Less than two months after buying the tech firm AdvisoryWorld for $28 million, LPL Financial says it is giving its 16,000-plus advisors access to a proposal generation tool on its ClientWorks platform.
“We see this as a blowout, not just a touchdown,” said Burt White, head of Investor and Investment Solutions, in an interview Thursday (just three days ahead of the Super Bowl).
“It’s really exciting in terms of what it means for advisors’ workflow. This is all about what we are generating in terms of next steps for advisors …., and we will connect the dots more next week,” White explained.
The independent broker-dealer measures the success of its technology projects and upgrades through “pace and progress,” he adds.
“We’ve been sprinting to deliver this in under 60 days,” White said. “This proposal-generation system, which upgrades our advisors’ capabilities …. is light years ahead of [earlier technology] and puts us in an industry leadership position.”
And the IBD executive says the firm and its related tech developments are only in the early quarter of play.
“This is the first phase of integration,” he explained, in terms of mixing client data, financial planning information, portfolios and prospect planning into one integrated workflow. “That’s what makes this so important for advisors — having an easy, efficient streamlined process.”
The AdvisoryWorld technology is connected to Redtail’s CRM and will work with other CRM systems in the future. “Plus, we are continuing to integrate it into ClientWorks, as well, and into all of what advisors do. This way, they can get reports to prospects and clients in a quick and efficient manner.”
Speaking of which, how does White feel about stellar quarterback Tom Brady of the New England Patriots?
Despite the fact that the LPL exec has lived in Boston, “I am not a rabid Patriots fan,” he admitted.
(LPL Financial will release its earnings for the fourth quarter of 2018 after the markets close Thursday.)
https://www.thinkadvisor.com/2019/01/31/lpl-rolls-out-advisoryworld-proposal-tool/
Advisors at LPL Financial can now access an investment proposal tool that the largest independent broker/dealer promised to them following a strategic acquisition.
In December, LPL acquired the technology company AdvisoryWorld for $28 million in cash to improve the IBD’s proposal generation, client onboarding and investment analytics capabilities. It also promised the integration would happen quickly and it delivered on that Thursday, when it said AdvisoryWorld was now available on the ClientWorks workstation.
The firm had already been part of LPL’s Vendor Affinity Program, meaning LPL advisors could use its services at a discount, since 2015. Advisors now have access to the tool at no additional cost to them.
When advisors log in to the workstation, the tool will give them greater insight into an investor’s current financial situation, enhanced risk tolerance capabilities and a broader array of securities, including stocks and bonds. They will also have access to LPL-recommended models and outside strategist models though its Model Wealth Portfolios (MWP) platform. LPL plans to make additional enhancements over time, the company said.Â
In the past, some advisors have badgered LPL for lagging behind competitors when it comes to technology, but that appears to be changing. LPL is budgeting $135 million for technology improvements in 2019, after setting aside $120 million in 2018.
Burt White, managing director and chief investment officer at LPL, said AdvisoryWorld and its tools would be “the centerpiece” of LPL’s advisor workstation, ClientWorks.Â
AdvisoryWorld, a leading software provider for financial advisors, today announced that it will be acquired by LPL Financial Holdings Inc. (NASDAQ: LPLA), the corporate parent of LPL Financial LLC.
LPL Financial is a leading retail investment advisory firm and the nation’s largest independent broker/dealer (Based on total revenues, Financial Planning magazine June 1996-2018).
“We’re excited by this opportunity and the tremendous benefits we see for our business, our clients, our employees, and for LPL Financial advisors,” said Michael Wilson, president, AdvisoryWorld. “LPL’s scale gives us access to more resources that will enable us to expand our core offerings and serve the financial services industry in new and different ways in the future.”
AdvisoryWorld will continue to function as a standalone company under the same name moving forward. The company will maintain its own distinct brand and operating model. In addition, all employees will continue to be led by Wilson, who joins LPL Financial as executive vice president and president of AdvisoryWorld.
“We remain committed to all of our customers,” Wilson continued. “We’re the same company today as we were before this acquisition, and we will carry forward our client-centric values, our culture of innovation, and the same entrepreneurial spirit that has made us successful for the last 30 years. LPL shares our passion for supporting advisors, so it’s a great fit for both parties strategically and culturally.”
AdvisoryWorld is widely recognized as a leading provider of highly customizable investment analytics, portfolio construction and proposal generation applications to the wealth management industry, as well as to broker/dealers and asset managers. The applications, calculation library, and business logic employed by AdvisoryWorld are proven in the marketplace, and the firm has a deep understanding of advisors’ needs.
