The days when a spreadsheet and a calculator sufficed for managing clients’ portfolios are long gone. As financial markets evolve, client expectations rise and regulatory demands intensify, embracing technological advancements has become more than just a mere choice – it’s a necessity.
In today’s competitive landscape, the right tech tools can empower your RIA to streamline operations, reduce risks and unleash your (and your clients’) full potential. To help you manage your firm like an enterprise-level organization, Amplify’s all-in-one wealth management platform includes two game-changing solutions: Enterprise iQ and Advisor HUB.
Let’s explore how Enterprise iQ and Advisor HUB can empower your firm for scalable, sustainable growth.
Enterprise iQ
Imagine having a total, enterprise-level view of your RIA business data and trends at your fingertips, enabling you to make informed decisions with confidence – that’s exactly what Enterprise iQ offers.
The cloud-based business intelligence system provides a total view of your business’ data and trends, so you can make informed, data-driven decisions. Regardless of how many advisors you have working under your firm’s umbrella, you can easily view all their data with a push of a button through our all-in-one RIA Operating System, or ROS.
Enterprise iQ provides a solution for portfolio modeling, risk management and even custodial interactions. With both modular and full integration options, this system scales effortlessly, preserving both usability and functionality for your key decision-makers so you can grow without sacrificing usability or functionality.
Comprehensive insights, immeasurable benefits
By adopting Enterprise iQ, you can truly run your RIA firm like an enterprise, optimizing processes without the burden of integrating disparate systems.
Other benefits include:
- Data and systems that support proactivity rather than creativity
- A system that helps you identify areas of improvement
- A holistic view of client data through seamless account aggregation, providing you with the insights needed to enhance your clients’ financial journeys.
Advisor HUB
What would it be like for each advisor in your firm to have access to specific client insights at the click of a button? Would they be able to give more personalized advice, or easily send clients relevant and timely content? How would those tools help your firm grow and bring on new clients successfully?
A recent study shows that personalization for wealth management customers is more important than ever, with “72 percent of consumers reporting that having a financial planner who understands their financial stress and works with them to find ways to lessen it is the most important aspect of personalization. This includes factoring in all the client’s life circumstances, both financial and non-financial.”
Your clients are worried about their financial futures, and they’re looking to you for answers.
For RIAs seeking to elevate client relationships while scaling their practices, Advisor HUB’s tools and data offer the ultimate solution.
This tool empowers advisors, providing a comprehensive and straightforward interface tailored to individual needs. Whether you wish to view your entire book of business in a single space or spot trends instantaneously, Advisor HUB has got you covered.
Unmatched benefits for your firm
With all your business intelligence tools in one place, you can access your book-of-business, portfolio and client data in seconds, gaining a 360-degree view of consumable data. Armed with these valuable insights, you can now make informed decisions that strengthen client relationships and drive your practice forward.
Plus, having siloed systems leaves more opportunities for cybersecurity risks or data errors. With everything in one, secure place, Advisor HUB eliminates those risks.
The importance of client retention
In the highly competitive world of financial planning, client retention plays a crucial role in determining the long-term success and growth of an RIA firm. While attracting new clients is essential, retaining existing clients is equally, if not more, valuable.
This becomes even more important as we consider changing trends: While older clients tend to stay with their advisor long-term (50 year olds clients have a 90% retention rate), younger generations are more likely to fire their advisor or seek out a new advisor (30 year old clients drop to an 82% retention rate) .
As the Great Wealth Transfer continues to drive younger clients into the consumer space, more advisors will struggle with keeping up their retention numbers.
To effectively achieve higher client retention rates, RIAs must prioritize personalized services, tailored advice, and a seamless client experience. Amplify’s Advisor HUB equips advisors with the necessary tools to deepen client relationships by providing specific client insights.
As you embark on your journey to RIA success and growth, embracing the transformative capabilities of business intelligence technology for financial advisors with Enterprise iQ and Advisor HUB can be your key to a competitive edge. Streamline your operations, elevate client experiences, and make well-informed decisions with Amplify’s powerful technology.
Embrace New Tech. Amplify Your Results.
Ready to learn more about Amplify’s next-gen tech solutions for RIAs? Schedule a complimentary demo of Amplify today to get started.
