Tag: ClientLogix CRM blog
“It is not the strongest or the most intelligent who will survive but those who can best manage change.”
– Charles Darwin
Change Will HappenPer the talking heads on the various news channels, the investor class is currently “fat and happy”. Volatility in the market is at 25 year low, the economy is humming and the unemployment rate continues to drop. If I didn’t know any better, I would think this was August of 2007… life was good and then that pesky recession happened. How about August of 2001 – my friend Tom said at a barbeque at his house– “It doesn’t get any better than this”. We lost Tom on 9/11. And let’s not forget October of 1987 – hopefully some of you who are reading this were born then. The term Black Friday was coined and Black Monday was resuscitated. People at the local pub were asking me what it all meant because I had a business suit on. Each of these dates have something in common – Change. Certainly the change was not all the same:
- - An economic bubble burst
- - A group of terrorists attacked the US
- - Global trading, timing and technology converge in the worst way.
Industry Growth and the Changing Face of Your ClientIn the five-year period leading up to August of 1987, the Dow Jones increased by over 100%, peaking at over 2600. I know this number sounds quaint by today’s standard but this was the true beginning of the long growth period of the last 3 decades. There are many factors that contributed to this growth. I would argue that a little piece of tax legislation called ERISA which was put into place in 1974 was one of the biggest. Up until that point, pension plans, savings accounts and bonds were what most people used to save for their retirements. ERISA brought about a seismic shift in who was investing in the stock market. For the most part pension plans were for unions, executives and very large companies. In 1980 there were roughly 250,000 defined benefit pension plans. Even though this institutional money was significant in the market, it was nothing compared to what was ahead. By 1991, pension and retirement funds owned 40% of American common stock but, by 2005 the number of pension plans dropped from 250,000 to 80,000. This change was coming from retail investment fueled in part by the massive expansion of the Mutual Fund Industry as a global entity. This changed the face of the investor class. What worked to manage clients in the 80s, 90s, or even the beginning of 2000s is not going to work now or in the future. My grandmother who passed away in 2003 at the ripe old age of 105 was a teacher so she had a pension, but knew little about its investments. She just cashed the check. Imagine if all investors were like my grandmother.
Changing Demands on Relationship ManagersDepending on your company’s focus, the average relationship manager must keep track of the basics associated to accounts – names, addresses, phone numbers and email addresses of interested parties. But they also need to track anything from birthdays, spouses and kids names, investment objectives, the number of accounts and dollars a particular Financial Advisor has brought to the programs your company offers, and now more than ever, all that is social media. Let’s face facts – the way and how we communicate is changing, therefore the way a client is managed is changing.
What Should Your CRM Do For Your CompanyI believe that the most critical function of a CRM is to help you manage change. This is where comprehensive CRM comes into play. When change occurs in the market, and we know that happens often, you need to be prepared and so should your CRM.
- - Mail Merge for Email blasts or old fashion letters
- - Note your Emails
- - Schedule your Meetings
- - Document your phone calls
- - Determine which clients and accounts will be most impacted by change to get that email or letter
- - Track who hasn't gotten an email
- - Establish your opportunities, next steps and potential revenue
- - Inform you of holdings and investment trending at the individual and firm level so that you are prepared for that phone call even when it is unexpected.
“Change or die” – Alan Deutschman
About UNAPENEvery asset management firm has a different value proposition, otherwise there would be only one asset manager. Most CRM vendors want you to adapt to their system, which seems arrogant to us. Here at UNAPEN, we have a staff of industry experts that recognizes the unique value that you provide to your clients and helps adapt and integrate our ClientLogix CRM with not only the information from your core systems, but also with the way you do business. ClientLogix is flexible enough to accommodate how you work as a team, and prioritizes your actions to optimize your success and your clients’ satisfaction. Don’t spend time trying to figure out where information is or what to do next, that’s what computers are for… ClientLogix proactively pushes information to Compliance, Operations, Portfolio Managers, Executives, Sales and Marketing teams to make them work as a cohesive team. Experience the difference ClientLogix can make in bringing your firm to the next tier of growth and success.