LPL intends to integrate Advisory World’s capabilities into its proprietary ClientWorks platform for LPL Financial advisors at no cost to them. The transaction closed on Dec. 3, 2018.
More information about LPL Financial, including additional information about its acquisition of AdvisoryWorld, can be found at lpl.com.
Brinker Capital, a leading investment management company focused on multi-asset class investing, today announced the expansion of its partnership with AdvisoryWorld, a leading software provider for financial advisors. Brinker Capital utilizes AdvisoryWorld as its technology partner for two comprehensive digital reporting applications, namely the Portfolio Observations and its Wealth Advisory proposal.
Portfolio Observations is a custom-built presentation that incorporates industry-leading investment portfolio analysis and uses natural language generation to automate talking points. Advisors can assess diversification and performance-based statistics, including investment overlap, maximum drawdown, and up- and down-market capture, as well as compare current assets versus the suggested model allocations.
“We are excited to announce our collaboration with Brinker Capital,” said Michael Wilson, President & CEO of AdvisoryWorld. “Our team at AdvisoryWorld worked hand-in-hand with Brinker Capital’s team to perfect this reporting technology as we both know how important the presentation layer is to a financial advisory practice. We look forward to working more with Brinker Capital to further enhance their financial advisors’ digital experience.”
“Brinker Capital is committed to providing financial advisors with state-of-the-art technology, such as artificial intelligence, to help streamline their business so they can spend more time with clients and prospects,” said Brendan McConnell, Chief Operating Officer at Brinker Capital. “We believe AdvisoryWorld’s enhancement equips advisors with the technology for day-to-day operations and asset management to focus on client relationships.”
For the Wealth Advisory proposal, Brinker Capital accesses AdvisoryWorld’s reporting capabilities via an application program interface (API) and features bespoke design elements wrapped around detailed quantitative metrics, goals-based Monte Carlo simulations, and highly-customized fact sheets.
“We’re excited to deliver a sophisticated, yet easy-to-use digital experience to advisors who work with high net worth and institutional investors,” said Jason Moore, Chief Administrative Officer at Brinker Capital. “The enhanced proposal is just one of the many services and solutions that Brinker Capital Wealth Advisory offers to advisors who work with investors with at least $1 million of investable assets.”
AdvisoryWorld, a leading software provider for financial advisors, today announced that Advisor Proposal Generator, the Company’s interactive proposal tool, now features Monte Carlo simulation as comprehensive fee disclosure and analysis.
The new Monte Carlo Simulation feature allows users to determine an investor’s ability to meet their financial goals at the household level. The forward-looking simulated output is displayed in chart and table form and is derived from inputs such as historical or forecasted return and standard deviation of the portfolio; it displays the probability that an existing or proposed portfolio will achieve certain goals. In addition to this advanced analytic add-on, AdvisoryWorld has added the ability to associate an advisor and/or platform fee (flat, tiered, or breakpoint) to a proposal and Investment Policy Statement. Fee controls are configurable at the firm-level where they can be customized and mandated for any or all users, further satisfying compliance requirements.
“We are thrilled to launch this newest version of our Advisor Proposal Generator at IMPACT 2018,” said Michael Wilson, President and CEO of AdvisoryWorld. “We’re proud to say that these latest additions to our popular tool were the direct result of client demand and feedback. We listen to our users and finessed these updates to meet their requests and recommendations. Conferences like IMPACT provide an incredible forum for valuable conversation with leading advisors, and we are honored to announce the result of these partnerships directly at the source. We look forward to discussing and working together even more with our advisor users.”
Today, more than 20,000 financial professionals use AdvisoryWorld’s Advisor Proposal Generator, generating 250,000 proposals within in the last 12 months alone. The tool enables advisors to showcase their brands with FINRA-reviewed reporting options including investment policy statements, goals and risk-based proposals, hypothetical illustrations, and security fact sheets. The Advisor Proposal Generator assists with the establishment of a risk profile and investment objective for financial advisors’ current and prospective clients, aids in construction of model portfolios, builds customizable proposals and investment policy statements, and allows for straight-through-processing to new account creation.
For more information, please visit the AdvisoryWorld kiosk 171-1 at IMPACT or visit www.advisoryworld.com.
AdvisoryWorld, a leading software provider for financial advisors, today announced they will be attending XYPN Live 2018 on September 23 – 26, 2018, in St. Louis, MO.
