AdvisorEngine, a provider of CRM and portfolio management tools for wealth managers, announced the rebranding of customer relationship management platform Junxure, the company’s marquee technology acquisition in 2018.
The upgraded system will continue to be offered as a stand-alone product, priced per user, in line with AdvisorEngine’s open-architecture approach to working with financial advisory firms.
The product is now branded as AdvisorEngine CRM.
Almost nine in 10 wealth management firms used CRMs, the highest rate of adoption among the core technology applications surveyed in the InvestmentNews’ 2020 Adviser Technology Study. Junxure was the third most used provider, with 16% of all advisers surveyed using the platform, behind Redtail with 26% and Salesforce with 21%.
“This is a key milestone moment for our clients and our team,” AdvisorEngine CEO Rich Cancro said in a statement. “We’ve gone through a true product transformation by developing a new technical architecture, designing an entirely reimagined user experience and adding important new capabilities to drive advisory firm growth and productivity.”
When Franklin Templeton acquired AdvisorEngine in May 2020, it said a major emphasis would be the development of its automation capabilities and specifically the company’s Junxure platform.
The upgrade includes new features like online prospecting tools that help advisers turn website visitors into leads, a client profile interface with an editable content screen and notification alerts with reminders about client outreach, according to a release.
Personalization was also a key motivator of the upgrade, the company said. Drag-and-drop editing gives users the flexibility to organize data, create workflows and support a client service segmentation strategy.
The announcement is the culmination of a multiyear initiative to modernize Junxure CRM after its acquisition in 2018. The first stage focused on infrastructure upgrades, including security and application hosting, AdvisorEngine said.
The Junxure CRM was originally created in 1999 and has a long history in wealth management, as well as a significant legacy customer base.
“Today’s announcement reflects four years of hard work coming to fruition,” said Craig Ramsey, chief operating officer at AdvisorEngine. “It is rewarding to continue that strong legacy and infuse it with new innovation.”
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