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Practice Management > Building Your Business

Junxure Enhances Its Cloud CRM

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Junxure has released an enhancement to Junxure Cloud, the first major upgrade to the cloud-based CRM program used by RIA firms and broker-dealer reps since its launch this summer.

“The big differentiator” for the upgrade is the user experience, said Greg Friedman, Junxure’s president, in an interview. While “everyone talks about big data,” what he says Junxure allows an advisor to leverage is “small data—what’s already in your database,” using the program’s customized search and workflow monitoring features, which allows principals to view the status of any action taken — or to be taken — on behalf of a client.

Using Junxure Cloud’s dashboard, Friedman says advisors can easily view their client data in the aggregate, quickly providing a view of the entire business, showing top clients by assets under management or top holdings across the firm, making business-building decisions easier. “You can customize your client view based on your needs,” Friedman said, using an unlimited number of templates. Friedman, also president of the wealth management firm Private Ocean, says he makes “real decisions around this data” in his own firm, including those around employee productivity or firm profitability.

In addition to the streamlined user experience, the upgrade includes custodial integrations to Schwab OpenView Gateway and TD Ameritrade’s Veo platforms. Junxure is also working on an integration between Junxure Cloud and Pershing’s NetX360 platform.

In addition, various software packages popular with advisors, such as MoneyGuidePro and LaserApp, are also integrated into the new version of Junxure Cloud, joining existing integrations with portfolio management, financial planning and document management programs and platforms such as Advent Axys, PortfolioCenter, LaserFiche, Black Diamond, Envestnet and LPL’s BranchNet.

Junxure has also changed its pricing, offering a 60-day free trial of the fully functional program. In addition, as part of their licensing fee, Junxure is offering more online training for users, though in-person training and consulting still costs extra.

Over all, Junxure has more than 11,000 individual users from more than 1,400 firms, with RIAs accounting for about two-thirds of users and broker-dealer representatives the remainder. While Friedman admitted that some Junxure desktop users have been slow to adopt the cloud version because of their comfort level with the desktop version, he said more than 50 firms and nearly 500 users are now on Junxure Cloud.

Friedman (who also blogs regularly for ThinkAdvisor) said Junxure is now working on using its 12 years of data from Junxure users to create benchmarking data that will be made available to customers, though he didn’t specify a timeframe for that feature.

At its second annual user conference in September, Junxure announced a new learning management system that will be available to users in 2015. The third annual conference will be held in fall 2015, with the addition of a pre-conference workshop focusing on the workflow capabilities of Junxure Cloud.

— Check out In Financial Data, Small Is the New Big on ThinkAdvisor.


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