Wealthtech Insider

In an industry where personal relationships are the backbone of how advisors interact with many clients, the value of a CRM is central to the service provided by an advisor and their team. Forrester Research found that of companies who use a CRM, 74% of them report better customer relationships. You can draw your own conclusions, but the evidence supports that a good CRM plays a pivotal role in growth and building long lasting relationships with clients.

The role of an advisor has shifted rapidly in recent years. Investors no longer approach them to “beat the market” or to perform the kind of stand-alone asset management that has quickly become commoditized in our industry. Now, our clients need our help to get them to their financial goals.

Even before the pandemic upended traditional prospecting channels, many advisors saw the potential advantages of embracing social media. Facebook alone had more than 2.7 billion monthly active users in 2020. But it hasn’t always been obvious to our industry what could - and should - be done with social media.

Once upon a time, advisors measured success with benchmarks, indices, and market returns. They’re still important, and robust performance reporting and portfolio management technology will always have a place in an advisor’s arsenal. But that’s no longer enough.

Months of pent-up entrepreneurial demand and the flexibility of on-demand, remote service have set the stage for a surge in breakaway activity. A good communications plan and a thoughtful tech stack are essential for advisors who want to preserve as many of their client relationships as possible after their leap to independence.

For far too long, financial advisors have led with proprietary product pitches or the assertion that they can outperform the market through superior investment acumen.

Orion Advisor Solutions has announced the acquisition of Atlanta area-based wealthtech firm HiddenLevers, a risk analysis, investment process, and executive oversight platform serving the asset management and wealth sectors.

As we approach the one-year mark since the onset of COVID-19, it's an opportune time to reflect on all that has changed in the financial advice industry and more importantly, what comes next.

The biggest advantage of nurture emails is that they allow you to get hyper-specific with your message. Instead of sending a general broadcast email like a newsletter, you can send only content relevant to a person’s interests.

Users of Omaha-based Orion Advisor Solution’s wealth management platform will now have access to cash management and lending solutions for their client thanks to a partnership with New York-based Focus Financial Partners.