13 Nov, 2018, 17:00 ET
PHOENIX, Nov. 13, 2018 /PRNewswire/ -- Advisor Group, one of the nation's largest networks of independent wealth management firms comprised of FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial, and Woodbury Financial, today announced the launch of its digital client onboarding and account management solution, eQuipt. The platform is designed to reduce the time advisors and clients spend on the account opening process by integrating typically disparate systems including clearing firms, advisory platforms, CRM, and account opening into one integrated end-to-end digital solution.
This technology enables advisors to deliver a sophisticated and tech-forward experience to their clients. Advisors can leverage the platform to collaborate with clients during the account opening process, establish financial goals for clients, and give them access to an interactive online portal to track their progress on an ongoing basis. The hybrid platform combines the do-it-yourself "robo-advisor" technology and the financial advisor-led process into one collaborative experience.
"This is the first time a firm in our industry has taken on a project this massive – one that incorporates all of the various components of the account opening process for both brokerage and advisory into one streamlined and completely digital process for the advisor and their clients," said Matthew Schlueter, EVP and President, Wealth Management Solutions. "Our advisors are saving more than 50 percent of the time it typically took to open accounts, allowing them to focus on other important client-facing activities."
Some of eQuipt's key features include:
- Fully-Integrated End-to-End Paperless Account Opening: eQuipt uses a wizard to compile what used to be standalone paperwork into one application regardless of account type. Multiple accounts within a household can be opened and funded simultaneously without using duplicative key entry or forms for different account types – from electronic funding to e-signatures.
- Includes Advisory & Brokerage: eQuipt supports the full range of Advisor Group's offerings, meaning no more separate processes for advisory and brokerage.
- Consumer Portal: The eQuipt client portal allows advisors to securely interact with clients from the onboarding process through ongoing account monitoring. After completing all client agreements online, clients can set up funding, eDelivery and access account activity, quarterly performance reports, and utilize modern capabilities such as depositing checks through mobile apps.
- Funds Transfer: eQuipt supports a range of funding capabilities including ACAT, Non ACAT, ACH, and Internal Funds movement. Integrating the funding with the account opening removes what historically have been separate processes.
- Client Collaboration: Through the client portal, which boasts a modern, easy-to-use design, advisors can work with their clients to complete the account opening process more easily and efficiently. Additionally, eQuipt allows the client to review and accept the advisors' recommendations and enables clients to share feedback and questions through the system should they choose.
"Client onboarding processes are one of the most critical yet arduous tasks for advisors today," said Russ Karban, VP and Managing Executive, Savage and Associates. "eQuipt is a ground-breaking advancement. Advisor Group is clearly leading our industry with technology and strategic investments that are having a significant impact on my business and enabling me to better serve my clients in this highly competitive environment."
eQuipt will be made available by year-end to financial advisors across the Advisor Group network of firms, free of charge. Advisor Group has been piloting the platform and it will be featured at the national ConnectED 2018 conference on November 11th – 14th in Anaheim, CA. For media inquiries regarding eQuipt, or to speak to an Advisor Group spokesperson, please contact: [email protected].
About Advisor Group
Advisor Group, Inc. is one of the nation's largest networks of independent financial advisors serving over 6,800 advisors and overseeing more than $250 billion in client assets. Headquartered in Phoenix, AZ, the firm is mission-driven to support the heroic role that advisors can play in the lives of their clients, offering securities and investment advisory services through its subsidiaries FSC Securities Corp., Royal Alliance Associates Inc., SagePoint Financial, Inc. and Woodbury Financial Services, Inc., as broker/dealers, registered investment advisors and members of FINRA and SIPC. Cultivating a spirit of entrepreneurship and independence, Advisor Group champions the enduring value of financial advisors and is committed to being in their corner every step of the way. For more information visit http://www.advisorgroup.com.
SOURCE Advisor Group
Share this article