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Complete Financial Planning and
Client Engagement Platform
WWW.FINANCELOGIX.COM | 1-800-557-1780 | [email protected]
OVERVIEW: Historically, financial planning process and any financial planning software has been more of
a single use type of tools. Advisors who establish a relationship with a client could offer to create a
financial plan at some point of the relationship. Fewer firms would integrate the financial plan as part of
the annual review process with their clients, in case they actually had that process in place. The client
retention strategy of many advisory firms was to acquire the client’s assets and from that point on have
the least amount of communication with the client hoping that they would put their investments in the
“set it and forget it” mode. Where it might have worked for many advisors in the past, but due to the
major downturn and remaining high volatility in the market coupled with introduction of social media
and a more direct marketing and advertising approach by the vast majority of the institutions, clients are
much more informed and anxious about their finances. This requires a new approach to be taken in the
client acquisition as well as the client retention process. Financial Planning can no longer be a single tool
in advisor toolbox, but rather an integrated platform that helps advisors address the client’s demands of
professional asset management and financial guidance.
THE PROCESS: In addition to providing the planning software, Finance Logix can assist your firm in the
development of an effective repeatable process within branches as well as collaborate with the
marketing department to develop a winning marketing strategy and a rollout plan for the new advice-
centric approach to client services. Several modules within Finance Logix® platform were developed to
facilitate the client engagement and communication process as well as client retention, increase in AUM
and generate of new referrals. Gallup research shows that total revenue of an advisory firm increases
by 23% when advisors provide client centric advice.
ENGAGE EDUCATE COMMUNICATE
Finance Logix® Philosophy
Leveraging financial planning and innovative technology in the client Engagement process, Educating
clients about their financial situation and visually demonstrating how various factors can affect their
financial future as well as building an effective bridge of Communication between the client and advisor
is the key to a successful financial service.
ENGAGE: Engaging clients with the help of innovative web and mobile prospecting tools that uses basic
financial planning concepts to start a conversation with a client is an effective way start a relationship
with the client. Advisors can establish successful client relationships by offering an end-to-end
experience to prospective clients making transition from prospect to client a smooth and seamless
experience. Advisors can leveraging the popular Retire Logix app that has been featured in Money
Magazine as one of the best money moves of 2011, voted number one app on Horsesmouth.com, also
voted best app for baby boomers by The Street Magazine and other publications. This approach allows
advisors implementing cutting edge technology and stand out from the competition by offering their
prospects more than just a business card.
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EDUCATE: Advisors can help more clients by educating them about their financial future. Utilizing the
Finance Logix® slider based dynamic plan, you are able to walkthrough on the fly what if scenarios,
educating clients about their financial plan. Visually present the financial plan to the client while still
having the ability to print custom reports. Our comprehensive financial planning platform will enable
advisor to create full financial plans using either goal based or cash flow mode. Service the clients with
full financial plans including education, insurance and estate planning. Utilize Morningstar embedded
data to educate clients on their current positions and portfolio allocation. Include analytics and stats
sheets on various investments. Give clients a full end to end financial planning experience.
WWW.FINANCELOGIX.COM | 1-800-557-1780 | [email protected]
COMMUNICATE: Advisors can offer their clients the freedom to constantly monitor their financial health
through mobile and web access to the client portal. Allow them to log in and view their dashboard of
their accounts, balances, and insurance policies and oversee their progression on their financial plan.
Share files utilizing a secure military grade, 256-bit encrypted vault, eliminating the need for email
encryption tools. This will help increase retention and referrals by providing clients with cutting edge
tools and 24/7 access to their financial plan. Achieve a scale of personalization by leveraging Finance
Logix® book management tools and timely reacting to changes in clients’ financial situations.
PUTTING IT ALL TOGETHER:
The diagram below illustrated the usage of various Finance Logix® tools in the complete client-advisor
relationship starting from ads in the magazines to becoming a client and expanding advisor relationship:
Engage your clients through marketing and advertising messages that promote the value of the
web-based Client Portal and interactive Mobile tools. Educate your clients about financial
planning process and easily answer their questions during the client meeting using interactive
charts and sliders in the Finance Logix® Advisor Portal. Effectively Communicate with your
clients leveraging Book Management tools of the Advisor Portal, two-way Mobile
communication tools and feature-rich Client Portal.
