In my experience, the use case for something like this (customized advisor portal/client portal) would be limited to enterprise firms with multiple office locations, TAMPs, etc. Otherwise, firms should be able to utilize integrations into their existing CRM from their portfolio system (e.g. Orion, Black Diamond, etc.), or utilize a tool that already has the two combined. The cost is probably prohibitive for most firms. Now, I know Orion and tools like eMoney/MGP don't handle things like annuities or insurance well. That's a result of the carrier not these systems; most carriers are still operating 10-15 years behind custodians in terms of digitizing feeds. So for that, I could see the need to pull in external data and push elsewhere to give your client a full "picture." I spoke to the head of product at Edelman Financial Engines last year about their "client portal" and "TAMP portal" as they had built it in-house so it was custom made for them. 4 years after launch, they regretted this and wished they had used native features through their CRM instead of being custom built. It was costly and time consuming to maintain. When big firms like that share their lessons learned, I listen.

@Parker Ence @Brenda McCombs - sounds like a great thing to put into your client agreements so you are covered on the front end for all new clients!

@Tara Shannon I was just at Orion's office yesterday! I know they have BIG plans for the RT/Orion integration, and hinted we may hear all about it at Ascent next year! I don't know anyone who has personally used this, however I have used the integration with Orion to Salesforce and it was wonderful. If the firm gets too big though, the integration starts to have downsides, primary one being costs. The RT/Orion integration should be free though, at least it was last year. Another downside can be the performance, and limit to customization you may need as you grow.

From past experience at firms like Mariner Wealth Advisors and Creative Planning, I saw these differences between segments (UHNW, HNW, MA, etc.) 1. Client Meetings - some quarterly, others semi-annually, some annually. Duration was also different and who was included in a meeting was also considered by segment. 2. Touchpoints tracking - ensuring Advisor touchpoints (email/calls) were completed based on outline for each segment, with lower tiers only annually. 3. Gifting - higher vs. lower for segment (dinner, bottle of wine, anniversary or birthday present etc.). 4. Events - only certain segments invited to client appreciation events, prospecting events, educational seminars. 5. Pricing - Tier fees so that smaller clients pay a slightly higher fee to be compensated adequately for service. 6. Customizations - for smaller clients, sticking with models and limited exceptions (e.g. custodian, security substitution, etc.), to ensure streamlined processes. 7. Billing Validation - reviewing only top segments for billing, reporting before finalizing (always have validation for outliers such as a fee amount showing 5% higher quarter over quarter). This ensures the bulk are pushed through the process, while top tiers are manually reviewed. 8. Reporting - lower segments do not get quarterly reports from the portfolio system. Many firms moved away from the physical mailing of these and just push them into the client portal vaults. 9. Financial Planning - lower segments may not have a plan done for them, or could pay a financial planning fee ($750-2500) to obtain their plan. Now, to offer white glove service to all clients - simple things like sending a handwritten card on their birthday goes a long way. Remembering key life events and sending a note or quick video clip with well wishes. I've seen offices gather around and sing happy birthday on video to send that to the client. Also, ensuring your founder takes a second to greet people is also another great way to make them feel "wowed." When I was at Creative Planning, a now $300B firm, the CEO would always have Advisors walk their clients past his door and he would shake their hand and say hi. Even though the 5min was blocked on his calendar, it made them feel like he stopped his day to see them!

Wow, @Sarah Ludden - Sorry it was so long!! 😆