance relationships.. 

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AdvisorEngine  |  Financial Advisors  |  Technology  |  Wealth Management

Grow and Retain Prospects With Cost-Effective Technology The StoneBridge Way

You know the prospects you want, kids of good clients or spouses with a 401(k); you don’t want to turn them away but how can you serve them cost-effectively? Sophisticated wealth management firms on a growth trajectory—or those seeking to hit a growth stride—are taking a hard look at ways technology can both cut costs and increase efficiency.

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Blog Feature

Data Movement  |  Wealth Management

Cultivating a Culture of Knowledge Sharing at Your Wealth Management Firm

We live in a knowledge economy. Now more than ever, it’s important to cultivate a culture of knowledge sharing at your wealth management firm. 

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Blog Feature

AdvisorEngine  |  Integrations  |  Wealth Management

How AdvisorEngine, Smartleaf and BNY Mellon’s Pershing Integrate for Modern Trading and Rebalancing

If you’re an operations leader at a wealth management firm looking to modernize your trading and rebalancing - you’re in luck. AdvisorEngine has gone live with a new and ambitious trading integration:  an end-to-end trade support cycle that leverages Smartleaf’s model-driven rebalancing capabilities with BNY Mellon’s Pershing technology - combined with AdvisorEngine know-how. AdvisorEngine integrates across multiple custodians, enabling advisors to embrace innovation without disrupting their business.

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Financial Advisors  |  Wealth Management

Remaining Relevant as a Wealth Management Professional Even When You Feel Overwhelmed

It’s no surprise that the most successful financial planners are lifelong learners. But given the rapid pace of change in the industry – and the sheer amount of content out there – keeping up can feel overwhelming at times.  I’ve found plenty of suggestions out there about what to read (for example: check here, or here or here) …but I haven’t read anything written recently about how to learn – especially when you feel intimidated or behind-the-curve. Here are my suggestions on how to conquer learning anxiety.

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Advisor Marketing  |  Financial Advisors  |  Technology  |  Wealth Management

5 Biggest Lessons Learned From Coaching 250+ Financial Advisors

Your prospect’s expectations of working with a Financial Advisor have changed. The digital world we live in today has played - and will continue to play - a large part in how prospects find, select, and hire you to be their financial advisor. We no longer read physical newspapers like we used to. Instead, we use multiple sources of information, sometimes only scanning the headlines, and occasionally reading more in depth. With so many resources available, Investors are making better, more informed buying decisions in all aspects of their lives. I have had the privilege of coaching over 250 Financial Advisors using our AdvisorEngine Kredible model - helping them strengthen their approach to attract clients. I have learned invaluable lessons from these sessions. No matter what approach to financial planning you employ, you can apply these takeaways to your own business. Here are five key lessons I have learned that you could use to think about growing your own business: 

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Advisor Marketing  |  Financial Advisors  |  Wealth Management

Digital Marketing For Financial Advisors: Why It Matters

Here’s a secret - most financial advisors do not use digital marketing effectively. They say things like: 

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AdvisorEngine  |  Data Movement  |  Wealth Management

How Sweet it is: the Process Behind Delivering Wealth Management Data for Advisors and Clients

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Junxure CRM  |  Technology  |  Wealth Management

Christy Rogers Uses Running and Technology to Stay Sharp

This operations and compliance coordinator started running during her lunch breaks. 11 marathons and 75 half-marathons later, Christy Rogers has hit her stride as a leader🏃

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Blog Feature

Financial Advisors  |  Joel Bruckenstein  |  Technology  |  Wealth Management

The Seven Mistakes to Avoid When Selecting Financial Technology

Financial advisors face countless challenges in their daily practices – especially in this day and age. In order to implement a broader technology strategy at your firm, you must approach it from a technology as well as a business standpoint. Analyze how your business can benefit from the use of technology.

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Blog Feature

AdvisorEngine  |  Financial Advisors  |  Technology  |  Wealth Management

A Guide to Wealth Management Technology Costs: How to be a Savvy Buyer

You know that you want to modernize your firm’s technology. But how much does wealth management technology cost? Knowledge is power: after reading this guide, you’ll be a smart buyer – and understand the true ‘all-in’ cost of advisor technology. 10 Factors to Consider Beyond ‘Standard Pricing’ By considering the following ten factors, you’ll make your next technology purchase with your eyes wide open:

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