More than the Sum of Its Parts: How Personalized Asset Management Software Can Improve Your Business


Financial advisors exist in an industry of change. Where once filing cabinets and conventional databases were the tools of the trade for wealth management professionals, new technologies are changing how things are done, as well as what kinds of tasks are possible. These advancements are extending the reach of financial advisors well beyond what was possible even a decade ago, and successful advisors are adapting alongside them.

Most financial advisors believe that staying up-to-date on digital capabilities is the key to ongoing success, but which new technologies offer the best advantages to the investment industry?

Two of the biggest obstacles that wealth management professionals face are keeping track of data and effectively communicating with clients. With this in mind, the most useful, advantageous tools for financial advisors are those that help them use data collection and analysis to effectively build client relationships.

To accomplish these goals, successful financial advisors rely on financial asset management software.

What is asset management software?

At its simplest, asset management software is software used to deploy, operate, maintain, or liquidate assets. More specifically, it refers to digital tools used by wealth management professionals. However, with personal asset management software becoming ever more available, even nonprofessionals are beginning to take advantage of various forms of this software.

For example, robo advisors — automated wealth management systems, generally accessed via the internet, that provide data analysis and portfolio management advice — are inciting interest among nontraditional investors. Gen Xers make up more than a third of all robo advisor users, with Millennials accounting for approximately one-fourth. This suggests that the younger, tech-friendly generations are poised to become a new power in the financial industry, and will be much more inclined to take advantage of the benefits offered by asset performance management software.

What can asset management financial software do for you?

But what are these benefits, and how can they help you get the most out of your efforts? Well, given that the industry is currently in the process of switching generational hands as younger investors and advisors take the reins, there is a need for wealth management options that are increasingly mobile and connected.

Direct collaboration between asset management professionals and their clients is becoming a necessity. In fact, 63% of investment clients want to be more involved in investment decisions, and would prefer to work more collaboratively with their advisors. Asset management software connects advisor teams to their clients, and free up advisors’ time by automating manual processes and administrative tasks. This is made possible thanks to customer relationship management (CRM) technology.

CRM technology consolidates wealth data from multiple sources into a single view, making it easier for an advisor to spend less time gathering client information and more time strengthening relationships. CRM also makes it possible for advisors to create data-driven client profiles filled with the valuable client information which can be used to provide a more complete, unified view of a client’s needs.

Improved productivity is a second advantage offered by effective asset management software. After all, there are only so many hours in a day; finding success as a financial advisor depends largely on getting the most out of your time. Process automation can help advisors improve their productivity, but the real key to productivity lies with advanced, intuitive tools.

Scheduling and reminder programs help keep advisors on track, and proactive task prioritization ensures that you are always handling the most pressing business first. Account segmentation and contact alerts allow advisors to manage a large number of clients at once. A cloud-based, CRM-enhanced financial software asset management solution optimizes information sharing, giving every authorized user instant access to real-time client data in order to provide a seamless, consistent client experience.

Finally, for an asset management system to be truly productive, it needs to be able to address the unique needs of your business. Flexible financial asset management software, open source code, and the ability to customize, configure, and implement third-party enhancement apps can extend an advisor’s productivity well beyond what is possible with an out-of-the-box solution. The result is the ability to handle more clients and spend more time working with each of them.

Use Salesforce Financial Services Cloud for your asset management needs.

With CRM technology playing such an important part in asset management, Salesforce — the world leader in cloud-based CRM technology — is at the forefront of the industry. Salesforce Financial Services Cloud is built upon a platform that, more than anything else, empowers advisors to keep focused on their clients.

Financial Services Cloud gives advisors the information they need, in order to give their clients the level of service they desire. It does this through advanced automation options, direct communication tools, and superior real-time data analysis capabilities and accessibility. And with software and third-party applications that are flexible, configurable, and customizable, it rivals any standard open-source financial asset management software on the market.

Financial Services Cloud is completely cloud-based, meaning that you’ll be able to collaborate with your team and your clients from anywhere in the world, from any device. Access a comprehensive view of your clients from the Advisor Homepage, updated in real time to reflect the most current data available, and see your workload at a glance, thanks to intelligent lists compiled from all of your leads and opportunities. And, because your business is unique, take advantage of Lightning App Builder’s drag-and-drop tools to customize Financial Services Cloud to fit your needs.

Tableau CRM for Financial Services Cloud unlocks insights across your entire book of business, giving you the ability to visualize relevant data in the context of client goals. This, in conjunction with rich client profiles, gives advisors the power to get to know their clients, accessing financial accounts, household relationship data, life goals, and more.

Additionally, Salesforce recognizes that maintaining regulatory compliance is a major part of the job. Salesforce Financial Services Cloud helps ensure that you and your team are completely up to date on any and all regulations, so that you can focus on what matters most — your relationship with your clients.

The Sum of Its Parts

Financial Services Cloud has the features and tools you need to help clients grow assets and better manage your book of business. At the same time, it is built upon a reliable, time-proven platform that has been shown to deliver an average five-year ROI of 478%. In short, Financial Services Cloud is more than the sum of its parts; it’s a powerful, full-service asset management solution that can bring wealth managers and clients into the new millennium.

See how Trilogy Financial achieved a 147% ROI with Financial Services Cloud.

Take the next step.

Contact us to talk about our next-gen tools for financial services, including the Financial Services Cloud. We’ll help you set up a strategy to start connecting with clients like never before.