Fragmented Systems Are Killing Your Firm's Growth
No advisory firm sets out to build a fragmented technology stack. It happens gradually. A CRM here, a cashflow planning tool there. A risk profiler from one provider, a client portal from another, the list goes on. Before long, your advisers are logging into eight or ten different systems simply to complete one piece of advice. It has become accepted as ‘just the way things are,’ but is that really good enough?
The cost isn’t software licences
Most firms calculate their monthly subscription fees, but very few see the hidden costs of this dissipated approach.
Every time information has to be entered into two separate systems, checked manually or copied between documents, your business is paying extra. Every disconnected system creates:
- More administration
- More opportunities for human error
- More compliance risk
- More staff training
- More supplier management
- More support contracts
- More integration costs
- More delays in serving clients
The cost isn’t another £50 or £100 per platform, per month. It’s the thousands of hours your team spends every year moving data instead of delivering advice.
Consumer Duty has increased expectations around data quality, record keeping and consistency. When information is being rekeyed, every new field is a potential compliance issue.
Ask yourself, if a client’s address changes, how many systems need updating? If risk tolerance changes, is every document using the latest information? If an adviser updates client objectives, are they reflected throughout the advice process
When your systems are fragmented, the answer to these questions is usually ‘hopefully’! This isn’t what any compliance professional wants to hear and it certainly isn’t a scalable operating model.
AI is only as good as your data
The whole world is talking about AI and its capabilities, but very few adviser firms have considered whether their existing technology can support it adequately.
AI cannot interpret disconnected or incomplete client data meaningfully. If it lives across multiple software platforms, more time is spent trying to find the right information than helping advisers.
This is why AdviceObjects has been designed differently. Instead of connecting multiple independent products, we’ve created a single platform where client data is captured once and reused throughout the entire client journey. This foundation makes AI genuinely useful.
Instead of searching multiple systems, inside AdviceObjects AI simply has to look at one client record, one source of truth.
Clients don’t care which CRM you use
Work to improve your client experience starts behind the scenes. For it to become seamless, your systems must be equally seamless.
Clients do care when:
- They are asked for the same information twice
- Documents are inconsistent
- Reviews take weeks, not days
- Advisers spend meetings scrambling for information
- Different departments or employees ask the same questions
Many firms assume growth requires more administrators, but many are simply hiring people to manage inefficient processes.
When data only needs entering once, workflows can be automated and documents generated without increasing the administrative burden. This means you can support significantly more clients without significantly greater overheads.
The integration myth
Every time a new challenge appears, you’re encouraged to buy another new software product. That’s what’s happening currently with AI and has ultimately led to the fragmented technology stack you’re now operating.
What you end up with are multiple products, integrations and implementation projects. They’re all designed to solve problems created by having too many systems in the first place.
Integrations have their place, particularly for connecting product providers, custodian platforms and external data sources, but your core business operations shouldn’t depend on them. You can’t achieve meaningful growth when you’re stitching together numerous applications to complete everyday tasks.
Our philosophy at AdviceObjects is a bit different. We’ve created a single environment that brings together:
- CRM
- Client onboarding
- Cashflow planning
- Client portals
- Workflows
- Communications
- Document generation
- Suitability reports
- AI
When you use our platform, data is entered once and is then available across the entire advice process. This means less administration, fewer errors, lower software costs and a much stronger foundation for automation and AI.
Most importantly, the administrative saving gives advisers time to do what clients actually value – provide advice.
So, instead of asking which new system you should buy next, perhaps you need to be questioning why you have so many systems in the first place? The firms that thrive through the next decade won’t be the ones with the most software, it will be those with integrated technology, where data flows effortlessly around the business.
That’s exactly what AdviceObjects was built to deliver. For more information about how we’re helping clients grow and scale, without increasing overheads, don’t hesitate to contact us for an initial discussion or demonstration. Alternatively, email: contact@adviceobjects.com
Emphasize your product's unique features or benefits to differentiate it from competitors
In nec dictum adipiscing pharetra enim etiam scelerisque dolor purus ipsum egestas cursus vulputate arcu egestas ut eu sed mollis consectetur mattis pharetra curabitur et maecenas in mattis fames consectetur ipsum quis risus mauris aliquam ornare nisl purus at ipsum nulla accumsan consectetur vestibulum suspendisse aliquam condimentum scelerisque lacinia pellentesque vestibulum condimentum turpis ligula pharetra dictum sapien facilisis sapien at sagittis et cursus congue.
- Pharetra curabitur et maecenas in mattis fames consectetur ipsum quis risus.
- Justo urna nisi auctor consequat consectetur dolor lectus blandit.
- Eget egestas volutpat lacinia vestibulum vitae mattis hendrerit.
- Ornare elit odio tellus orci bibendum dictum id sem congue enim amet diam.
Incorporate statistics or specific numbers to highlight the effectiveness or popularity of your offering
Convallis pellentesque ullamcorper sapien sed tristique fermentum proin amet quam tincidunt feugiat vitae neque quisque odio ut pellentesque ac mauris eget lectus. Pretium arcu turpis lacus sapien sit at eu sapien duis magna nunc nibh nam non ut nibh ultrices ultrices elementum egestas enim nisl sed cursus pellentesque sit dignissim enim euismod sit et convallis sed pelis viverra quam at nisl sit pharetra enim nisl nec vestibulum posuere in volutpat sed blandit neque risus.
Use time-sensitive language to encourage immediate action, such as "Limited Time Offer
Feugiat vitae neque quisque odio ut pellentesque ac mauris eget lectus. Pretium arcu turpis lacus sapien sit at eu sapien duis magna nunc nibh nam non ut nibh ultrices ultrices elementum egestas enim nisl sed cursus pellentesque sit dignissim enim euismod sit et convallis sed pelis viverra quam at nisl sit pharetra enim nisl nec vestibulum posuere in volutpat sed blandit neque risus.
- Pharetra curabitur et maecenas in mattis fames consectetur ipsum quis risus.
- Justo urna nisi auctor consequat consectetur dolor lectus blandit.
- Eget egestas volutpat lacinia vestibulum vitae mattis hendrerit.
- Ornare elit odio tellus orci bibendum dictum id sem congue enim amet diam.
Address customer pain points directly by showing how your product solves their problems
Feugiat vitae neque quisque odio ut pellentesque ac mauris eget lectus. Pretium arcu turpis lacus sapien sit at eu sapien duis magna nunc nibh nam non ut nibh ultrices ultrices elementum egestas enim nisl sed cursus pellentesque sit dignissim enim euismod sit et convallis sed pelis viverra quam at nisl sit pharetra enim nisl nec vestibulum posuere in volutpat sed blandit neque risus.
Vel etiam vel amet aenean eget in habitasse nunc duis tellus sem turpis risus aliquam ac volutpat tellus eu faucibus ullamcorper.
Tailor titles to your ideal customer segment using phrases like "Designed for Busy Professionals
Sed pretium id nibh id sit felis vitae volutpat volutpat adipiscing at sodales neque lectus mi phasellus commodo at elit suspendisse ornare faucibus lectus purus viverra in nec aliquet commodo et sed sed nisi tempor mi pellentesque arcu viverra pretium duis enim vulputate dignissim etiam ultrices vitae neque urna proin nibh diam turpis augue lacus.