Goal or Cash –Flow based
Financial Plan
Finance Logix Advisor Portal
Client Communication, Reporting & Plan
Updates
Finance Logix Client & Advisor Portal
Retire Logix Dashboard
Engage
Prospecting
Retire Logix
Client Portal
Marketing/Advertising
Educate
Communicate
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CLIENT PORTAL CLIENT INTERVIEW
The Client Interview is an extensive questionnaire
used to collect and gather financial data used in
preparing financial plans and reports. The five-
step structure of the Client Interview simplifies
the data collection process and guides users
through a sequence of sections to avoid missing
information. The client-centric questionnaire is
built for ease of use and formatted for sufficiently
gathering relevant data to aid advisors in
servicing clients. Both clients and advisors have
access to the same interface so even if a client
has difficulty understanding the questionnaire,
their advisors can easily assist the client in completing the Client Interview. The Client Interview is a
powerful tool that bridges the gap between client and advisor so even before first in-person meeting
with clients, an advisor will already have a clear understanding of the client’s financial situation. The
Client Interview is an extensive questionnaire, but when paired with the data integration capabilities of
Finance Logix, the client interview allows financial advisors and clients to exceptionally capture a
comprehensive and complete overview of a client’s financial situation.
DATA AGGREGATION
Finance Logix® provides Account Data Aggregation, a service available in Finance Logix® Client and
Advisor portals through which client’s financial data is collected from various institutions and
consolidated within our software for planning purposes.
VALUE TO CLIENT: With this service the advisors are able to offer greater value to their clients by
allowing them automatically download their account information from various financial institutions and
providing a single place where clients can view and monitor their complete financial situation. Account
data is updated daily using a high security 256-bit encryption interface that adheres to the BITS
Guidelines and the highest standards of security.
VALUE TO ADVISORS: Account Data Aggregation allows advisors gain access to clients’ complete
financial picture and deliver a more comprehensive financial advice. It is also a very efficient tool to
expand the relationship and increase advisor’s AUM.
INTERACTIVE PLAN/LIVE RESULTS
The Interactive Plan is an immersive and interactive module where clients can view their overall financial
projections for retirement, education, and more. The active capabilities of the Interactive Plan allow
users to adjust sliders corresponding to different financial assumptions to instantly examine the results
on their financial plans and future projections. By adjusting to different ‘what-if’ scenarios, financial
projections will be instantly displayed on a graphical and intuitive interface. Furthermore, advisors can
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be rest assured that the client’s changes to the assumptions will not affect any of the information
prepared in the client’s financial report. In this sense, clients are given full freedom in viewing multiple
scenarios without altering the financial preparations made by an advisor. The Interactive Plan is a
valuable component of the client portal in educating clients on the effects of different factors on their
investments and financial progress.
CLIENT COMUNICATION TOOLS (CALENDAR AND ALERTS)
Remembering the entire schedule and making a new appointment takes a lot of effort. Advisors
generally use CRM tools to keep track of the appointments and tasks. Finance Logix® platform provides
tools for the Client to keep track of all the appointments and tasks related to their finances and their
relationship with Advisors. Calendar available in the Client Portal can be synchronized with the Client’s
outlook such that even if the client does not log into the Client portal, they will be notified about an
appointment next time they check their email in Outlook. Advisors could also set alerts for any changes
in the document vault made by any clients such that the client is notified via email when a financial
report is ready for their review in the secure portal. Advisors can be alerted when the client uploads
their bank statement or other document needed for their next meeting. Additional alert capabilities can
be incorporated into the Client Portal and the Client and Advisor Mobile app.
ADVISOR PORTAL
OPPORTUNITY FINDER
Opportunity Finder is a great tool to use to
monitor your client's financial situation. When
using various data integrations supported by
Finance Logix® or the data aggregation plug-in,
your client's financial plan is automatically
recalculated when account balance information is
updated in the system. This may resolve in client
going from say a surplus in retirement to a
shortfall. The Opportunity Finder will show the
shortfall status of the client as well as the
projected amount of the shortfall at retirement.
Advisor may use this indicator to review the client's financial plan, make appropriate adjustment and
contact the client to communicate the necessary steps to resolve the shortfall.
