Case Study
Delivering Peace of Mind Through Complex Financial Planning with eMoney
eMoney helps Mayflower Advisors offer expanded service offerings for financial planning to deepen client engagement, improve retention, and scale advisor efficiency.
The Goal
Mayflower Advisors LLC is an award-winning independent Registered Investment Advisor (RIA) firm renowned for its personalized and innovative financial solutions. Established with a primary mission of empowering financial confidence for individuals, corporations, endowments, foundations, and non-profits, Mayflower Advisors has built a reputation grounded in delivering peace of mind for their clients.
As the firm has evolved over the last two decades, and its client base expanded, the leadership team realized the planning tools their advisors used lacked the sophistication needed to address challenges such as detailed cash flow analysis, nuanced taxation considerations, and advanced retirement projections. The firm tasked David Manukjan, CFP®, Director of Financial Planning, with identifying a solution to empower their advisors and expand their offerings for both existing clients and new high-net-worth individuals, enabling higher retention capabilities across the firm.
The Solution
Fortunately, Manukjan had extensive experience with almost every planning platform on the market, and he preferred the value of a single platform with the advantages of eMoney. With Managing Partner Larry Glazer’s support, Mayflower Advisors implemented eMoney at Manukjan’s recommendation, bringing enhanced clarity and precision to their financial plans.
“With Monte Carlo simulations and detailed cashflow reporting, we can show clients precise breakdowns, customized assumptions, and specific strategies—everything from estate planning and cashflow analysis to long-term financial projections over their entire lifespan.” – David Manukjan, Director of Financial Planning
With eMoney, Mayflower Advisors expanded comprehensive service offerings to include:
- Advanced scenario planning tools, including Monte Carlo simulations, that show varied financial outcomes and tailor plans to client-specific scenarios
- Cashflow projections that allow granular analysis of income, expenses, investments, and liabilities over time
- Integrated account aggregation and reporting through Black Diamond, streamlining data for simpler tracking and better decision-making
- Enhanced collaboration between advisors and clients with an iterative planning process that allows plans to be refined during client meetings
Mayflower Advisors’ use of eMoney has also helped foster their collaborative environment and personalize the financial planning experience. These strategies have strengthened client confidence in the firm’s ability to manage complex financial challenges while remaining adaptable to every client’s specific needs.
With our advisors using eMoney for client meetings, we can show what’s happening in real time, whether that’s estate considerations, retirement modeling, or strategic financial moves. This flexibility really helps.”
David Manukjan, CFP®
Director of Financial Planning
The Results
eMoney has helped Mayflower Advisors achieve success by improving how they engage clients, operate internally, and positioning the firm for future growth. Most of all, they have enhanced their clients’ confidence and peace of mind, enabling deeper, longer-lasting relationships.
Maybe most importantly, eMoney has helped fortify one of Mayflower’s primary areas of focus, client retention, by helping Mayflower work with clients who are in the later stages of their life and more focused on estate planning.
After switching from a proprietary, antiquated goal-based financial planning system to a modern cash flow-based system, our client attrition improved by 50%, especially as assets transition from aging clients to heirs who choose to continue working with our firm.”
Larry Glazer
Managing Partner
Manukjan points to his advisors’ response as further evidence of success, “90% of new advisors we’ve brought on since we adopted eMoney use it for their book of business.”
The adoption of eMoney has expanded across Mayflower Advisors, with 372 active plans now in the system and 13 advisors leveraging the platform for advanced planning and reporting. All of this has helped the firm become one of the fastest-growing RIAs in the country by AUM growth over the past year.
By harnessing advanced financial planning tools, Mayflower Advisors has accelerated its shift toward delivering holistic, personalized planning services. This allows the firm to retain high-net-worth clients while successfully engaging new ones, strengthening their ability to thrive over the long-term in an increasingly competitive industry.
eMoney transforms our clients’ complex and emotional financial decisions into transparent, data-driven conversations that keep them engaged and confident in the choices they make. That’s peace of mind for the long-term.”
David Manukjan, CFP®
Director of Financial Planning
Disclosure
All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
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