How to boost your Advisor Productivity and Client Engagement with Cloud Peritus' Wealth Management Solutions?

Wealth Advisors are always looking for better ways to manage relationships with their clients through tailored solutions that meet the regulatory requirements.

THE CHALLENGE

Over the next few years, the largest and most affluent generations will continue to transfer their wealth to younger generations. And, as studies show, many of these inheritors are expected to shop for new, tech-savvy financial advisors who can provide them with fast, accurate, and consistent client experiences across any channel of their choosing. With many tech-savvy tools available for the younger generations to choose from for their wealth needs, traditional wealth advisors will need a digital presence and tools at their disposal for the retention and acquisition of such multi-generational clients. Similarly, RIAs and other advisors will also need intelligent tools suggesting/recommending contextual next best actions for lead generation, and customer loyalty all while adhering to regulatory compliance requirements.

THE SOLUTION

With a wide range of asset classes to address, it is a common scenario for a client (individual/institutional investors) to be working with multiple advisors on their diversified portfolios (traditional/brokerage, alternative investments (e.g, private lending, REIT, private equity)). There are several manual, semi-manual redundant tasks that an advisor currently tackles in their daily workflow that can be automated. E.g., client onboarding, KYC and risk tolerance questionnaire can be collaborated on via the “Client Engagement Portal✢”. The responses from the client are auto-populated into the CRM, eliminating manual data entry steps for the advisor.

The time spent by investment/wealth advisors on prioritizing/managing their day-to-day tasks can be significantly improved through “Priority View✢”. The attributes used to classify the data that appears in the Priority View are flexible and enable the end-user to customize it to their preference. Tasks and events can be auto-created for easy follow-ups with the client (scheduling a call, ensuring a life event is appropriately appreciated) which leads to better client experience and drives CSAT metrics. “Referral management✢” across different lines of business, which is a common scenario, can be made more seamless with automated advisor assignments based on client tiering. Lastly, “New Client Identification✢” sourced through signals/opportunities intuitively surfaced to the wealth advisors through efficient tracking of households, and peripheral connections (e.g., related contacts of the clients like their attorneys, other related households, and family members). The “Discover Relationships Hub✢'' also empowers them to find the best route to reach the potential client through intermediaries within and outside their network.

THE RESULT

By harnessing the potential of technology, wealth advisors can elevate client relationships and experiences, fostering stronger customer loyalty among younger generations and ultimately leading to increased customer retention. Implementing process automation and enhancements lead to a substantial decrease in the duration of new client acquisition cycles.

For more information on our Salesforce solutions, please contact info@cloudperitus.com.

‍✢Indicates Cloud Peritus Solution Accelerators for Wealth & Asset Management.