A series of technology-focused presentations for new products and services you can visualize integrating into your workflows.
Transcript :
Taylor Lundberg (00:06):
Okay, we are going to go ahead and get started. Hello everyone. Thank you so much for being here and for watching our demo. We are really excited to take you through our new platform system. I am Taylor Lundberg, our Head of Sales for system.
Danny (00:20):
I am Danny. I Lead Product Management
Taylor Lundberg (00:22):
System and what we are going to show you today is a brand new all-in-one platform designed for RIAs and wealth management firms. So quick show of hands, who in here is affiliated in some way with either an RIA or broker dealer or wealth manager of sorts? Okay, great. So it will be especially relevant for you, but hopefully relevant for others as well as you kind of get a look at what we are changing in terms of the wealth management technology that's out there. So before we actually get into the demo, just a little bit of a backstory around how system came to be. Although we are a new company that launched earlier this year, we are backed by two very established players in this space. The first is InvestCloud, which is a digital technology provider. White labeling solutions for a lot of the largest firms out there like Raymond James and Neuberger Berman.
(01:13)
And our second partner is William Blair, specifically their private wealth management group. So that's a team of over a hundred advisors managing 60 billion in assets across the us. And these two companies came together to create system because they felt there was a need in the marketplace for a more integrated, centralized platform for wealth managers to be more successful. The two differentiators that I hope we can highlight today and that I want to leave you with are each brought one differentiator per partner. So InvestCloud delivers the differentiator of data integration, their technology, which you see on the screen, not only beautiful, but it's incredibly powerful as well. It normalizes all of your client data from multiple sources, custodians, databases, etcetera, into a single database. So you have one source of truth that's powering all of the capabilities you see on the left hand side planning client portal, CRM.
(02:08)
It really helps eliminate the data integration challenges that you might be faced with today. And our second differentiator is brought to us through our relationship with William Blair. I mentioned those a hundred plus advisors that really helped dictate and guide the product roadmap and vision for this tool. They sit in the seats that a lot of you sit in every day and they knew what the technology needed to be like to really be more successful for them. So our tagline is built for advisors by advisors, and we hope that comes through in the demo. All right, let's jump in. So the first dashboard that will show you, or the first capability is a set of dashboards that allows you to be much more effective and proactive as an advisor. So we'll start with our command center and you can start to see here how all of that centralized data comes together to help you be more efficient.
(02:59)
It aggregates insights across your book of business, new AUM that's coming in closed sales. We are going a step further than just, whose birthday is it tomorrow with some of these alerts and upcoming tasks that you may have. Another awesome capability that was built in here was done through our behavioral science team through the next best action element. So you start to see it not only is consolidated data powerful, but the insights you can glean from having all that data in one place to make it much more actionable becomes really helpful as well. Our clients love these dashboards because it takes the guesswork out of where to start their day each day. Additionally, when we step over into our second dashboard advisor intelligence, you can see how this extends into the client relationship. So what you are looking at here are insights that are gleaned from what the client is doing in their client portal.
(03:56)
Again, it's a fully integrated solution. We can take and pull actions that the client might be taking in their client portal such as searches that they are performing or articles that they are reading. A great example of this in terms of how you could use it to strengthen your relationship with them would be maybe you see one of your clients has been performing a lot of research on climate change or sustainable investing. You could use that as a trigger point to reach out to them and say, Hey, I saw you are interested in this topic. Would you be interested in taking a look at your investment portfolio and maybe tilting it a little bit more towards sustainable products. So just an example of how you can actually start to use this data to improve your business.
(04:38)
All right, speaking of it's kind of searching for investment products, we'll move over to our next key capability we wanted to show you, and that's our product marketplace. So the product marketplace is really designed to give you two things, ease of use and speed when it comes to selecting the right products for your clients and due diligence and research. So the confidence that the products you are selecting have been vetted and are really the best products for your clients. We call it a marketplace intentionally. There is lots of different types of products available through here. So the vetted third party SMAs that I mentioned, your own firm run models. So there is trading and rebalancing functionality that makes it easier to manage your models. We have protective investments and structured products through our partnership with Halo and alternatives from plus subscribe to really help round out the choice and flexibility that'll allow you to build a diversified portfolio for your clients.
(05:36)
So after you have kind of taken a view at the marketplace, if we move into the search functionality, this was an area where we really took the William Blair advisors feedback on where there is room for improvement. They felt a lot of the existing Ts or managed accounts platforms out there provided actually too much choice. Maybe you are trying to whittle down this universe by clicking on the large growth category, but you might end up with hundreds of results still. That puts quite a bit of onus still on the advisor to perform additional research and due diligence, and it tends to slow down that process. So with system, we are intentionally different. We are a boutique provider of these products, and we can stand by the dedicated consulting services team of CFAs that's performing due diligence and really helping make sure that when you do try to whittle down the universe, you are met with a select list of high conviction options.
(06:33)
All right, once you have found a strategy that you are interested in, we'll take a look at again, how that integration and consolidation comes into play here. You know, can see on the screen all of the relevant performance and risk statistics that you might need to look at in terms of making a decision. But on top of that, which a lot of this is actually powered through our partnership with Morningstar, a lot of the helpful information that we provide here can also be provided by the asset manager as well. So that's an area where we felt like there was again room for improvement. The asset manager has the ability to provide a lot of value added content to you as the advisor, but sometimes the forum to get you that information wasn't in integrated or it was through a separate source. So here we have everything from the asset manager, compliance documentation, digital media, thought leadership available for use. Okay, last thing I wanted to mention is from a compliance perspective, this really helps kind of seamlessly improve the compliance requirements that you may have to provide to a client when you are making a change instead of having to send them that information. All of this is again tied into their client portal, so you are checking the compliance boxes without burdening your clients.
(07:54)
All right. Speaking of kind of client engagement and client portals, we know that financial planning is an important part of solidifying that client advisor experience. So that's the last module that we were planning to show you today when we were developing our planning capability. And of course, in addition to integrating it with all the other functionalities that we make available in system, we knew it really had to be two things, and this is what we heard from our advisors. One robust, it had to be sophisticated enough to handle more complex situations, but it also had to be easy to use and intuitive. Sometimes you get one of those, but not both. And so what we built here is both a cashflow and goals-based planning module. This actually came historically from our tech partner Invest Cloud's acquisition of NaviPlan. And so what you can see here is there is tons of rich functionality.
(08:50)
Again, this flows through to the client portal and ensures that the advisor has the tools need to really support that client from a planning perspective. Some of the advanced capabilities I mentioned are net worth planning, tax and estate planning as well. So it's designed to eliminate the need to ever have to switch planning tools based on what your client needs. Last thing I will mention in terms of the goals timeline that Danny has up here. There is some really awesome client engagement tools built into this too. So from the client portal perspective, they can actually come in and add some of these life goals as they are being developed in real time over the dinner table. Maybe there is a vacation home that's been identified as a new goal. The client through their client portal, which also has a mobile app, can easily go in, add that in, and as the advisor, you are notified instantaneously that a new goal has been added.
(09:42)
So that does two things. It makes you more informed as the advisor. You can be proactive with that information, but it also allows for your clients to be much more engaged in their financial lives. So that was just a preview of some of the key capabilities that we have available through system. Again, there is tons of other functionality here since it's designed to be your all in one, but hopefully you can see the power of integration and the fact that we were built for advisors by advisors and how that could potentially help you in your practice. So feel free to stop by our booth if you have any questions, and thank you.