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Cambridge Launches New Digital Marketing Solution for Advisors: Tech Roundup  

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What You Need to Know

  • Cambridge's new RetireTRAC digital marketing solution is now available to its 3,800-plus advisors and other financial professionals.
  • BNY Mellon is providing Aviva Investors with a fully integrated operating model for certain front-office support services, as well as middle- and back-office activities.
  • GeoWealth makes several upgrades to its TAMP platform for RIAs.

Financial solutions firm Cambridge introduced a new digital marketing solution it said Wednesday is now available to its 3,800-plus advisors and other financial professionals.

RetireTRAC, powered by Cambridge, is a comprehensive retirement preparedness and planning system and prospect conversion tool, the company said.

The new retirement solution was designed to help clients better understand the complexity of the planning process and contribute to the “holistic planning approach desired by today’s clients,” the firm said.

Meanwhile, as a prospect conversion tool, RetireTRAC can help advisors turn leads into clients and uncover new and surprising insights about existing clients, the company said.

The solution immerses clients in the planning process from the first appointment, with clients taking a five-minute assessment online in which they rate themselves in 20 areas to determine their level of retirement preparedness.

The assessment results generate a personalized RetireTRAC Score and Action Plan tailored to each client or prospect, Cambridge said. “The score gauges where the client is at today, while the Action Plan identifies items that need addressing to make the client’s retirement vision a reality,” providing a “roadmap” for future appointments, it added.

There are two subscription tiers to choose from in deploying RetireTRAC: Bronze and Platinum. The Bronze tier includes unlimited access to the tool, including the standard questionnaire and dashboard, individual client reporting, and client progress reports.

The Platinum-level subscription includes the Bronze tier features and adds the ability to add the professional’s company logo to reports, customize the questionnaire, and access a resource library of topic-specific appointment presentations and brochures.

Aviva Taps BNY Mellon

Aviva Investors, the global asset management business of Aviva plc, appointed Bank of New York Mellon to provide a fully integrated operating model for certain front-office support services, as well as middle- and back-office activities.

In a joint announcement on Tuesday, the companies said that as part of the long-term deal, BNY Mellon will provide a comprehensive solution to Aviva Investors, featuring traditional asset services including custody, fund administration, depositary capabilities, and front-office support including mandate monitoring and performance measurement.

A key part of BNY Mellon’s front-to-back operating model is its Data Vault, a cloud-based data platform that the firms said will enable Aviva Investors to unlock insights and accelerate access to analytics for teams across the investment lifecycle. This will provide Aviva Investors with an “improved ability to focus on core investment and client-related activities,” they said.

As of June 30, 2022, BNY Mellon had $43 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management, it said.

GeoWealth Launches Consulting Division

GeoWealth announced several upgrades to its turnkey asset management platform for RIAs that it said are focused on providing advisors with more personalization and choice in their investment management programs including investment guidance, due diligence, service and support.

For advisors looking for guidance and concierge-level support in building custom Unified Managed Account solutions, GeoWealth launched an internal Investment Consulting division.

To best serve clients, advisors now demand more control, flexibility and customization when managing client portfolios. GeoWealth “responded by expanding its model marketplace, increasing its vetted manager menu by over 200 percent,” it said.

Advisors leveraging GeoWealth’s proprietary platform always had the flexibility to build their own models, select third-party model portfolios, or combine the two via custom UMAs. GeoWealth has also now enhanced advisors’ ability to customize on the platform by onboarding Separately Managed Accounts and single asset class, or “sleeve-level,” strategies to be used as building blocks in UMA allocations, it said.

GeoWealth also announced the release of an integrated Manager Portal module on the platform that it said was developed to “better enable efficient model-level rebalancing and reallocating.” The Manager Portal will allow third-party managers, as well as advisors managing client portfolios, to seamlessly communicate portfolio updates to the GeoWealth trading team for execution, the firm said.

Advisor360 Makes Platform Upgrades

Advisor360, a software as a service provider of integrated technology for the wealth management industry, rolled out various platform upgrades on Tuesday that it said will improve the financial planning process and engagement between financial advisors and their clients.

The enhancements cover a variety of capabilities, including Goals, Proposals, Model Management & Rebalancing, Dependent Workflows and Documents, it said.

The latest enhancements to the Goals and Proposals capabilities enable advisors to “develop specific investment proposals within the context of a client’s financial plan or as a standalone investment proposal quickly and efficiently,” the company said.

Advisors can now integrate family members, who were previously not connected to a household account, allowing all of a household’s information, assets and liabilities to be updated, synchronized and aggregated.

The improved functionality enables advisors to input more details about clients’ specific goals based on timing and costs, along with configuring various assumptions that impact retirement planning and goal setting, such as inflation rates, the company said.

Advisors can also build investment strategies directly within the new workflow and “tap into more robust charting capabilities,” it said.

Enhancements made to Model Management & Rebalancing allow advisors to manage trading strategies more efficiently and effectively.

The Workflows capability, meanwhile, now has enhanced drag and drop features that the firm said allow advisors to organize complex sequential activities into repeatable workflows that can be easily assigned to others.

And the company also updated its Documents management system for a “smoother user experience when navigating folder structures and finding documents,” it said. The upgrades make it easier for investors to upload and share documents securely with their advisor and give more control over the folder structure and management to the advisor.

Orion Adds to Its Board

Orion Advisor Solutions appointed Charles Goldman to its board, joining board directors Jonathan Baum, Noreen D. Beaman, M. Roy Burns, Eric Clarke, Todd Crockett, Lori Hardwick, Brian McLaughlin, Sid Ramakrishnan and Tony Salewski.

“His extensive experience in the financial services and wealthtech industries makes him an invaluable asset as we continue to grow the Orion business,” Eric Clarke, Orion CEO and founder, said of Goldman.

Goldman is a member of Genstar’s Strategic Advisory Board where he sits on several portfolio company boards, including ACA Group, Amerilife, Cerati Partners and Mercer Advisors.

Goldman was previously CEO and president of AssetMark; a senior advisor to Bain & Company; president of Fidelity Investments, Custody & Clearing; and an executive vice president and head of Schwab Institutional.

Russell Investments Selects ARRMA

ACA Group, a governance, risk and compliance advisor in financial services, said Wednesday that Russell Investments selected its ACA Regulatory Reporting Monitoring & Assurance (ARRMA) service to help manage its transaction reporting arrangements.

The service will help Russell quickly identify and remediate transaction reporting issues,  the companies said.

(Image: Shutterstock) 


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