At SS&C, we are always looking ahead. But with the end of another year looming, it’s helpful to look in the rear-view mirror for some perspective. The most-read blogs, authored by both business and product leaders, provide a good gauge of the issues on advisors’ minds this past year – from the talent shortage to client attrition to the growing importance of technology as a catalyst for growth. So if you missed them the first time, here’s your chance to catch up.
First, the top three Advent.com advisory-themed blogs reflect top-of-mind topics for the wealth management industry:
- WealthTech Trends for 2022 and Beyond
In May, we dug into a report from F2 Strategy that concluded that wealth managers were investing more in technology to accelerate growth. Based on a survey of wealth firms, the report explored 10 trends in the industry in which technology plays a significant role. Chief among them: Crypto would become a viable investment, but it still needs to be better understood. Back office automation would accelerate. And interest was growing in portfolio customization at scale (made much easier by the Black Diamond® Wealth Platform). Notwithstanding the recent crypto meltdown, many of these findings remain relevant. Read the blog and judge for yourself.
- The Looming Talent Shortage and How to Prepare
SS&C Advent Co-General Manager Steve Leivent delved into what has become the most pressing issue for advisory firms: the lack of replacements for retiring advisors. While other industries have seen the “great resignation” turn into the “great layoff wave,” this issue remains acute for wealth management. Steve’s blog looks at how firms can more effectively leverage technology to enable advisors to service more clients at scale without waiting for new hires. Still a very timely message – check it out.
- The Wealth Transfer Opportunity
The story of intergenerational wealth transfer is far from over, and the estimated amount of money transferring from baby boomers parents to their heirs keeps getting bigger. The number-one cause of client attrition today is old father time taking them to their final resting place – after which their heirs are more likely than ever to shop for new wealth management alternatives. So how can advisors turn this grave prognosis into an opportunity and retain more moveable assets? Read the blog and the accompanying whitepaper.
And now, take a look at the most popular blogs generated by product leaders from the SS&C Black Diamond® Wealth Platform:
- Keeping Service at the Forefront
Advisors are in the service business. And even though Black Diamond delivers groundbreaking technology, we see ourselves very much in the service business. At least half the people on the product team are devoted to client service. There is an old adage about service: you don’t appreciate it until you don’t get it. So this blog takes you behind the scenes to see how much our client service team is doing to ensure our clients get the optimal value from the Black Diamond platform and their relationship with us.
- Looking ahead into 2022
At the beginning of a new year, we often outline what we expect the year to bring and how that influences our product development plans and service offerings. With the benefit of hindsight, it is interesting to look back and compare our expectations to what happened. Overall, we were prescient. The role of the advisor has continued to evolve, and technology is ever more critical for strengthening client relationships.
- The CRM Relationship
Which is the hub of your business, your CRM system or portfolio management platform? We would make the case that it is the combination of the two, which is why they need to integrate seamlessly. This blog looks at our work to bring a holistic client relationship view and client management workflows into Black Diamond so that it can work more effectively with your CRM of choice, most notably our own SS&C Salentica platform.
Shifting our focus to the year ahead, SS&C will continue to build upon the Black Diamond platform, deliver award-winning service, and harness the whole SS&C technology ecosystem to meet the needs of advisors in a changing environment. Happy New Year!
To learn how the SS&C Black Diamond Wealth Platform can support your advisory firm, request your personal demo, call 1-800-727-0605, or email info@advent.com.
