Page 16 - Investment Advisor - September 2023

Cambridge Investment Plan, a digital money coach that helps Chase customers make
research, Inc. smart money decisions and plan, save and invest in one place. The
In 2022, as part of its Digital Transformation initiatives, Cambridge free, omnichannel experience, available in the Chase app and on
introduced new and enhanced technology and service-focused Chase.com, is deeply integrated with the advisor planning inter-
resources to its offerings. Enhancements to CLIC, the firm’s com- face with real-time back and forth data flow.
prehensive online business environment, include a new dashboard Wealth Plan’s features include a 360-degree view of finances,
to provide key client and business insights in a more advanced and including external accounts; proprietary planning capabilities
user-friendly format; a tool that allows advisors to create accounts, previously exclusive to advisors; a goal simulator that helps
provides a faster process and eliminates manual work and dupli- clients explore “what if” scenarios and their possible effects on
cation; and a supervision tool for additional transparency to view users’ financial future; personalized step-by-step guidance, educa-
where an account stands in the supervision process. tional articles and videos; and a two-way planning experience that
The firm also introduced Cambridge Service Experience Teams, enhances the client-advisor relationship.
comprising groups of home office associates each responsible for
supporting one of the firm’s 3,800 financial professionals. And Merrill Wealth Management
it added Private Client Solutions to its broader client solutions In October 2022, Merrill launched
platform. This features advanced tech tools, planning support and Merrill Advisor Match, a financial advi-
practice management resources to support financial professionals sor-client matching tool based on personal preferences and data col-
serving high-net-worth clients. lected from a simple online questionnaire completed by individuals.
Merrill’s goal is to democratize access to financial advice by using an
Cetera Financial Group easily accessible online platform, demystify the experience of find-
Early in 2023, Cetera Financial Group ing an advisor and modernize the approach to connecting with one.
launched the Manager Program with- The tool considers users’ financial priorities, as well as engage-
in the firm’s My Advice Architect. This pairs institutional asset ment preferences, communications style and personality traits.
managers with a high degree of customization, enabling them to These data feed an algorithm to pair prospects with advisors based
invest in holdings that can be tailored to affluent clients’ specific on multiple dimensions. Prospects instantly receive a customized
considerations, such as tax mitigation or personal values. list of advisors in their community, along with an opportunity
MAA empowers Cetera’s financial advisors to build compre- to explore robust advisor profiles. Interested parties can decide
hensive portfolios by consolidating assets and managing risk whether to connect with an advisor. The tool captures scheduling
holistically, improving diversification across money managers and preferences to make it easy to take the next step.
securities, and simplifying fees. Clients gain access to institutional
asset management with a personal touch, direct ownership of Prospera Financial services
underlying holdings through direct indexing and a simple, all- In the past 12 months, Prospera introduced the
inclusive fee with full transparency. Virtual Service Associate program, which allows
all the firm’s advisors to work with a dedicated
Commonwealth Financial network Prospera employee who acts as an extension of an advisor’s team.
In June 2022, Commonwealth rolled out a suite of VSAs are trained in Prospera software, policies and procedures, and
flexible financing options to give affiliated advisors serve as a liaison between advisors, their clients and Prospera. VSAs
access to an additional source of capital to help evolve are available on either a temporary and monthly subscription basis.
their business without the need to work with an outside lender. The service offers independent contractors, such as finan-
The Entrepreneurial Capital program offers advisors three types cial advisors at an IBD, flexibility while providing the support
of loans as well as equity financing, and involves a simple under- of a larger firm with a full HR team. In the independent space,
writing process, competitive rates and swift approval and payment Prospera offers advisors flexibility to run their business, whether
with complete flexibility in how they use those funds. in hiring their own staff or leveraging the VSA program. The pro-
Program participants work directly with the firm’s consultants gram also offers advisors on-demand assistance.
to identify the scope of their business needs and customize the
debt or equity funding solutions to fit their specific objectives. The raymond James
program can also help advisors considering succession navigate In November 2022, Raymond James
through aspects, such as structure, valuation, financing and terms, launched the Opportunities app, which was designed to “think like
to ensure a smooth transition to the next generation. an advisor.” The app analyzes firm data and an advisor’s book of busi-
ness each night for potential touchpoints and growth opportunities.
J.P. Morgan Wealth Every day, it generates personalized client service ideas that antici-
Management pate client needs, offer significant value and strengthen relationships.
In late 2022, J.P. Morgan Wealth Management introduced Wealth It provides means to act swiftly across the firm’s integrated systems.

14 Investment AdvIsor September 2023 | thinkAdvisor.com