Increase Revenue and Client Service by Aggregating Held-Away Assets

I’m seeing two trends emerge in 2010 through the work I perform with wealth management firms.

First, firms want to implement a document management system to efficiently manage the volumes of paperwork and forms generated throughout the financial planning process. Second, advisers want to increase revenue and client service by capturing data on held-away assets through account aggregation software.

Late last week I posted commentary why document storage isn’t document management at advisors4advisors.com. On the account aggregation side, I recently learned of a webinar offered by ByAllAccounts aimed to address this opportunity.

Here’s a short clip from a press release issued today:

On Wednesday, February 24, ByAllAccounts will host a webinar to release findings from the Q1 Advisor Survey. The event – “Do you charge enough for held-away assets?” – will give financial advisors insight into how they compare to their peers in terms of billing practices. The webinar will address the following questions:

• How confident are advisors in increasing revenues in 2010?
• What percentage of advisors report, advise and bill on held-away assets?
• How much are advisors charging for this advice and reporting?
• What is the revenue potential for billing on held-away assets?

To register, visit: https://www2.gotomeeting.com/register/517328579

I’ve written about ByAllAccounts several times on FPPad, so here are some of the more popular posts you may find of interest:

• Done with Quarterly Reports; How About You?
• The Custody Conundrum at Advisor Perspectives
• Technology Tips to Cut Costs and Increase Revenue