At the point of sale, the advisor needs to create an environment to facilitate discussion about what is going on. Asset-Map allows the advisor to click on a ‘box’ that represents a financial instrument and see the insight provided by those tools, at a point in time, and then easily go back to the big picture. The key is to help advisors stay zoomed out and get the detailed analysis only when necessary.
“We allow a direct-to-customer profiling process or connection with existing data structures, CRM portfolio, and financial planning. As a result, we don’t compete with all of these tools. We are a catalyst overlay that allows us to actually interpret those tools in a more effective manner.”
Asset-Map provides the capacity to tell somebody whether they are funded for their major goals. If they are not, it means that they do not have enough capital to cover it on an after-tax basis.
“We found that the Target-Maps have been an effective way to manage the conversation and to constantly track—like a GPS—how far away we are from something and, of course, how fast [we have to] drive [to] get there.”
The platform provides one single experience for both data entry and data presentation. The idea was that the user would have less to learn and would save time, and that the platform would be convenient in the meeting environment.
Asset-Map integrations
Integrations play an important role in the company. Asset-Map is integrated with Salesforce and Redtail on the CRM side, Orion and Riskalyze in the portfolio space, and is working on releasing MoneyGuidePro from the planning side through an open API. Adam says that they are actively seeking integration relationships and expanding visualizations to the other parties.
“We’ve been very specific [in] who we want to integrate with, with the idea that we can really complement what they do […] well in a visual format that advisors really appreciate and customers value when they receive it.”
The licensing model at Asset-Map is pay-per-advisor, with approximately 97% of advisors paying monthly and the rest annually. Typically, there are approximately 80 households per advisor.
Team structure and tech stack
The company consists of marketing, sales, customer success, and development teams, as well as an operational layer. Currently, they are actively expanding all of these roles with a very aggressive hiring strategy. The fastest-growing part of the business is customer success:
“We’re helping advisors actually communicate in a more human way with their customers, and teaching them ways to engage again is actually one of the biggest investments that we’ve made.”