Another example of a helpful use of the Opportunity Finder could be checking the shortfall status of a
client for education plan that they might have. Of course more importantly, advisor will be able to check
on client's life or disability insurance. This could alert advisor to have a conversation with the client
about reviewing possible protection plans in case of death or disability.
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CLIENT PROFILER
The Client Profiler tool allows advisors to be more
efficient in managing their client relationship. It
provides a quick searchable view where advisor
could focus on clients with specific levels of Net
Worth. Leveraging data aggregation and
integration with the bank’s back-office systems,
advisors now can look for opportunity to increase
their AUM using the Asset Managed search. For
example, they could search for all clients that
they manage less than 5% of assets. If advisor
learns about significant changes in value of
specific securities advisors can quickly find clients that hold these securities across Managed and
Outside-held assets, evaluate the exposure of the client’s portfolio and quickly make appropriate
adjustment and/or offer timely advice on outside asset held outside the bank. This information can also
be integrated with the CRM system that the Bank is using.
SECURE DOCUMENT VAULT
Introduction of a secure document vault provides an effective and secure mechanism to exchange
documents between advisor and clients. Implementation of a secure and compliant document
exchange interface into the client/advisor communication significantly limits the possibility of loss or
disclosure of the personally identifiable data.
RISK TOLERANCE / FINAMETRICA
We created a built-in interface inside the Finance Logix® platform into the FinaMetrica risk tolerance
software. FinaMetrica comprehensive risk tolerance questionnaire is a due diligence tool that takes a
scientific approach in assessing and documenting client risk tolerance. "FinaMetrica's focus is
psychological factors relevant to financial decision-making in terms that are meaningful to individuals
and their advisors."--Finametrica.com
MORNINGSTAR® DATA
Financial advisors and other investment professionals turn to Morningstar® for data that help them
research, analyze, present, and support their investment ideas.
Finance Logix® integrates Morningstar data directly into financial planning and asset allocation modules
giving advisors ability to analyze individual holding, various individual accounts as well as an overall
household allocation for the client. Holdings entered into the system are automatically classified
according to Morningstar security classification.
SECURITY CLASSIFIER
The integration with the Morningstar data provides ability to automatically classify a specific security
entered into the Finance Logix® manually or imported using a Data Aggregation or a data integration
feed. By entering a ticker symbol, the Security Classifier will automatically assign the appropriate Asset
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Allocation, Category and a Sub-Category of the specific holding. User can also enter the name of the
stock or a fund company and Finance Logix® will provide the list of securities available in the
Morningstar database that either provided by or match that company name.
FINANCE LOGIX® FRAMEWORK
In the current environment when financial institutions are considering making an investment in their
future technology infrastructure it is essential to choose the right platform that can be easily integrated
in the current and especially future enterprise infrastructure, would be easy to deploy, maintain and
allow for instant update. A clear leader in the past several years has been web based and software as
service.
Finance Logix Framework has been built on a highly customizable web-based enterprise platform. The
diagram below outlines all the components of the Finance Logix® framework and how they interact with
each other.
The data aggregation and data integration framework that currently connects to 35 different integration
partners provides a reliable technology partner that can efficiently and cost effectively adjust to always
evolving business requirements.
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RETIREMENT INCOME OPTIMIZER
Most recently we created a new financial
planning tool focused specifically on Retirement
Income. This tool has a very simple user interface
and is available on the web as well as on
iPads/tables. The approach we took with
Retirement Income Optimizer was to create a
sophisticated rule-based engine that will
incorporate some of the decision making logic of
experienced advisor when it comes to
recommendation of various solutions for the
client’s retirement income. RIO tool is
constructed on a very flexible platform that
allows enterprise to configure recommendations based on multiple custom levers either fixed or
calculated. In the article “Targeting Wage Earners” the Financial Planning magazine wrote Retirement
Income Optimizer “… combines a simple and intuitive user interface with a set of algorithms to provide
retirement income solutions. From an enterprise standpoint, this design is appealing because each
company that purchases the software can enter its own assumptions and algorithms to come up with
solutions it believes to be appropriate.” You may read the full article here:
http://www.financial-planning.com/fp_issues/2012_7/asset-allocation-retirement-clients-limited-
wealth-app-2679532-1.html