The Wealth Management of the Future Roundtable

Integrating all adviser processes through technology

Nov 20, 2013 @ 12:00 am

Runtime: 4:04

Vin Campagnoli of Raymond James details how technological advances allow advisers to integrate the various parts of their businesses to increase efficiency and better serve clients.

Video Transcript

Technology, as you can imagine, is the enabler for our advisers. You know, technology, when you look at it, it's the tool that's gonna integrate the process for our advisers from looking at a prospect to making them a client, to doing business. It's all about technology. It's not a manual process anymore. It's about how technology drives that in efficient way that makes them much more productive. The challenges are about, you know, how do you satisfy the different advisers with their different business models? Some are, you know, purely transactional base. Some are more advice base. And we're trying to create a much more what I would call nimble technology platform where they can pick and choose the tools that can satisfy their business model instead of technology coming down in a way and saying, "Here's how to use the tools." Give them a choice, let them integrate it, let them customize it to meet their needs. It's a challenge because of their different business models, but it's also an opportunity because if we do it right, then we satisfy the masses. When it comes to building this customized model, it's a-- it starts with reporting. You know, when you look at client reporting, advisers like to distinguish themselves with reporting, how would they present themselves to their clients. So, it's all about giving them choice with what they want to report on. Give them a library of information from soup to nuts that they can select that fits again their business model and represents their model as well as what the clients are looking at from the solutions from that adviser. We have an adviser-- a Technology Advisory Council that I use quite regularly. It's a group of advisers throughout the country, very different businesses, very different business models that we leverage them to help us to provide that type of customization, what needs to be in there that will satisfy sort of across the board their business models. We wanna provide more intelligence into the platform. A number of firms are looking at, and you see it in the industries, search is a big thing. I wanna flip it around and we're providing intelligence where we start to create some of what the advisers are looking at and searching for and start to push that data to them where, based on their business practice, based on the things that they wanna say, we provide that intelligence behind the scenes and it's sort of their virtual assistant in the background that's working for them and driving information, giving them reasons to call their clients, giving them the reasons to react to certain conditions that are happening in the portfolio and the market. Just make the system more intelligent than I think a lot of the platforms are today.


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