Curian Capital Launches Processing App for Managed Account Proposals

Company claims app is ‘one of the first’ to provide mobile proposal generation capabilities

One-stop shopping with the touch of a finger is “pretty cool,” according to Mark Schoenbeck, and advisors might find it hard to disagree.

Schoenbeck was referring to Curian Capital’s announcement on Monday that it has launched a new app specifically designed for mobile, “on-the-spot” generation of client proposals.

The chief marketing officer of the Denver-based managed account provider said that while most apps in the financial space are more marketing-oriented, Curian’s offers operational and business-processing capabilities.

“To be able to tell the Curian Select story, show the client the different options that are available, process the business and then literally sign with their finger on the screen is something unique,” Schoenbeck explained. “We’re seen similar technology in other industries but it hasn’t been widely adopted in financial services. Certainly e-signature capabilities are growing, but this leverages on a new level.”

Specifically, the company claims the app is designed to help financial advisors increase productivity and efficiency as they generate investment proposals based on their clients’ individual needs and goals. It gives advisors the ability to:

• Create proposals directly from the iPad anywhere, even without Internet access

• Review presentation materials with clients in an attractive and easy-to-understand format

• Select from 25 different account types and six different managed Select Portfolios

• Capture client information and offer clients the option to sign proposals electronically

As to whether the announcement represents “the death of NIGO rates,” Schoenbeck said the more advisors can do online in a digital format, the less not-in-good-order rates will factor in the processing of business.

“The system instructs the user, so that is usually the case,” he added.

While the company does not officially claim to be the first with this type of offering, Shoenbeck said it did a great deal of research and believes it to be the case.

“The short answer,” he said, “is that although we don’t have hard evidence to prove we are the first, we think we’re the first to leverage mobile technology for the purpose of this type of business processing.”

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