Download a Single Historical Consolidated Statement

A historical client portfolio statement can often be helpful to the Advisor. A client might request an old statement to be re-sent to them. Other times it is useful to compare the state of a portfolio from the start to the end of a quarter.

Seed Analytics has just released a feature that allows the Advisor to download a single historical consolidated portfolio statement. The Advisor can download a statement from as far back as six months.

Previously, accessing a historical statement was possible; however, it required the Advisor to download a zip file per month containing all their statements and then select the portfolio out of the folder before sending it to the client.

This feature saves the advisor time by making it easy for advisors to download a single statement for a specific client and send it through their own communication channels.

At Seed Analytics, we understand that an Advisors time is the most valuable asset in their business. We aim to reduce time around day-to-day tasks allowing the Advisor to do what they do best: Give sound Advice.

Download a zip file containing all portfolios was covered during the onboarding phase of the relationship with Seed Analytics. Would you like an onboarding refresher? Reach out to us here:

Book me for an onboarding refresher

Consolidating Investments: A Win for Clients

It is common for individuals, over their lifetime, to have bank and brokerage accounts at multiple institutions. A multi-fund planned, and diverse investment portfolio is productive to the clients' needs and may be due to a change of job, retirement, or an attempt to reduce risk.

A well-planned and diverse portfolio is a good portfolio. But the simple truth is that it's traditionally admin expensive to gain a single view of the customer's diverse investment portfolio. In addition, an advisor not being able to generate a single view of the client's portfolio may be counterproductive to a customer's needs. Finally, without a consolidated view, ongoing advice becomes difficult, resulting in a decline in service levels.

We address how consolidating investments empowers the client as well as the financial advisor.

The opportunity to give clients better financial advice

When all a client's assets are under one advisor's control, the advisor gets a good view of a client's overall financial situation. Instead of different advisors working on different parts of the plan, a financial planner with a consolidated view of investments can take a more holistic approach when implementing solutions and achieving financial goals.

The advisor and client can see the broader perspective. As a result, the client can make smarter investments, improve diversification, avoid duplication of investment types, and even manage any risks due to sudden changes in their life or the market. An advisor that consolidates information for their client will always leave clients with a good sense of their investments.

Consolidating investment reporting makes the client's and beneficiary's life simple

Simple is always better, especially when it comes to something already so complicated! Clients will benefit significantly from consolidated statements because all their information and assets can be viewed and managed in one place. Instead of interpreting many reports from different fund managers, clients will receive a single consolidated statement containing their entire portfolio together with the advisor's branding. The client is empowered to see their returns over their entire portfolio, and the advisor takes the credit.

Consolidating investments is beneficial when clients have passed away and their heirs are left to manage their accounts. One will also be more inclined to keep beneficiary information up to date if one can update it in one place.

Analysing diverse portfolios are instant with Seed Analytics

Seed Analytics allows clients to have many different accounts and provides ALL the information to the advisor and their client in a monthly report. A system like this saves advisors hours of their client's time and efforts.

Seed Analytics consolidates the information for the clients so that advisors don't have to! Consolidated portfolio statements generated through data analysis then present all the accounts to the client over many different platforms. So, the client wins, the advisor wins, and the client gets the plan they need.

With a data-analysing system in place, providing your clients with statements are no longer complicated or time-consuming.

Streamlined management of retirement withdrawals

Once a client has retired, it becomes a tiresome challenge to make required minimum distributions. In addition, if the client has multiple accounts at various firms, it can get confusing. Tax filing can also become very problematic for older clients, especially if tax slips are missing.

However, Seed Analytics allows advisors to perform analytics on retired clients across many different accounts. It makes retirement planning more manageable, and as a result, clients skip the pain of moving money between accounts or platforms. The advisor gets all the information they need without extracting that information manually between multiple platforms and accounts. Reporting to the client remains the same, so advisors can easily open more lines and access different platforms.

A consolidated view of investments incentivises clients to bring all their investments to a single advisor

Clients often diversify further between wealth advisors. Frequently, advisors don't even know that more than one advisor is servicing their clients. By offering a consolidated view of investment statements, clients can diversify their investments without the risk or extra admin. In addition, with all their assets consolidated in one report, they can receive monthly updates showing their entire investment portfolio without moving any accounts.

Consolidating investments using data analysis is a service offered by financial advisors that can improve the quality of customer service, save time, reduce admin and improve their client's financial situations.

Seed Analytics simplifies the consolidation process and offers wealth managers a fully automated plug-in system that analyses client investment data and generates monthly consolidated statements. We send these statements to the client at a click of a button monthly! Visit our site to book a demo today.

References:

https://www.investmentexecutive.com/building-your-business/practice-management/persuade-your-clients-to-consolidate-their-assets-with-you/

https://www.amuni.com/the-top-6-benefits-of-consolidating-your-investment-accounts/

Permission to Advise

The digital age has brought widespread positive change. People are more connected than ever before; information is freely available, and clients have real decision-making power. However, the shift to digital is not without its frustrations. Among those frustrations is the sheer volume of noise that technology produces. Every digital channel from TV to social media is filled with adverts demanding our time and focus.

Time is money, and so people living in the digital age are forced to develop the ability to filter out irrelevant information. Potential clients, now more than ever, are asking for credible reasons to dedicate their time to your product or business. Brands compete against each other to retain their clients’ attention. Staying front of their clients’ minds requires constant innovation.

Within this context, how can financial advisors stay front of mind and secure their future with their clients and within their clients’ respective reference networks?

By the very nature of the work that they do, advisors create a personal bond with their clients. This bond is based on trust and makes their clients sit back and pay attention to what they have to say. But this bond won’t last indefinitely…

Competitor companies frequently target advisors’ clients. These companies have large marketing budgets that they can exploit to capture their targets’ attention. In this demanding environment, clients’ trust is an indispensable resource. To stay front of mind, advisors must make credible monthly contact with their clients to strengthen the trust they have worked so hard to secure. After all, trust is the foundation of a financial advisor’s permission to advise.

Consolidated client portfolio statements are one way for advisors to establish credible monthly contact with their clients. Seed Analytics provides a service that transforms tedious reporting into a trust-building strategy. The advisor’s clients receive 12 credible portfolio statements per year at virtually no time cost to the advisor or their back office. Although these statements are generated by Seed Analytics, they display the advisor’s own branding and become an extension of the advisor’s services.

Seed Analytics takes care of data acquisition and consolidation. All the advisor needs to do is click the send button to distribute branded consolidated statements to their entire customer base.

In a world that generates so much noise, clients are seeking out trusted relationships to help them establish their future. By working with Seed Analytics, a financial advisor is taking a simple yet effective step to strengthen their clients’ trust and retain their ongoing permission to advise.

Book a demo with Seed Analytics