Advisor Group Continues $65M Tech Upgrade with New Initiatives

Advisor Group is spending $65 million to enhance its expertise away from its legacy AIG merchandise.

As a part of these multi-year enhancements, the impartial wealth administration community with greater than 10,000 advisors introduced 4 expertise initiatives on Monday: a extremely automated digital advisor onboarding system, a centralized Salesforce-based relationship administration system, an Advisor Business Hub and a partnership with a video advertising and marketing agency.

“This is a enterprise we lifted out of AIG and through part one we needed to get the expertise proper and likewise the pricing and scaling proper—below AIG this was actually a tangential enterprise—after which we took what had been very a lot a cobbled collectively and non-integrated set of instruments and rebuilt them,” Advisor Group President and CEO Jamie Price stated.

“This isn’t legacy tech however model new tech the place we’re ripping out every bit of non-integrated expertise from the AIG days,” Price added. AIG offered Advisor Group to Lightyear Capital in 2016. 

The new tech contains what appeared, at first blush, to be a brand new buyer relationship administration system primarily based on Salesforce. But Price and Advisor Group’s Head of Advice and Wealth Management, Greg Cornick, clarified this was not a CRM.

“Think of Salesforce because the workflow spine,” stated Price, “We have a single new occasion of Salesforce, which serves because the spine [across Advisor Group’s wealth management firms] and the mandatory workflows inside.” He stated the integrated enterprise logic and enterprise intelligence therein powers the entire Advisor Group community.

“We can alter the person entrance ends as wanted for every particular person agency and the best way every operates,” he added, noting that every agency has its personal approach of doing enterprise and that half of Advisor Group’s advisors have been already customers of Redtail as a front-end CRM and glad with it.

“As a hypothetical, if there have been, say a complete of fifty journeys a consumer goes by way of and you’re taking all these workflows and construct them in and use a standard interface and a single sign-on, you’re coming nearer to [envisioning what we are doing],” stated Price.

Cornick added that each one the initiatives have been about offering as seamless an expertise as doable not only for advisors however for the top shoppers as properly.

He stated the brand new Advisor Business Hub, in easiest phrases, is including B2B parts, together with a enterprise intelligence information layer.

“This gives not solely plenty of key metrics for our advisors in sort of a dashboard type, with dynamic information for advisors to see the well being of their enterprise, and the place there are areas of alternative,” stated Cornick. The “container of options” inside the hub are round 4 key themes that embody cybersecurity safety, succession, continuity and neighborhood.

And within the new Express Onboarding initiative and expertise, each Price and Cornick stated they see in it as an onramp, and fully automated for brand new advisors to Advisor Group’s companies.

“It will deal with the transition of property, licenses and many others; we’ve eradicated a major quantity of steps and work,” Cornick stated.

“The final part of it [the automated process] opens up their first day at Advisor Group with their very own dashboard, and this not solely hyperlinks up with our enterprise transitions crew however our succession crew as properly,” stated Price.

The new Vidyard for Advisor Group providing will allow advisors to quickly document particular person advertising and marketing and consumer communication movies utilizing the expertise firm’s simple desktop utility. Any content material created is then routinely routed to compliance for assessment with no hands-on guide steps. Built in to the Advisor Group model are customizable branding capabilities that embody the power to insert calls-to-action in movies themselves and analytics instruments to assist advisors measure engagement with the content material produced.

All of the brand new enhancements come as a part of Advisor Group’s tenth annual ConnectED convention, a hybrid occasion that’s anticipated to achieve 5,400 members—3,000 in-person attendees on the Mandalay Bay Resort in Las Vegas and one other 2,400 digital members.

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