We are unique in that I come to this from a 23-year background in technology. I have only been a full-time counselor for less than three years. This allows me to work more closely with technology professionals who are skeptical of financial vendors. This is how we are building the business. We're bringing in people with decades of technology experience to become advisors. We are training them here and bringing them up to speed. We learn all the tools and solve them.
CRM: Advises
We centralized with It advises in early 2023. We were using before The treasure box. We liked it. However, we wanted to see if we could live inside a single vehicle. It advises it works fine for 80% to 90% of what we need. We live It advises all day. As customers call or text us, it pops up and we handle it there. We will explore using The treasure box again in the coming months because we like it as a CRM. It provides us with some potential automation opportunities that are undeveloped in Advyzon.
of Advyzon integrations are deep. When I look at client portfolios, it's easy to see actual versus target risks. It details in detail for my planning clients whether they are on track or off track towards the retirement goals we have set for them. That's wonderful.
Reporting and Portfolio Management: Advyzon
We tried to focus everything on the reporting side. We used to use Capitect. However, we received several requests for fees, invoices and statements from the state of Washington that Capitect still needed to have in place. They added it later. They were very responsive to what we needed. But, until then, we had decided to try an all-in-one tool with Advyzon. This works well. Both our fee statements and performance statements are automated quarterly. They are submitted to the client's document file sharing system.
Trading and Rebalancing: Advyzon Quantum
I have a single interface that I can use to see exactly when those last activities and rebalances happened. I can give them details when I am with a client. I don't have to navigate different interfaces. Advyzon is still under development Quantum. There are still some basic use cases that make it more manual than I'd like it to be. It repeats every four to six weeks and we see improvements in new releases.
Document management: Advise
I'm going to sound like a broken record here, but Advyzon is where we store all of our client documents. We have this basic tenant to show our work. As we generate activity for the client, we post it there. It helps drive the use of our customer portal. Many advisors need help getting their clients to visit the client portal. In our case, we record everything we do as a document. It sends the customer an email telling them what document we posted. She pulls them in. We see a ton of entries in ours customer portal.
Financial Planning: RightCapital
Coming from a tech background, I looked at all the different financial planning tools. Right capital it was the only one that clarified what our customers would expect. Since we cater to tech professionals, it was a more modern scheduling app. It allows us to quickly cover the essential bases. We can dive in different modules to help the customer. Most of our customers are busy. We have to plan constantly, but we always want to know the most important opportunities. We then focus on the following two to three points.
Marketing: Levitate
Levitate has been fantastic for us. We looked at other players, and we didn't think that the ready-made content in many of those cases would be attractive to our audience. We found the content of the Levitate advisor to be detailed. It's a great starting point to generate ideas for what to communicate to customers. Levitate is not integrated with Advyzon. This is a pain point for us and a major reason we are looking at Wealthbox again.
As told by reporter Rob Burgess and edited for length and clarity. The views and opinions are not representative of the views of WealthManagement.com.
Want to tell us what's in your possession? Contact Rob Burgess at (email protected).