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/