Randor, Pa.-based eMoney Advisor has announced a series of tools it will launch next year, highlighted by a premium version of its client portal that it says will allow for a more customized user experience.
The Premium Client Portal, which will launch in the first half of next year, will enable clients to explore their finances in a more intuitive way, according to Chad Porche, eMoney Advisor's senior vice president of product management.
Clients can use the portal to research topics such as buying a car or the cost of education, then save the information or share it with their advisor, he explained.
“The Premium Client Portal empowers clients to explore topics that are important to them without disrupting their existing financial plan,” Porche during the eMoney Summit online conference this week. “This encourages greater interaction with their plan and with you [the advisor], which is crucial for building loyalty and retention.”
Users will also be able to create their own homepage highlighting topics relevant to them. Advisors can see the homepages and quickly learn their clients’ priorities, Porche said.
“This level of personalization ensures that every time they log in, their client portal experience is tailored to their unique needs and interests,” he said.
The portal will be available as a mobile app through the Apple Store and Google Play that offers biometric sign-ins that don't require users to remember a password, Porche said.
New Tools
Along with the portal, eMoney also announced the launch of other new tools, including some that automating advisor operations.
“We will shift some of the planning burden onto our technology and let it do the heavy lifting,” Porche said. “By automating aspects of the planning process, we enable you to save time, create more plans for more people, and ultimately scale your practice.”
As one example, he said, the firm will launch eMoney Insights next year, a tool that creates a real-time analysis of all available client data while considering any existing planning techniques.
“Once the analysis is complete, you’ll receive multiple planning approaches consisting of different techniques that, when applied together, result in a successful plan,” he said.
Also next year, eMoney will launch Financial Scorecard, which can assign a score between one and 10 for different aspects of a client’s financial life, said Ricky Illigasch, vice president of product management at eMoney.
“This tool is designed to help you easily identify opportunities within your book of business by providing a simple normalized indicator of health for various aspects of your client’s financial life,” he told the conference audience.
The categories include retirement readiness, investment performance and risk management, and advisors will be automatically alerted if client scores are too low, he said.
“With these scores you can quickly pinpoint which topics need attention, making it easier to prioritize and address your client’s most pressing financial needs,” he said. “This enables you to deliver more targeted advice and uncover new planning opportunities enhancing both the clients’ satisfaction and business growth.”