2. Hands On
What it Does: An online vault that stores and shares documents, accessible anywhere. You, and investors, can make changes with no one sending emails back and forth.
Why Use It: Gen Y Planning’s Sophia Bera put clients’ financial plans on Dropbox. “It protects [them] if something happens to me,” she says. “They can take the notes to another planner.”
Pricing: Free for up to 2G of data. Dropbox for Business starts at $12.50 per user per month.
5. In Sync
Product: emX Pro
What it Does: Among its suite of tools, investors and advisors can co-browse the same screen—and not have to launch a third-party app.
Why Use It: With screen sharing native to emX, it’s easier for you to pop into your client’s accounts with them, giving them immediate snapshots.
Pricing: Starts at $216 a month for emX, but $324 a month for emX Pro.
7. Psych Evaluation
What it Does: Takes psychometric measurements of investors to get a sense of their personality when considering financial matters.
Why Use It: Invessence built this custom questionnaire with DyMynd, a firm that uses financial, technology and psychological experience to create a better read on an investor’s mindset.
Pricing: Up to 25 bps, according to Aite Group.
10. Get It Just Right
Product: Riskalyze Pro
What it Does: Automates on boarding, and uses a risk questionnaire to produce a 95 percent probability range for investment outcomes.
Why Use It: Based on Nobel-prize winning behavioral concept called Prospect Theory. Plus sometimes, clients want “cool analytical data,” says Aite Group’s Sophie Schmitt.
Pricing: $129 a month or $1,419 a year with discounts for larger firms.