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CRM Solutions Challenged by Complex Wrap/SMA Relationships
HNWI & Institutional vs. Wrap/SMA
CRM solutions for investment management have mainly focused on High Net Worth Individual (HNWI) and Institutional clients, but firms running Wrap/SMA business are stuck trying to shoe-horn their relationships with sponsors, branches and FA’s into a relationship structure that doesn’t really fit.
What’s worse is when I hear the exasperation of Wrap/SMA managers that have been searching for a CRM solution. First they have to explain their business to the CRM vendor, then they to go into a demo and find out that they are looking at a HNWI system that comes with only promises that it can be adapted to handle Wrap/SMA relationships.
Let's Take a Trip
How do your wholesalers currently plan a trip?
• Do they know how much business in each strategy has been gained or lost in the past quarter or year for a specific branch or FA?
• Are they aware of which FA’s in each branch are trending up or down, and which are not doing any business with them at all?
• How much more business could they create if they had this information at their fingertips?
Stop wasting time and money chasing information and trying to figure out what’s happening with your products and distribution channels. It’s a complex business and a tool that’s fit-to-task will provide insight into where you are successful and where you need to focus within an intricate web of products, sponsors, branch offices and financial advisors.
CRM Built for Wrap/SMA
It’s a great feeling when you show up with a product like ClientLogix CRM and these same managers breathe a sigh of relief and say “Finally, someone who knows our business and has the relationships that we need as part of their standard demo!”
And with pre-built data connectors into major portfolio accounting systems along with the flexibility to adapt to the highly variable data formats from sponsor platforms, business trends/flows and relationships that used to be nebulous are now clearly visible.
Providing this type of insight for both management and wholesalers can make a significant difference in the success of your firm.
Ontario, California – January 23, 2017 – Laser App Software, the premier provider of forms automation and management software for the securities and insurance industries, has announced their newest integration with UNAPEN, Inc., a provider of services, solutions and products for asset managers involved with Private Client, Institutional and Wrap/SMA business.
UNAPEN, Inc. provides CRM and other extensive business solutions to financial firms with a focus on those serving ultra-high net worth individuals. Their ClientLogix™ solution helps different groups within an organization work cohesively, keep on task, avoid errors and provide a higher level of client service. Choosing to integrate with Laser App was motivated by the objective to further advance client work flow by offering the most up to date e-forms library in the industry. Following a short installment period, UNAPEN began offering both Laser App’s desktop and cloud software solutions, Laser App Enterprise 11 and Laser App Anywhere, to clients. Delivering both desktop and cloud software solutions opens the door for more customers by eliminating any and all user limitations.
“Integrating with Laser App was a natural next step for us,” said David Gemma, CMO and Managing Director at UNAPEN. “We recently celebrated our 25th year in business. We have reached this point by listening to our clients and valuing their feedback. Laser App was a demand from our clients that we could not ignore and it has received a very positive response from all users.”
UNAPEN’s long history has seen it move through several economic cycles and thrive through each one by being responsive and nimble. The Meriden, Connecticut-based company found that turning to Laser App offered its clients a substantially more efficient work flow system. New demands are constantly arising for asset managers, and the solutions offered by Laser App enable UNAPEN clients to maximize technology utilization.
“Working with UNAPEN gave us the opportunity to work with a leader in the industry,” said Robert Powell, Vice President of Sales & Marketing at Laser App Software. “Our mission is to provide solutions that are resourceful to our clients across the financial services industry. Integrating with a new company means reaching new users who will benefit from our products.”
Laser App Software is used throughout the financial community as an efficient and simple work method solution. Laser App Enterprise is an installed solution that provides advisors with the ability to process electronic forms quickly. Laser App Anywhere operates with modern browsers on a variety of devices, offering a new level of convenience to the mobile financial advisor. UNAPEN Inc. chose to integrate both Laser App Enterprise and Laser App Anywhere simultaneously, a feat indicative of its impressive stature among solution providers.
