Building digital experiences for clients
Financial advisers are looking for technology that helps them provide digital experiences for clients that facilitate their discussions with clients, says Michael Raneri of fintech platform AssetMark.
Michael Raneri [00:00:08] Well, the way technology is evolving to meet the needs of RIAs and advisers is really they’re looking not for technology, but they’re looking for digital experiences that really enable that digital journey between the adviser in their investor. So if you think of that digital journey of prospecting, on-boarding, advice delivery, portfolio construction and monitoring, there’s really key moments that matter and satisfaction drivers for each of those stages. And what they’re looking for is enabling features that really help them facilitate that discussion with their clients. The most exciting tool or capability we’re developing really is around financial wellness, financial wellness versus financial planning is really the proactive dialog that an adviser has with their investor. And it’s more about it’s more than building that portfolio and the plan to engage in managing their wealth. But it starts much earlier. It’s early dialog around financial, personal finance, best practices, how they’re doing overall, getting to know their client. That behaves more like a wellness discussion, similar to the way you would engage with your health care provider rather than a specialist. Investors or clients of RIAs are demanding digital experiences and technology, just like they engage with any other business or service provider. And what we need to do at AssetMark as a platform, as a fintech platform is really enable advisers to reach out digitally to their clients. So we don’t consider our experiences only for our advisor. There’s an advisor facing platform that we call the wealth manager, but we also build investor facing technology experiences or digital experiences called investor portal that advisers offer to their clients. Tamps really no longer are just Tamps around creating strategies and service for advisers, they are truly a platform that supports advisers with digital technology, with service and support, as well as investment strategies to support their whole business and help them grow.
