PHOENIX, July 11, 2017 /PRNewswire/ -- Advisor Group, one
of the nation's largest networks of independent financial advisory
firms, comprised of FSC Securities Corporation, Royal Alliance
Associates, SagePoint Financial and Woodbury Financial Services,
today announced the launch of a comprehensive digital onboarding,
advice and data aggregation platform for financial advisors
affiliated with Advisor Group and their clients. Launched in
alliance with Jemstep, a leading provider of technology-enabled
wealth management solutions owned by Invesco, the new platform will
be fully supported by both Pershing and Envestnet, Advisor Group's
primary clearing and advisory platform partners, respectively.
The platform will enable advisors to seamlessly onboard new
clients and open new accounts through one consolidated and entirely
digital process accessible through any web-enabled electronic
device, thereby eliminating most paperwork. The platform will
support a broad spectrum of Advisor Group's advisory and brokerage
solutions, encompassing cutting-edge data aggregation and account
maintenance functions as well as a fully digital advice solution
accessible through advisors' websites for clients who prefer a
self-directed wealth management experience. Advisor Group
expects to roll out the new platform during the fourth quarter of
2017.
Advisor Group President & CEO Jamie
Price said, "So-called 'robo-advice' solutions today have
become just table stakes for an industry entering a new fiduciary
era. The launch of this platform provides our advisors with
the technology-enabled tools they need to meet rising client
expectations for a wealth management experience that fits their
lives, delivered through solutions that maximize accessibility and
flexibility. At the same time, our platform will eliminate
most of the traditional 'pain points' for advisors across the
industry when it comes to time-consuming paperwork that typically
accompanies the new client onboarding and account opening
process."
Advisor Group's new digital onboarding, advice and service
platform is expected to address a number of crucial recurring
challenges for advisors in the independent space as follows:
- Digital Onboarding and Paperless Workflows. The platform
offers a greatly streamlined and paperless account opening process,
both for traditional advisor-led client relationships and for
client-driven relationships on the platform's fully-integrated
digital advice solution. Following the onboarding process, the
platform will provide clients with access to a secure,
mobile-enabled web portal featuring paperless reporting and
monitoring functionality, driving further practice efficiency for
advisors and reducing unwanted paper deliveries for clients.
- Funding, Asset Transfers and Asset Allocation. The new
platform is also expected to enable clients to more easily transfer
assets from other institutions to their brokerage and advisory
accounts as needed by initiating a paperless, e-signature-based
transfer process at the client's discretion. Through seamless
integration with both Pershing (for brokerage accounts) and
Envestnet (for advisory solutions), the new platform will allow
advisors to quickly and efficiently allocate client assets to the
most appropriate investment solutions across the full range of
Advisor Group's offerings.
- Account Aggregation. The new platform will enable the
firm's financial advisors and their clients to view all client
assets through a single consolidated interface. This will
include the ability to view assets held at other institutions, such
as bank balances and 401(k) assets, through the client portal. In
addition to offering clients the convenience of consolidated
reporting and monitoring across all their assets, this
functionality is expected to drive new opportunities for advisors
to increase their "wallet share" by identifying new ways to serve
existing clients.
- Digital Advice. The digital advice component of the new
platform will enable the firm's advisors to effectively serve a
broader range of account sizes by allowing them to engage select
clients through the platform's fully-integrated Jemstep Advisor Pro
digital advice solution. The digital advice solution can be
customized as an advisor-branded offering and can be made
accessible to investors seeking a personally-driven wealth
management experience through the advisor's website.
Jemstep President & CEO Simon
Roy said, "The independent financial advice industry is
evolving rapidly, and advisors need next-generation tools in order
to provide clients with the service experience they deserve while
keeping their practices running at peak efficiency. Jemstep is
pleased to partner with Advisor Group, Pershing and Envestnet in
empowering the firm's advisors to face a fast-changing industry
landscape with confidence about their ability to grow and succeed
in the future."
Mr. Price concluded, "With this new platform, Advisor Group is
showing once again that we are firmly in our advisors'
corner. We're proud to take this step forward in providing
our advisors with the industry-leading technology resources they
need to effectively capture and support client relationships of all
sizes on a scalable basis, while significantly enhancing the
operational efficiency of their practices."
About Advisor Group
Advisor Group, Inc. is one of the nation's largest networks of
independent financial advisors serving over 5,000 advisors and
overseeing approximately $160 billion
in client assets. Headquartered in Phoenix, AZ, the firm is mission-driven to
support the heroic role that advisors can play in the lives of
their clients, offering securities and investment advisory services
through its subsidiaries FSC Securities Corp., Royal Alliance
Associates, Inc., SagePoint Financial, Inc. and Woodbury Financial
Services, Inc, as broker/dealers, registered investment advisors
and members of FINRA and SIPC. Cultivating a spirit of
entrepreneurship and independence, Advisor Group champions the
enduring value of financial advisors and is committed to being in
their corner every step of the way.
For more information, please visit www.advisorgroup.com.
Follow Advisor Group into the Future: @AdvisorGroupBDs on
Twitter #AGFutureIsNow
About Jemstep
Jemstep is a market-leading provider of financial
advisor-focused digital advice solutions. Established in 2008, it
was one of the first digital platforms to focus on helping advisors
deliver professional advice to their clients online. The Jemstep
Advisor Pro platform helps advisors scale their business
efficiently by providing a full suite of highly flexible technology
solutions that can be easily integrated into existing systems and
business models. Invesco acquired Jemstep in January 2016. For more information, please visit
www.jemstep.com.
About Invesco
Invesco is an independent investment management firm dedicated
to delivering an investment experience that helps people get more
out of life. NYSE: IVZ; www.invesco.com
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SOURCE Advisor Group