About Laser App Software
Laser App Software creates advisor friendly solutions that combine state‐of‐the‐art forms-filling technology with a massive library of industry related forms. Forms are maintained by Laser App so representatives can focus on their clients, rather than filling out paperwork. Founded in 1995 by financial advisor Ed Beggs, Laser App has pioneered forms-filling in the financial services industry. For more information on Laser App, visit http://www.laserapp.com.
Since 1991, UNAPEN, Inc. has provided services, solutions and products tailored for asset managers involved with Private Client, Institutional and Wrap/SMA business. UNAPEN is comprised of seasoned professionals whose expertise in the securities industry uniquely positions them to advise clients on the value of technology. Our goal is to streamline operations and workflow, centralize data, and automate highly complex manual tasks to make your firm more successful and competitive. As a service provider and partner in your success, UNAPEN provides a unique skill set comprised of in-depth business knowledge specific to asset management, combined with unparalleled technological expertise and service delivery capability. For more information about UNAPEN, visit: http://unapen.com/.
ClientLogix™ is the Premier Enterprise CRM & Mobile solution for Investment Advisors, Wealth Managers and Family Offices - built on the Infor CRM platform. This solution helps people from different business units around the firm to work cohesively, prevent tasks from slipping through the cracks, avoid errors and provide a higher level of client service. Combine that with automated Compliance monitoring of all key data and your firm will evolve from being completely reactionary to actually having some foresight that can help to drive asset growth while avoiding Compliance and Client Relationship issues.
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ClientLogix CRM Integrated with Laser App for Wealth Advisors
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Infor Customer Experience Suite Acknowledged for Usability, Ease of Integration and Industry-Specific Capabilities.
Nucleus Research placed vendors in the Leader category by looking at advances in usability and functionality in three core pillars of CRM: sales, marketing and customer service. Leaders in the Matrix are not only delivering mobile and analytics capabilities, but advancing usability and access in both areas to help with greater productivity.
One area that sets Infor CRM apart from others is the focus on pre-building the business logic for specific micro-vertical markets. ClientLogix CRM from UNAPEN is the premier adaptation of the Infor CRM platform for Financial Services, providing an enterprise-grade solution that simplifies the daily challenges of Investment Advisors, Wealth Managers, & Family Offices.
About Nucleus Research
Nucleus Research is a global provider of investigative, case-based technology research and advisory services that provide real-world insight into maximizing technology value.
Infor builds business software for specific industries in the cloud. With 15,000 employees and over 90,000 customers in more than 200 countries and territories, Infor software is designed for progress.
Connect with David on Google+
6 Steps to Ensuring a Culture of Compliance
Over the past 15 years of providing enterprise CRM solutions to Investment Advisory firms, it was always the Chief Compliance Officers that were the most excited about a new CRM solution.
Step 4 in the following article, Breaking Down Silos, explains exactly why:
1) Fostering collaboration between business units,
2) Consolidating data from across the firm into a centralized portal to identify key trends & constantly monitor & proactively alert Compliance Officers of (potential) issues.
Automating Compliance Monitoring
There is just too much information for a CCO to sift through manually. The right CRM helps people from different business units around the firm to work cohesively, prevent tasks from slipping through the cracks, avoid errors and provide a higher level of client service.
Combine that with automated Compliance monitoring of all key data and your firm will evolve from being completely reactionary to actually having some foresight that can help to avoid Compliance and Client Relationship issues.
Connect with David on Google+
Infor CRM takes a top spot based upon analysts evaluation of rankings, features and tools.
Newly released SelectHub Leaderboard ranks top CRM systems across 20 key user and business requirements. One area that sets Infor CRM apart from others is the focus on pre-building the business logic for specific micro-vertical markets.
ClientLogix CRM is the premier adaptation of the Infor CRM platform for Financial Services, providing an enterprise-grade solution that simplifies the daily challenges of Investment Advisors, Wealth Managers, Family Offices, Private Equity, Hedge Funds & Fund of Funds.