As the XYPN Live 2018 WiFi sponsor, AdvisoryWorld representatives Ed Fahlstrom, VP of National Sales and Jon Moscrop, Sales Associate, will be in attendance at Booth 126. They will be exhibiting AdvisoryWorld’s established technology suite that includes the ACQUIRE client on-boarding application, the Advisor Proposal Generator, SCANalytics, and Batch Risk Analysis tools.
In addition to providing advisors with white labeled client experiences, reports and proposals, AdvisoryWorld technology enables RIAs and other investment professionals to assign suggested asset allocation models to individual investors which are in alignment with their risk tolerance and satisfy their financial goals.
For more information, please visit AdvisoryWorld at XYPN Live 2018, Booth 126, or visit the AdvisoryWorld website, http://advisoryworld.com/.
AdvisoryWorld, a leading software provider for financial advisors, today announced it will be sponsoring and attending Silver Oak Securities’ 2018 National Sales and Leadership Conference from September 24-25, 2018, in St. Louis, MO. Ed Fahlstrom, Vice President of National Sales at AdvisoryWorld, will be in attendance.
AdvisoryWorld’s established technology suite includes the ACQUIRE client on-boarding application, the Advisor Proposal Generator, SCANalytics, and Batch Risk Analysis tools, supporting advisors throughout the entire prospect-to-client lifecycle. In addition to providing advisors with white labeled client experiences, reports and proposals, AdvisoryWorld technology enables RIAs and other investment professionals to assign suggested asset allocation models to individual investors which are in alignment with their risk tolerance and satisfy their financial goals.
All AdvisoryWorld technology is integrated with industry leading CRM, portfolio management and financial planning platforms, creating seamless workflows that support and streamline advisors’ practices. For more information on AdvisoryWorld technology, please visit http://www.advisoryworld.com/ or email sales@advisoryworld.com.
To help advisors meet the evolving appetites of investors, AdvisoryWorld created ACQUIRE, lead generation software that advisors can embed directly in their websites and social media accounts. When investors visit these sites, they fill out a configurable questionnaire and enter information about themselves including their appetite for risk and their goals.Â
ACQUIRE then immediately suggests an advisor’s model asset allocation which satisfies both risk and goals based objectives. The software allows the advisor to showcase their financial planning, risk management and portfolio construction offering.Â
At this point, investors can choose to share their information with the advisor or open an investment account directly. Even if they choose to forgo reaching out to the advisor and open an account themselves, that account is still opened under the advisor’s book of business.Â
ACQUIRE serves as a lead generation tool for advisors and can be integrated with a firm’s CRM such as Redtail. With the information entered by the prospective client, Wilson says, advisors can then share their personal know-how effectively combatting robo-advice. “It’s a really nice conduit between investors and advisors. Advisors can share their expertise, such as suggesting personalized portfolio allocations and adjusting financial goals to match various changes in lifestyle; two of many things that robos simply don’t have in their arsenal,” Wilson says.Â
As a pioneer in the financial technology space, AdvisoryWorld prides itself on delivering tools to help financial professionals remain competitive. “As the market’s eye has moved towards interactive, investor-facing experiences , we’re able to provide a scalable solution which allows advisors to beat robo-advisors at their own game,” says Wilson.
https://www.wealthmanagement.com/technology/engaging-investors-digitally-and-increasing-leads
AdvisoryWorld, a leading software provider for financial advisors, today announced they will be sponsoring and attending Orion Advisor Service’s Ascent/ Fuse 2018 Conference on September 5-7 at the Fontainebleau Hotel in Miami Beach, Florida. Michael Wilson, CEO & President of AdvisoryWorld, Ed Fahlstrom, VP of National Sales, and Zev Persellin, Senior Software Developer, will not only be exhibiting their latest integrations but also will be competing in Orion’s Fuse “Tech’s Got Talent” Competition.
Since 2014, AdvisoryWorld has competed and won awards annually at Orion’s Fuse competition for FinTech developers. This year, AdvisoryWorld will be defending its 2017 Fuse award titles of Best Work-Saving Development for Advisors and Best True Hackathon. Additionally, AdvisoryWorld will be exhibiting their seamless integrations with Orion’s New Account Center, Model Center, Client Portals and newly announced Orion Enterprise offering.
AdvisoryWorld’s established technology suite includes ACQUIRE, the Advisor Proposal Generator, SCANalytics, and Batch Risk Analysis tools, supporting advisors throughout the entire prospect-to-