Advisors on Fusion’s TAMP and Advisor OS can now access AdvisoryWorld applications, including the Advisor Proposal Generator, SCANalytics, Batch Risk Analysis tools and Acquire, a new client acquisition application, as well as white-labeled client reports, proposals and digital experiences.
“The one really nice thing about AdvisoryWorld is that we’re able to customize their tools,” says Borer. “Each one of our institutional clients can use AdvisoryWorld software designed to meet their specific needs.”
Acquire, which was also launched at the TD Ameritrade National LINC conference, is a tool that resides on an advisor’s website that guides visitors through a goal and risk profile questionnaire, establishes a recommended asset allocation and moves the client into a digital account opening process. With Acquire, AdvisoryWorld’s suite now covers the entire client lifecycle, starting with the prospect lead.
While the new AdvisoryWorld tool resembles a standard risk tolerance questionnaire at first glance, Acquire is fully customizable. Advisors can create their own goal-setting or risk-profiling questions and multiple-choice responses that feed into the tool’s rubric for asset allocation.
“We also allow advisors to ask more general questions to get to know their prospects and clients,” says Wilson. “They can ask about clients’ likes and dislikes, preferences for communication and also risk profile questions in the same questionnaire. Since many advisors develop their own questionnaires, we wanted them to be able to plug their own work into our application."
The AdvisoryWorld toolkit also integrates with portfolio management tools and financial planning platforms to offer planners a seamless workflow. Advisors can continue to feed information from Acquire to construct investment recommendations with their own models.
For example, one of Fusion’s institutional clients also offered insurance products like indexed annuities and universal life policies, so the Acquire questionnaire was reconfigured to recommend certain clients put assets into a fixed index annuity if their responses indicated a suitable risk profile.
“We design our tools keeping the advisor and their processes and preferences in mind,” says Wilson. “It’s important that advisors are able to customize every step of a website visitor’s interaction with acquire, then send that information to a proposal tool and third party software to continue the process of onboarding the client."
Acquire produces what Wilson calls “the reveal,” a customized results page which can give clients, prospects and website visitors basic information about who they are as an investor and an asset allocation recommendation.
The AdvisoryWorld software also integrates with most advisor-oriented client relationship management applications, forming a web-to-lead workflow for advisors that can create proposal documents and investment policy statements, and feed information gathered by Acquire through all account opening documents and processes.