The role of financial advisor has changed. What should WealthTech offer them now? The following article is based on an interview with Sean Brown, president and CEO at YCharts.

“The advent of model portfolios is creating disruption in the wealth management space.” This statement belongs to Sean Brown, president and CEO at YCharts, which provides a web-based investment research platform with unique visualizations, extensive data on equities, mutual funds, exchange-traded funds and economic indicators, along with tools that enable better client communications. Brown says that forward-thinking wealth management technology companies are helping advisors conceptualize, create and manage standardized portfolios in order to both scale their operations and provide better investment management advice.

More Templates, More Guides

Advisors want to solve their problems in a few clicks. Such things as visuals, guides and improved charting capabilities help them do their work more efficiently. Providing an advisor with powerful capabilities enables them to provide better prospect and customer support. As an example, Brown outlines the partnership between Seeking Alpha and YCharts.

“Seeking Alpha contributors have access to YCharts to quickly create a visual element and snap that into their post to better relay metrics and insights to their readers,” he says.

The new world around model portfolios suggests that it might make sense to an advisor to integrate between portfolio accounting systems and research tools. However, doing so requires a pragmatic approach when deciding if it makes sense.

“We want to create a fluid workflow for advisors," says Brown, adding that it starts in the portfolio accounting system, and then takes it to YCharts to further research, visualize or compare against another model portfolio. Next, advisors can incorporate what they've learned into the portfolio and then push it back to the accounting system.

Stay In Your Lane

Brown and his team at YCharts prefer to stick with a pie slice they feel very good about; namely, analysis and visualization. They aim to enable advisors to incorporate visuals to help them better tell their stories.

“We’re hearing two things from advisors," Brown says. "One is, ‘I need to justify my fees’. The best way to do that is by being able to demonstrate alpha in their investment approach. Two, they’re  saying, ‘Hey, I need to get more clients; I need to step up my marketing, thought leadership and communications to gain new clients, but I’m pinched for time.’”

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