Other Updates for the First Quarter of 2023 Include Digital Onboarding
Enhancements and Integrations with Envestnet
WESTON, Mass.--(BUSINESS WIRE)--#Data--Advisor360°, a leading provider of integrated technology for broker-dealers and other wealth managers, has passed the one million mark milestone for its 1-Click Reviews® feature, with 1,023,342 Reviews run over the past year as of March 31, 2023. In addition, the company has expanded other features on its platform for existing and new clients.
1-Click Reviews, part of the Reporting Solution on Advisor360°’s wealth management platform, enables users to compile and analyze information from multiple sources into a customized report package with one click, completing what would take hours of work and research with other solutions in a matter of seconds. 1-Click Reviews can be run at the account, household, or practice level.
Advisor360°’s Connected Wealth Report found that financial advisors spend, on average, two hours preparing reports for each client meeting.
“Financial professionals affiliated with MassMutual typically save hours each week using 1-Click Reviews when preparing reports for client meetings, which has profoundly improved their level of service to their clients as well as their overall productivity,” said John Vaccaro, Head of MassMutual Financial Advisors. “The feature dramatically reduces the amount of time it takes to prepare comprehensive cross-product reports for clients, enabling financial professionals to reach more people who need what they have to offer. There’s nothing else like this available anywhere.”
In the first quarter of 2023, Advisor360° users ran 220,037 1-Click Reviews. The three most popular reports generated during this time were the Consolidated Statement, Portfolio Summary and Performance Summary reports. The feature is powered by Advisor360°'s Unified Data Fabric™, which consolidates and unifies all types of data from hundreds of sources into one seamless data layer that advisors can use in client reporting, financial plans, and proposals.
“There are many reasons why 1-Click Reviews increase advisor efficiency, but it all boils down to this: 1-Click Reviews synthesize detailed information across product and report types in a way that’s immediately reconciled and personalized for each advisor to tell the story that they want to tell to their clients,” said Suzanne Bohs, Vice President of Product at Advisor360°. “1-Click Reviews save time and resources by distilling complex information into bundles of client-ready reports, across investment, insurance, and banking products.”
In addition to reaching the one million 1-Click Reviews milestone, Advisor360° continued to expand its wealth management platform in other ways during the first quarter of the year.
Enhancements to Account Opening and Maintenance
Advisor360°’s award-winning Digital Onboarding capability is now equipped with a new multiple transfer functionality so that new accounts can be funded even faster. The enhancement enables users to fund new accounts with asset transfers from multiple sources and collect all necessary data within Digital Onboarding. A unique transfer of assets (TOA) form now prompts each transfer with necessary information pre-populated.
The company also completed its integration with Envestnet | Yodlee® for its data aggregation backbone. The account aggregation engine allows Advisor360° to support new aggregated account types, including real estate and cryptocurrency.
In addition, Advisor360° platform now offers links to Envestnet’s managed accounts platform, providing advisors streamlined access to advisor desktop, proposals, models, research, and service requests as well as performance information for SMA/UMA accounts leveraging Envestnet's APIs.
"We are excited to partner with Advisor360°; the integration of Envestnet's capabilities into the Advisor360° platform will equip their advisors with powerful tools to gain a more comprehensive understanding of their client's financial well-being," said Dawn McBratney, Head of Data and Analytics Wealth Sales for Envestnet. "By empowering advisors to take a holistic approach to financial planning, they can drive better outcomes and help their clients live a more Intelligent Financial Life."
“We continue to evolve the Advisor360° ecosystem so that broker-dealers can deliver deeply connected data, product and wealth information to their advisors and end clients,” said Bohs. “The Advisor360° platform is designed to equip wealth managers and insurance agents with the open and integrated connections to the data and tools needed to serve clients well.”
Advisor360°, builds, integrates, and delivers technology for wealth management firms. The company’s award-winning integrated and open architecture SaaS platform brings a connected digital wealth experience to financial advisors, their clients, and the home office so that firms can drive better outcomes and innovate quickly. Advisor360° clients benefit from timesaving capabilities and streamlined workflows when it comes to portfolio and performance reporting, financial planning, insurance, proposal generation, trading and model management, digital onboarding, document management, analytics, and compliance. The company’s proprietary Unified Data Fabric™ (UDF) is the foundation of its platform, weaving together shared services and pre-built integrations that work with existing technology stacks. The company is headquartered in Weston, Massachusetts, with offices in Bengaluru, India; Belfast, Northern Ireland; and a remote workforce in Canada.
Today, three million households with $1 trillion in assets benefit from the connected Advisor360° experience. To learn more, visit www.advisor360.com.
Advisor360° and Envestnet are separate and unaffiliated firms. This release should not be construed as a recommendation or endorsement of any particular product, service, or firm.