The wealth management industry continues to experience disruptions that challenge the current way of thinking, forcing financial advisors to adjust and adapt quickly in order to stay relevant. According to Deloitte, one such disruption has been the rise of the rewired investor who tends to think differently than previous generations and expects advisors to do the same (10 Disruptive Trends in Wealth Management, Deloitte 2015). One characteristic of these rewired investors is the expectation that they will be treated as unique individuals and not just part of a segment. Information and advice need to be tailored to these rewired investors.

Clients have a wide number of options to manage their portfolios, so the added pressure to fully understand their financial life goals, relationship networks and households can certainly seem daunting and have an impact on client retention. Lasting client retention is grounded in knowledge about what is truly important to your clients – which extends far beyond money. In order to provide clients with a successful and positive experience, it is important that you understand their unique financial needs and deliver personalized advice that drives trust.


Use Technology for Success


Today, successful advisors utilize the technology available to them to not only improve the client experience, but to customize it as well. According to a Fidelity Investments report, eAdvisors – tech-savvy advisors – have 42 percent higher assets under management than tech-indifferent advisors (Fidelity Finds Number of Tech-Savvy eAdvisors has Grown to 40 Percent; eAdvisors Outperforming Tech-Indifferent Peers, Fidelity 2017).

Technology is integral to supercharging advisor productivity especially when it comes to capturing and tracking all prospect and client interactions in a centralized location. There is too much at stake for an advisor to get caught in a client meeting with missing or incorrect information because it was not properly maintained.  In fact, eighty-one percent of eAdvisors are using a CRM solution to track prospect interactions through a single pane of glass (Setting the Pace: How eAdvisors Elevate the Client Journey and Outperform Peers, Fidelity 2017). Tracking prospect interactions in a CRM tool is critical for success. Using CRM solves the issue of not having detailed, easily accessible client and prospect information in one place. Plus, a CRM solution can help advisors supercharge their productivity so they can spend less time gathering client details and more time developing stronger relationships that span from one generation to the next.

It does not, however, completely solve the problem of gaining a deeper understanding in order to personalize the client experience. This cannot be overlooked and is becoming increasingly more important to individuals when looking for a financial advisor. The 2017 Connected Investor Report from Salesforce notes that of those who use a human financial advisor (as opposed to a robo-advisor), 59% cited that their advisor has a clear understanding of them and their families. This ranks as one of the top reasons for why they felt their advisor is a good fit for them.


Understand Your Clients Using Wealth Intelligence


What if you could easily and quickly learn about the wealth, detailed interests, lifestyle attributes, political affiliation, and charitable giving behavior of clients and prospects so you can tailor your engagements in a way that will resonate with them? Knowing this information can dramatically improve the quality of the interactions you have with your clients while yielding higher close rates and faster throughput.

Accessing this information is now possible using WealthEngine's integration with Salesforce Financial Services Cloud. WealthEngine can provide advisors with valuable and easy-to-access comprehensive wealth insights, giving you what you need to better understand your clients and better identify those with larger portfolios for you to manage.  Powered by Lightning, WE for Salesforce Financial Services Cloud establishes a powerful link between WealthEngine and the Salesforce platform. Wealth Engine builds complete profiles of clients and prospects enabling advisors to drive richer, more personalized engagements throughout their financial life journey. With 50 different data elements available via WealthEngine for Financial Services Cloud, including proprietary wealth scores and ratings, we give you what you need to take your business development efforts to the next level with new insight and productivity:

  • Save time and resources

  • Identify and prioritize individuals to pursue

  • Streamline prospecting efforts

  • Update client and prospect data in real-time



Gaining success as a financial advisor is challenging. With heavy competition and increasing pressure to understand clients and prospects more than ever before, it is crucial to use technology to empower your advising teams with the strongest client data possible. Arm yourself with rich client insights when beginning a new relationship and continue to stay abreast of new information in order to continue building lasting relationships and minimizing client turnover.

Learn more about WealthEngine and see how you can discover more about your clients and prospects to grow your book of business.

Watch this webinar to see a live demo of WealthEngine's integration with Financial Services Cloud.