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5 contributions to ProAdvisorSuite
Great example of how AI can transform Financial Advice
An excellent of the potential of AI to transform WealthManagement is this example of an AI from TIFIN AG highlighting to RBC Wealth Management that a client has had a major change in their life, specifically inheriting circa $1mn. Worth reading the details in this great story by Dan Shaw of Financial Planning. How far have you developed your plans to deploy AI in your firm? What are your favourite AI services? Please add your thoughts in the comments below. https://www.financial-planning.com/news/rbc-turns-to-ai-to-capture-more-of-clients-wallet-share
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New comment Mar 7
0 likes • Mar 7
I've not looked at wealthfeed @Joe Moss , do you have a link to it?
1 like • Mar 7
OK I found it. It's similar but explicitly surfaces data about your own clients. That said it's a bespoke delivery for RBC. Although the article does give other examples of users.
Data, Forms, CRM, Data Ownership...
This post is going to be about data. It may sound boring... But I think it's actually quite important. Yesterday I had an intriguing conversation with Rick Burgess about data gathering, forms, CRMs, data flow... First and foremost there must be a single source of truth for data. Working with @Kate Guillen of Simplicity Ops for two years, I know that it should be the CRM. The CRM is the hub - everything flows from there. But lets think about this. Where does the data start? It starts with the client - they know their name, SSN, DOB, address etc. That data needs to get from the client to the CRM, ideally as efficiently as possible without multiple re-keyings. Enter tools like PreciseFP and OnBord which help to collect data from the client and push it to the CRM. PreciseFP has its own database, OnBord does not, it just pushes directly to the CRM. This part starts to get tricky, because when you have multiple databases with redundant data, then you start running into overwriting issues. Data entered into PreciseFP may overwrite something in your CRM, or data in your CRM may overwrite some financial planning data that's been painstakingly entered into your financial planning tool. I love the clean integration between OnBord and CRM where as soon as a field is filled out, it gets sent to the CRM so there is just one database... but... maybe something still gets overwritten, maybe the CRM is a mess. Who owns the data ON the form? Because more often than not, the data on the last best form that was filled out is the most accurate data. The CRM may or may not have been updated, or all the other places data was pulled to fill out that last best form.
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New comment Apr 10
1 like • Feb 28
Interesting @Joe Moss I am seeing a growing number of firms looking to establish their own data lakes to put them in more control of their data rather than keeping it in the CRM. There is a strong argument that other sources e.g. Cashflow Planning and Portfolio Rebalancing tools are better placed to aggregate certain types of data.
1 like • Mar 6
@Joe Moss continuing the discussion on data lakes, one of the main financial planning tool providers in the UK, Dynamic Planner, yesterday announced that they are adding a date lake to their product, so that Advisers can manage far wider data about their clients.
New AdvisorTech survey question
I'm creating an advisortech survey, and a thought I had was to include ratings (out of 5) next to the tech options - based on ratings from the T3 and Kitces surveys. What do you think?
Poll
12 members have voted
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New comment Feb 26
New AdvisorTech survey question
1 like • Feb 26
Forgive my ignorance but what is G2 please?
1 like • Feb 26
Thanks @Joe Moss we have this as a work in progress for the UK market.
Good Practice and Due Diligence Using Artificial Intelligence in Financial Advice
We will be running a session on the above at noon UK time tomorrow, so it’s 7 am East Coast, 4 am may be a bit early for the West Coast and while it is built around UK requirements the Corp principles of both good practice and due diligence probably should be the same globally. If you would like to join please click the link below, it’s free. https://www.tickettailor.com/events/thefinancialtechnologyresearchcentrelimited/1147295
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New comment Feb 21
List of AdvisorTech consultants - sponsored by Bento Engine*
Today I posted a list of AdvisorTech consultants on LinkedIn here. My goal for this list is to be a resource to firms that are looking to consolidate, transition, or optimize their AdvisorTech stack! Listed by LinkedIn follower count: - @Michael Kitces - 78,327 - @Ian McKenna - 23,520 - @Marc Butler - 15,182 - John O'Connell - 13,937 - @Jason Pereira - 9,713 - Joel Bruckenstein - 8,750 - Craig Iskowitz - 7,112 - Cameo Roberson - 5,780 - Kristen Schmidt - 4,836 - Bob Veres - 3,609 - @Michelle Odom - 2,647 - Charesse Spiller - 2,464 - Michael Whitman - 2,104 - @Stephanie Dannebaum - 2,033 - @Kate Guillen - 1,746 - Jessica Jones - @Heath Jackson - 1,578 - @James Cantwell - 1,567 - @Verity Larsen - 1,025 - @Arielle Minicozzi - 922 - @Nico DeMaio - 902 - Tad Herrington - 800 - @Meghan Rutherford - 582 - @Cooper Shubert - 537 - Jeff Rusin - 317 *Bento Engine is how you deliver advice to clients Proactively. Once set up, you'll automatically receive reminders in your CRM to reach out to clients/prospects about upcoming milestones along with all the information you need to deliver the best advice. Schedule a demo with Bento or reach out to advisor @Russ Thornton about his experience using Bento with his clients.
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New comment Feb 22
List of AdvisorTech consultants - sponsored by Bento Engine*
1 like • Feb 21
Honoured to be included in this list @Joe Moss and may I say great work you are doing here. We do operate a site AdviserSoftware.com which while it started as a UK endeavour we are now evolving in to a global summary of everything to do with advice tech so. It is free for advisers to use but you do need to register. Equally any tech suppliers we are not yet featuring, if you would to be included, to be clear we do not charge for this, but we do put companies through a process to assess and understand their products, please drop me a line. If I can help generally with anyone who would like an understanding of the booming UK advice tech market again please don't hesitate to drop me a line.
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Ian McKenna
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8points to level up
@ian-mckenna-2015
Global Fintech Analyst and Founder of AdviserSoftware.com dedicated to identifying technology that can transform how advisers can work with clients.

Active 10d ago
Joined Feb 2, 2024
London & Globally
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