The year of the client portal

Technology companies may be falling behind if they don't offer a client portal in some way, shape or form. The latest platforms serve as an important point of contact between the adviser and client, providing end users the ability to view their portfolios and, in more advanced cases, interact with key financial information. Building better, accessible platforms has been a theme throughout the annual Technology Tools for Today conference in Fort Lauderdale this week, as advisers highlight the importance of a better client experience to stay competitive. Four technology vendors introduced new products, including Capitect, which launched its only product at the conference: a client portal. Unlike most cases, where the portal is an extension of a company's core product — be it financial planning or portfolio management software — Capitech tool integrates with vendors and firms, such as Redtail and TD, to offer clients a view into their accounts. “Every tool has its own client portal,” said Greg Yee, co-founder of Capitect. The company focuses on high net worth clients with complex finances. It also allows advisers to choose model entities to group assets and create ownership for clients of those entities. Advisers can invite client's family members to view limited parts of the portal, which opens up multi-generational client possibilities. “If advisers don't provide this, they'll go somewhere else,” Mr. Yee said. Other companies have touted a new or enhanced client portal. eMoney upgraded their platform to include self-registration and an automated onboarding process. It is also personalizing the experience with features such as allowing clients to add pictures to their goals as they keep track of their progress and a planner that allows clients to prioritize their goals. Junxure, a client relationship management software provider, also revealed its client portal, ClientView, which provides wealth reporting and document management. Greg Friedman, chief executive of Junxure, said that their CRM will continue to integrate with other technology platforms and client portals through its open architecture, but ClientView will pull data from the Junxure system. Panoramix, a financial adviser software provider, launched its client portal at the beginning of this month as well. With it, clients can log in and view their portfolio balances, reports, statements and other documents. There are two ways advisers can look at client portals, said Raef Lee, managing director and head of new services and strategic partnerships at the SEI Advisor Network. The first is a platform that provides clients a way to view their portfolios. The next is the potential it has to be a client-driven site where clients are interacting with advisers. That concept is inspired by robo-advisers. “The client portal piece is being focused on robos,” Mr. Lee said. “This is what they do brilliantly.”