Advisory Firm Success Story

PROBLEM TO SOLVE:

   •    No time to network for more business
   •    Unable to attract an advisor to join firm, due to lack of processes and technology
   •    Staff overloaded with work

 

SOLUTIONS RECOMMENDED & IMPLEMENTED by COO

CRM: Junxure to Redtail CRM
DOC MGMT: migrated from server to Net Documents and integrated with Redtail
PORT MGMT: Implemented Portfolio Center and All Back Office with Reportal for Advisor Portfolio and integrated with Redtail
EMAIL: Moved from Live Office to Microsoft Exchange
FINANCIAL PLANNING: Implemented Money Guide Pro and integrated with Redtail
HARDWARE: installed dual monitors, Adobe systems with password protection, Twain scanners, new internet carrier and eliminated server
STAFF: hired a planner and marketing/administrative assistance.
OUTSOURCED: compliance, website, and portfolio accounting/reporting/billing
PROCESSES: Lead to Prospect, Prospect to Client, New Client On Boarding, Annual Client Review, Annual Compliance, Financial Plan Prep, and Investment Reporting.

 

SUCCESS!

WITHIN THE YEAR:
 
   •    AUM growth from $74 million to $101 million
   •    Attracted 2 full time, highly qualified staff
   •    Owner gained time and energy to service clients, manage the business & network
         for new business



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