Fox Financial Planning Network has changed its name to AdvisorTouch to avoid becoming boxed in by conventional views of what a financial advisor network can offer, according to CEO and founder Deborah Fox.
“It came about because we felt a need to differentiate our company and better represent what our offerings are,” Fox said. “There have been quite a few financial advisor “networks” that have risen in popularity and they’re much different.”
Fox, who has been a financial advisor for more than three decades, founded the network in 2009 to consult with wealth management firms on enhancing profitability, compliance and growth using the expertise garnered over her career in the industry as a means to help other advisors. In 2015, she unveiled the AdvisorTouch Symphony, which helped firms integrate robo-technology with traditional practice management as a way to make tech tools more accessible for the average advisor.
Fox originally founded Fox Financial Planning Network out of concern that advisors were failing to adopt best practices, tools and tech in a quickly changing industry, according to a statement. Fox wanted to make sure advisors and firms understood that AdvisorTouch was applicable to all sorts and sizes of firms.
“We serve advisory firms no matter what their business model is," she said. "We have resources no matter what model a firm adopts.”
The company also announced AdvisorTouch Collaborative, a social platform for advisors to collaborate and ask each other questions. Collaborative uses AI technology to help advisors more immediately access specific materials or templates through the platform, Fox said.
"That will take some time for people to understand what the capabilities are," Fox said. "I think it's really cutting edge in terms of creating the ability to collaborate on a platform."
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