Envestnet Institute On Campus Adds Franklin Templeton as Sponsor: Tech Roundup

The new partnership "simplifies the review process for RIA in a Box's archiving users by allowing firms to store, review and filter communications from their website, email and social media within the same platform where they conduct their overall compliance program," RIA in a Box explained.

With the addition of LinkedIn, its MRC solution now includes firm and individual communications from four major social media platforms, also including Facebook, Instagram and Twitter, RIA in a Box added.

New Offering Coaches Advisors on Adding 'New Majority' Clients

Fintech firm Willow launched a new product: Willow Insights for Advisors.

Through practice management seminars and coaching that count toward continuing education requirements, Willow Insights for Advisors provides advisors with the skills, content and training they need to attract, retain and grow relationships with clients the firm classifies as the "New Majority."

Those clients are increasingly multicultural and diverse and include women, underrepresented groups, the next generation, LGBTQ+ and individuals experiencing life transitions such as divorce, widowhood and career transitions, Willow said.

The New Majority represents the "greatest growth opportunity in wealth management today," according to Willow. Citing a recent study by McKinsey, Willow said more than $30 trillion is being transferred to women over the next 3-5 years.

That's especially important because 70% of women change financial advisors after a major life event such as a spouse's death or divorce, Willow noted.

The McKinsey study also said that just by retaining baby-boomer women as clients, advisory firms could see one-third higher revenue potential, and by attracting and growing relationships with younger female clients, they can realize up to four times faster revenue growth, according to Willow.

BlackRock is among the firms that have already partnered with Willow to better serve New Majority clients, Willow added.

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