Read the analysis about these announcements in this month’s column, and a discussion of more trends in adviser technology, including: Riskalyze signals an intent to rebrand itself away from just risk tolerance assessments to a broader focus on helping advisers grow clients and assets.Hearsay Systems rolls out a new small-to-midsize RIA platform for social media compliance and website design.Orions Redtail launches Redtail Campaigns in partnership with Snappy Kraken to facilitate CRM-based drip marketing emails.This raises the question of whether and where Entrustody may even be able to make a beachhead in a surprisingly crowded marketplace for the few advisers who are in a potential custodial transition.įrom there, the latest highlights also feature a number of other interesting adviser technology announcements, including: In addition, a number of new RIA custodial competitors like LPL and SEI are increasingly competing for breakaways as well.
Concurrently, competition has already heated up for new advisers (who can pick a new custodian without repapering or retraining because theyre just getting started) with SSG, Altruist, and even Schwabitrade itself pledging no minimums. This raises the question of whether Entrustody has enough efficiency improvements to actually convince advisers to switch. The latter cost is still incurred even if firms just add Entrustody as a second custodial platform without moving existing clients. Notably, though, the reality is that changing RIA custodians still requires the repapering of clients and retraining of staff. As with Altruist, the other new startup RIA custodian to launch in recent years, Entrustody is pledging to have a more modern interface with a better user experience, deeper integrations and a more transparent price structure than traditional custody services. * Users do not need an account with Snappy Kraken to have a Redtail Campaigns subscription.The November edition of the latest in financial #AdviserTech kicks off with the news that a new RIA custodian Entrustody has launched, as independent RIAs continue to clamor for more alternatives than what has now become the Big 2 of Schwabitrade and Fidelity. With Redtail Campaigns, advisors will find a well-designed platform with great content designed to be effective whether an advisor is attempting to nurture prospective, new, or existing client relationships. To ease these challenges and support the growing marketing needs of financial advisors, Redtail Campaigns users will have access to all the features and functionality of Snappy Kraken’s current offering, including compliance workflow, integrations, an automation platform, and custom content that are only available to Redtail Campaigns users.
Putting it bluntly, generic content that doesn’t take anything into account other than basic demographic info is unlikely to move the needle much in terms of an advisor’s prospecting or client engagement efforts. More telling, of the respondents who do, less than 6% consider any client characteristics outside of age, income, gender or education for the purpose of crafting tailored client content. Redtail Campaigns, powered by Snappy Kraken *, helps advisors and firms drive new business and deepen client relationships through access to hyper-personalized marketing collateral.Īs we found in our own 2019 AdvisorComms Survey of more than 3,200 wealth management professionals across the United States, 22% of respondents indicated their offices do not tailor marketing content to their clients at all.
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