Jeremy has been working at Advicent since June 2012 and has held various roles such as quality assurance analyst, software developer, and business analyst. As a Business Analyst I’ve mainly worked on integrating other external financial systems into Advicent’s planning products (NaviPlan & Figlo). This includes CRM, portfolio management, custodian, and account aggregation systems.
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With increasing regulation in our industry and rapidly changing technology, it is very important for an advisor to truly understand their client’s entire financial situation. By knowing and understanding their holistic financial situation, advisors can ensure that they are making recommendations that are in their client’s best interest. In addition to changing advisor needs, client expectations are shifting. As technology use has increased exponentially, people now expect to access their information from anywhere, at any time, from any device.
As client’s start to prepare and plan for their retirement, their children’s education, or purchasing a home, they will demand the same convenient capability for viewing their financial plan. This means that advisors must be more effective, efficient, and collaborative when creating and managing financial plans.
How can advisors gain insight into their clients' holistic financial situation, including managed and held-away assets?
So how can advisors keep up with not only changing regulation but also the high demand of their client’s needs as well as gather information on their client’s entire financial profile? This is where the advisor can utilize technology in their favor to help build stronger and more collaborative relationships.
With Narrator® Clients powered by NaviPlan®, clients can leverage account aggregation to gather all of their financial accounts into a central location. This ability allows the client to link not only accounts that are managed by their advisor but also held-away accounts into which the advisor does not currently have visibility. Clients receive insight into their entire financial profile and the advisor can upload this information into the client’s financial plan for a more holistic view of their financial future. This helps save both the advisor and client time because clients can link their data on their own. Additionally, this collaborative data entry removes the function of the advisor having to manually enter in this information alone which can take up hours of the advisor’s time.
Account aggregation also provides up-to-date data, instead of advisors and clients having to manually communicate and update information in their financial plan. Narrator Clients account aggregation ultimately answers the question, “How do I get insight into my client’s entire financial profile?”
To read the rest of this Narrator Clients powered by NaviPlan series, visit the following articles:
Part 1: Rapid client onboarding with Narrator Clients powered by NaviPlan
Part 2: Holding more valuable clients meetings with Narrator Clients powered by NaviPlan
Part 3: Building client trust with Narrator Clients powered by NaviPlan
Part 4: Gaining insight into your client’s entire financial profile with Narrator Clients powered by NaviPlan
Click here to learn more about how Narrator Clients can help you improve your digital client experience.