What you need to know
- Cambridge’s new RetireTRAC digital marketing solution is now available to its more than 3,800 consultants and other financial professionals.
- BNY Mellon provides Aviva Investors with a fully integrated operating model for some front office support services, as well as middle and back office activities.
- GeoWealth is making several upgrades to its TAMP platform for RIAs.
financial solutions company Cambridge It introduced a new digital marketing solution that it said Wednesday is now available to its 3,800-plus advisors and other financial professionals.
The company said RetireTRAC, which is backed by Cambridge, is a comprehensive retirement planning and preparedness system and a potential client conversion tool.
The new retirement solution is designed to help clients better understand the complexity of the planning process and contribute to “the comprehensive planning approach that today’s clients desire,” the company said.
Meanwhile, as a lead conversion tool, RetireTRAC can help advisors convert leads into customers and uncover new and surprising insights about existing customers, the company said.
The solution plunges clients into the planning process from the first appointment, with clients taking a five-minute online assessment where they rate themselves in 20 areas to determine their level of retirement readiness.
Cambridge said the assessment results generate a personalized outcome and RetireTRAC’s business plan is tailored to each client or prospect. “The score measures where the client is today, while the business plan identifies the elements that need to be addressed to make the client’s retirement vision a reality,” she added, providing a “road map” for future hires.
There are two subscription levels to choose from in the RetireTRAC publication: Bronze and Platinum. The Bronze tier includes unlimited access to the tool, including the standard survey and dashboard, individual customer reports, and customer progress reports.
A platinum-level subscription includes Bronze tier features and adds the ability to add a professional’s company logo to reports, customize a survey, and access a resource library for presentations and brochures for specific appointments.
Aviva Taps BNY Mellon
Aviva Investors, the global asset management company of Aviva plc . has been appointed Bank of New York Mellon To provide a fully integrated operating model for some front office support services, as well as middle and back office activities.
In a joint announcement on Tuesday, the two companies said that as part of the long-term deal, BNY Mellon will provide a comprehensive solution to Aviva Investors, featuring traditional asset services including custody, fund management, deposit capabilities and front office support including authorization monitoring and performance measurement.
A key part of BNY Mellon’s go-to model is Data Vault, a cloud-based data platform that companies said will enable Aviva Investors to unlock insights and accelerate access to analytics for teams across the investment lifecycle. They said this would provide Aviva Investors “an improved ability to focus on core investment and client-related activities”.
As of June 30, 2022, BNY Mellon had $43 trillion in assets under custody and/or management, and $1.9 trillion in assets under management.
GeoWealth launches consulting division
GeoWealth announced Several upgrades to its turnkey asset management platform for RIAs which it said is focused on providing advisors with greater customization and choice in their investment management programs including investment guidance, due diligence, service and support.
For advisors looking for concierge-level guidance and support in building custom Unified Managed Account solutions, GeoWealth has launched an in-house investment advisory division.
To provide the best customer service, advisors are now asking for more control, flexibility and customization when managing client portfolios. GeoWealth “responded by expanding its model market, increasing its list of vetted managers by more than 200 percent,” she said.
Consultants who make use of GeoWealth’s proprietary GeoWealth platform always have the flexibility to build their own models, choose third-party model portfolios, or combine the two via custom UMAs. GeoWealth has now also enhanced the ability of advisors to customize on the platform by setting up strategies for separate managed accounts and individual asset class, or “quantum level,” for use as core elements of UMA’s customizations.
GeoWealth also announced the release of an integrated manager portal module on the platform which it said was developed to “better enable rebalancing and reallocation at the model level.” The company said that the manager portal will allow third-party managers, as well as advisors who manage client portfolios, to seamlessly communicate portfolio updates to the GeoWealth trading team for implementation.
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