Over the course of several hours, nearly two dozen fintech firms took to Asset-Map’s virtual stage for 10-minute sessions during AdviceTech.LIVE 2023 to showcase their wares.
During the stream of presentations, several companies announced or launched new features, upgrades and integrations.
Susan Theder, chief marketing and experience officer at FMG Suite, announced two new enhancements to their digital marketing platform.
The first helps advisors create compliant content for Instagram using a preloaded library of content. Users can create carousels, posts and reels through an integration with the online graphic design platform Canva. While FMG has created templates to use or follow, advisors can record themselves reading from an included script for each. Animation and text can then be added by the advisor before posting.
A second announcement makes use FMG’s recent acquisition of MyRepChat, which was completed in October (MyRepChat was first integrated with FMG Suite in 2019). Using features from the application, Advisors can now receive daily reminders about opportunities for texting clients from within their CRM (which includes support for Redtail, Ebix, Wealthbox, MarketingPro and Salesforce). For example, FMG Suite can note coming events including a client’s upcoming vacation. Advisors can then schedule a text for the first day of their vacation.
Philipp Hecker, CEO of Bento Engine, debuted the company's new “Install Now” capability, a self-service onboarding method that seeks to allow advisors to embed Bento programs directly into their existing CRM themselves.
The new feature guides advisors through the complete onboarding cycle, including product selection, API integration, customization and billing.
This proactive and predictive events startup is meant to help advisors automate client outreach and was launched in 2021. In 2022, Bento Engine launched the "Life in Numbers" program, which focused on 15 distinct age milestones that matter in clients' and prospects' lives.
Bento Engine has existing integrations with CRMs including Salesforce (and the XLR8 overlay), Orion Redtail, Wealthbox, Microsoft Dynamics, HubSpot and Practifi.
“Advisors keep using their CRM as is,” said Hecker. “Via API, advisors can mine CRM data for advice opportunities.”
Hecker said advisors can then pull content from Bento Engine’s library and schedule proactive, age-based tasks directly in the CRM.
Not to be outdone by the assembled guests, conference host H. Adam Holt, founder and CEO of Asset-Map, outlined several new and upcoming features.
Asset-Map users now can take a current client and overlay comparative data from peers in their same age range. Advisors can use the stenciling tool to draw directly on the application's map itself.
Holt said they had also rolled out a new 'drafts' feature which shows a before-and-after map given different changes and investment recommendations.
Current Asset-Map integrations include Morningstar, Black Diamond and Schwab Advisor Center, while Addepar was still listed as a work in progress.
Advisors can now also completely customize the application with their own branding (removing all mentions of Asset-Map).
Holt said a new feature, which was not ready yet but would be soon, was the “Client Asset-Map Experience,” which will allow clients to have digital access to their maps.
Chris Field, chief growth officer at Holistiplan, introduced a property and casualty insurance review. He said it was the company’s first non-tax feature and is available now for all users.
The P&C review is like Holistiplan’s current tax reports in that it provides a summary of all areas of the client’s umbrella, auto and home policies, but it also highlights with green, yellow and red indicators those areas that a client needs to take action.
Field said they also can integrate with CoreLogic, which provides real estate property-related data, to include home rebuilding cost estimates and state-specific information for policies.
Much like Holistiplan, Andrew Altfest, founder and CEO of FP Alpha, introduced new features related to tax and insurance summaries.
The firm has introduced a tax snapshot, into which advisors can upload a client’s tax return. The documents are then read by FP Alpha, which produces a report for the client. It can show what tax bracket they’re in and make recommendations.
In the same vein, the new estate snapshot provides a visual summary of a client’s wealth distribution plan. The company’s estate planning lab can then create a full balance sheet and run scenarios.
Altfest also highlighted another new feature first introduced in September, the FP Alpha P&C Snapshot, which also uploads home and auto insurance documents and provides a visual summary showing clients' current coverage.