Tuesday, January 19 at 2:00 p.m. ET Hear from Gregory Furer, CEO of Beratung Advisors, as he shares his method for building and presenting financial plans in a way that supports the type of client experience that helped Beratung grow their AUM by 500%.

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Scaling Your Business: Come Together with the Appropriate Aggregator

Joe Kozeniewski October 28, 2019

As a small rock band was playing onstage, a 15-year-old boy arrived at St. Peter’s Church on his bicycle. He was there to hear local favorites the Quarrymen playing the church festival in Liverpool, England. The young man had a guitar slung across his back, which he used to practice his Little Richard impression.

One of the Quarrymen introduced his bandmate John Lennon to the boy, Paul McCartney. As the group began playing together on the truck ride home, one of the greatest partnerships in rock history was born.

Partnering your financial firm with an aggregator can be an equally rewarding partnership. John and Paul may have said, “All you need is love,” but you also need a clear view of clients’ entire financial picture to offer a seamless client experience.

A Day in the Life

Scaling Your Business: Come Together with the Appropriate Aggregator

Aggregation benefits clients by compiling the figures from their various financial accounts. That benefit increases when their account information is available in real time through an interactive client portal that is part of a comprehensive financial planning platform.

With access to live account information, advisors and clients can work together to establish goals, manage cash flows, and create scenarios that visually model the potential outcomes of financial and life decisions: What happens if the client buys a boat? Or delays retirement by two years? Many unexpected things could occur on the long and winding road of life.

With a Little Help from My Friends

Scaling Your Business: Come Together with the Appropriate AggregatorThis collaborative approach to financial planning differs radically from the traditional, annual meeting. The collaborative approach creates an engaging client experience. It uses aggregated data to deliver real-time financial planning through an interactive client portal.

While collaborative planning experiences build trust and deepen relationships between advisors and clients, concerns regarding cyber security and data privacy are justified. In their 2019 Thales Data Threat Report, IDC reports that 60 percent of organizations stated that they have been breached.

eMoney takes client data seriously. We have the resources, infrastructure, and experience to provide the highest levels of data security and encryption for your firm, advisors, and clients. eMoney security measures include two-factor authentication, annual SOC 2 Type 2 testing through a third party, and data backed up and replicated to geographically dispersed locations.

We Can Work It Out

Choosing an aggregation partner can have many benefits to your business. By using a third-party aggregator to automatically collect client account data from a variety of financial institutions, your firm can:

  • Eliminate error-prone, manual entry of client data.
  • Build comprehensive views of client finances.
  • Grow share of wallet by identifying assets not currently under management.
  • Enhance the client experience with automatic, accurate, and timely updates.

Help!

Scaling Your Business: Come Together with the Appropriate AggregatorHow do you choose the most appropriate aggregation partner? Before selecting one, be sure to know which client data they will gather, how long they will retain it, and whether they resell data. Because online threats are constantly evolving, your aggregation partner should fully understand the security landscape and take steps to continually evaluate and strengthen their IT infrastructure (and not just let it be).

Want to know the crucial steps you should follow when selecting a data aggregation partner?

Download our white paper “Scaling Your Practice with Secure, Reliable Data Connections.”

 

About the Author

Joe has over ten years of experience in digital marketing, business development, and strategy. He's worked primarily in financial and compliance-related roles that hinge on his ability to advise on complex industry regulations. As Demand Generation Strategist at eMoney, Joe is the driving force behind all advisor-facing marketing campaigns.

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Webinar - Do More Planning: Building the Plans

Catch part 3 in the webinar series as Greg Furer, CFP®,CRPC®, CEO of Beratung Advisors, shares how to build and present plans in the same way that brought his firm 500% AUM growth. Tuesday, January 19, 2021 from 2:00 – 3:00 p.m. ET

REGISTER NOW
Webinar - Do More Planning: Building the Plans

Catch part 3 in the webinar series as Greg Furer, CFP®,CRPC®, CEO of Beratung Advisors, shares how to build and present plans in the same way that brought his firm 500% AUM growth. Tuesday, January 19, 2021 from 2:00 – 3:00 p.m. ET

REGISTER NOW

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Heart of Advice by eMoney Advisors

Welcome to
Heart of Advice

a new source of expert insights for
financial professionals.

Get Started

Tips specific to the eMoney platform can be found in
the eMoney
application, under Help, eMoney Advisor Blog.