Industries

Financial Services - Advisor Dashboard

The wealth management industry has changed dramatically since the financial crisis of 2008. Client expectations of advisors now require them to have a way to analyze information swiftly and efficiently.

Hitachi Solutions' advisor dashboard solution provides wealth management advisors with graphical KPIs to quickly manage clients, accounts, assets, risk tolerance, and households. This helps the advisor be more effective in managing their clients and help in the emerging trends for the wealth management industry.

Industry Challenges

High Expectations from Customers

  • The complications of broadened asset classes and access to new markets and commodities require a higher level of analytics capabilities
  • Inability to have a detailed breakdown of client location, age band, asset size, and risk tolerance
  • No real-time analytical capabilities forming a more cumbersome and slow process with client asset management

Knowledgeable High Quality Advice from Wealth Managers

  • Difficulty understanding customer value leading to higher price margins and customer dissatisfaction
  • Inability to view client data in a detailed portfolio minimizing customer perception
  • Lack of access to real-time data reduces the capabilities in providing relevant advice to high level clients

Customer Retention and Retaining Investment Base

  • Unable to keep track of customer assets in real-time
  • No insight into progress of customer assets
  • Cannot follow key KPIs such as new assets for new clients or for existing clients
  • No connection to firm’s CRM system to give better insight into new clients and alerts on existing clients
  • Not tracking household with real-time data reducing asset management capabilities and lowering customer satisfaction

Productivity of Advisors

  • Unable to provide a system that allows advisors to share and collaborate documents and research
  • Limited cross-sell opportunities due to inability to provide quick access to information on assets and clients
  • No automated workflows to reduce time spent researching client info to uncover hidden opportunities

Solution Benefits

Increase Total Assets Under Management

  • Be able to assess house size and composition of best clients in a quick glance
  • Identify and analyze client segments with under-target conversions of households/referrals to active clients
  • Keep track of all client information within CRM with detailed breakdown capabilities to access client information quickly
  • Increase household size and quality

Increase Revenue from Fee-Based Business

  • Have access to an up-to-date client summary via dashboards
  • Analyze the overall health of clients and the performance of their portfolios
  • Gain the ability to drill-down further on client details with relatable segments like age bands, asset size, and risk tolerance

Improved Visibility into Clients and Assets

  • Track all client specific KPIs in one simple view
  • Increase lift through up-sell/cross-sell by viewing client profiles and household
  • Organize clients into segments to obtain revenue summaries and assess their health and performance
  • General CRM benefits such as: more efficient and effective campaigns, ability to identify target customers, target sectors quicker and faster customer segmentation

Faster Training and Ramp up of New Hires

  • For most firms it can take up to a year to fully train a new recruit, with average time for a new employee to become productive being 12 weeks
  • Our solution allows new employees to access the firm's collective knowledge and practices at the click of a button, reducing training time and costs

Financial Services Clients

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