AssetMark Inc., a turnkey asset management platform for wealth managers, is betting improved technology will help advisers boost client acquisition and assets under management in a post-pandemic world.
AssetMark, the third leading TAMP by assets, this week announced the launch of two new tools to help advisers find and land new clients.
Advisers are increasingly leaning on technology to look for new clients virtually. In a recent study by Broadridge and FSI, 83% of advisers said better technology would greatly enhance new client acquisition, and 32% wanted to reach clients outside of their current geographic location through virtual tools.
[More: 10 largest TAMPs by assets]
“As investors become increasingly accustomed and preferential to managing much of their financial lives digitally, advisers need to be able to engage with potential clients,” said Michael Raneri, chief digital innovation officer at AssetMark.
The company’s WealthBuilder Prospecting tool, announced Monday, gives greater insights into prospective clients through a unique URL that can be embedded on websites or in marketing emails. After the link is clicked, advisers can learn more about the preferences and interests of those prospective clients.
“While digital prospecting hasn’t necessarily changed since the pandemic began, people’s willingness to engage online certainly has,” Raneri said in an email.
The prospects then have the option to engage directly with advisers, who also receive an alert whenever someone completes the process, according to a release.
“Like we’ve seen with other pandemic-related shifts such as remote working and digital learning, there’s been an acceleration in the average person’s preference to engage with a financial adviser online,” said Raneri.
Digital marketing is another major area where advisers have indicated they would increase their technology spend. Nearly 50% of advisers surveyed said they would boost digital marketing spending, according to InvestmentNews’ 2020 Adviser Technology Study.
AssetMark’s Marketing Advantage platform, announced Thursday, makes a host of videos, articles, emails, social media and infographics available to advisers with an available integration into an existing customer relationship management system, according to a release.
AssetMark had roughly $89.8 billion in platform assets as of November.
“The remote environment has been an adjustment for everyone, and advisers are not exempt,” Raneri said. “For some, it’s been a bigger adjustment than others.”
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
