Hortz: What is the significance of designing your web-based research platform to be available anywhere, on any device, at any time?
Eplett: More than 40 percent of Americans now do at least some of their work remotely. Financial advisors are certainly no exception. Whether they are traveling to visit clients, attending events to stay abreast of new topics, or simply away from their office, today’s advisors expect to have the tools they need to be productive wherever they are. Their clients are also adopting new expectations. Whereas several years ago a question about the markets or an investment could be fielded with an “I’ll do some research and get back with you in a few days,” the best advisors are now responding to these requests in real time. Advisors armed with YCharts often bring an iPad or laptop to meetings to access information and add value to their client interactions. We expect this trend to continue in an increasingly mobile world.
Hortz: How does your new Model Portfolio feature push your value proposition even further?
Eplett: One of the common pain points that we hear expressed by our market is how often they are required to switch between tools. One system for managing clients, one for reporting, one for marketing, one for compliance...and so on. We consistently ask our clients, “What are you doing right before you use YCharts? What do you do right after?” So often, the answer to one or both of these questions revolves around portfolio construction or analysis. By adding tools with those capabilities to YCharts, we’re expanding the amount of the investment process that can be completed in one place. We’re also reducing the number of times our client needs to toggle to a different screen or service. In some instances, it could provide an opportunity to discontinue another service and further reduce their expenses.
Hortz: Any last comments or suggestions to model portfolio creators based on your experiences in designing new tools?
Eplett: Realizing that time is our clients’ most valuable asset, we’re constantly focused on providing tools that suit their demands and give them time back in their days. By significantly reducing the time it takes to compile all of the factors needed in developing investment portfolios, we are allowing clients to focus more on the actual analysis needed to build better portfolios.
YCharts is going to save you a ton of time in the construction, comparison, tracking, and evolution of model portfolios. If you are an existing YCharts Professional customer, we provide you this hugely powerful functionality at no extra charge. If you aren’t yet a current YCharts Professional customer, Model Portfolios provides another reason to explore YCharts as a powerful and valuable tool to aid your practice.
The Institute for Innovation Development is an educational and business development catalyst for growth-oriented financial advisors and financial services firms determined to lead their businesses in an operating environment of accelerating business and cultural change. We position our members with the necessary ongoing innovation resources and best practices to drive and facilitate their next-generation growth, differentiation and unique community engagement strategies. The institute was launched with the support and foresight of our founding sponsors—Pershing, Voya Financial, Ultimus Fund Solutions, Fidelity, and Charter Financial Publishing (publisher of Financial Advisor and ETF Advisor magazines). For more information click here.