Connect with David on Google+
CRM Vendor Research Report
Nucleus Research just released their Technology Value Matrix Second Half 2014: CRM industry research report in which Infor CRM moves to a top spot in their Matrix Leaders quadrant with the acquisition of Saleslogix (now renamed Infor CRM) and because of its major investment in redesigning the user interface – referred to by Infor as UX or user experience – to increase adoption and usability. (more…)
Saleslogix is the CRM foundation that makes the ClientLogix CRM & Business Intelligence solution for wealth management possible!
ClientLogix blends the Saleslogix CRM data with portfolio accounting(Advent Axys® and APX®, SchwabPT PortfolioCenter®, SS&C Portia®, SunGard Asset Arena®, Fiserv/CheckFree APL® etc.), billing, trading(Advent Moxy®) and other key systems to create an enterprise solution specifically for financial services, brought to you by UNAPEN. (more…)
Rollout of ClientLogix 5.0
The release of ClientLogix 5.0 powered by latest 8.0 version of Saleslogix has been very exciting and well received by new clients as well as those existing asset managers that have begun upgrading. As Application Services Manager, I am directly responsible for overseeing, implementing and enhancing the ClientLogix product to not only service the Investment Industry but also take full advantage of the core benefits that the underlying Saleslogix platform has to offer.
Hybrid Implementation – LAN, Web & Mobile
Over the past year, Swiftpage has heavily focused efforts on bringing the Saleslogix Web and Mobile platforms to the next level, allowing users more options than ever to access data in real time – from anywhere at any time.
In turn, ClientLogix is rewarding users with (more…)
HNWI & Institutional vs. Wrap/SMA
CRM solutions for investment management have mainly focused on High Net Worth Individual (HNWI) and Institutional clients, but firms running Wrap/SMA business are stuck trying to shoe-horn their relationships with sponsors, branches and FA’s into a relationship structure that doesn’t really fit. What’s worse is when I hear the exasperation of Wrap/SMA managers that have been searching for a CRM solution. First they have to explain their business to the CRM vendor, then they to go into a demo and find out that they are looking at a HNWI system that comes with only promises that it can be adapted to handle Wrap/SMA relationships.
CRM built for Wrap/SMA
It’s a great feeling when you (more…)
I went to the Advent Users Group (AUG) meeting in Chicago last week and I wanted to share some highlights and trends in the industry that were discussed. Over 40 AUG members attended and when they did an informal poll, it revealed that approximately 75% of group is currently using Advent Axys while the remainder is using or migrating to Advent Portfolio Exchange (APX). I have yet to see any attendees from firms using Advent Geneva and am waiting to see if any of the firms on Black Diamond will come into the fold moving forward. (more…)
ClientLogix™: A Central Element
Wallingford, CT: UNAPEN’s ClientLogix CRM integrates client service and sales activities as part of the new overall technology strategy at The Washington Trust Company. Click here to read about Elite 8 honoree Barbara Perino—SVP of operations and technology—and her work to overhaul legacy systems and build a powerful infrastructure to support the bank’s growth strategies.
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UNAPEN CEO will discuss “Ride the Tide: Shoring up your Firm’s Finances with Best-in-Class Fee Billing” from November 20–22, 2008
Wallingford, CT: November 14, 2008—Joseph Walker, CEO of UNAPEN, Inc. will participate in the Partner Panel during the upcoming Redi2 Annual Client Conference, to be held at the Biltmore Hotel in Coral Gables, Florida. The panel will address billing practices and standards while exploring how Redi2 fee billing software can help firms navigate today’s turbulent market currents. The conference will also discuss new features and functionalities of Redi2 Revenue Manager™ and share how clients are using Revenue Manager to directly impact their firm’s finances and operations.
UNAPEN has seen a steadily growing stream of requests for help in tackling challenges related to fee billing and revenue management for Institutional and High Net Worth clients. Walker will share his insight on moving from passive revenue collection to active revenue management and how integrating revenue analysis with ClientLogix provides a truly comprehensive way of seeing and managing your clients and distribution channels. The resulting knowledge and insight enables firms to focus on their most important channels and relationships for asset growth and retention.