Page 28 - Investment Advisor November 2022

Executive Leadership

alternative investment field. The firm says it boosted assets by The firm’s Solution Marketplace has been used by over
$45 billion last year via organic growth and has some 10,000 250 organizations “in their efforts to listen and adapt to the
network users who are financial advisors. needs of their employees and those they serve, while aligning
digital transformation initiatives with overall business growth
IncomeConductor and efficiency goals,” the firm said. It currently has 125-plus
(WealthConductor LLC) solution templates, which encompass back-office operations,
IncomeConductor says it has “continued to innovate in human resources, information technology and other industry-
response to the changing needs of the retirement market.” In specific needs.
2022, it launched Health+ in partnership with HealthView
Services to address rising healthcare expenses and the risk LPL Financial
that retirees may run out of savings before they die. To help its advisors work
Health+ gives advisors “a comprehensive retirement data effectively as business owners, LPL’s Business Strategy
set, which now includes customized longevity projections Services unit gives them access to “a skilled business strate-
based on a client’s health profile, projected healthcare expens- gist to deliver personalized, executive insights,” so advisors
es including both Medicare and out of pocket, and Social run their businesses more efficiently and profitably, the firm
Security claiming and optimization strategies to ensure that says. The strategists serve as business coaches and CFOs,
all facets of retirement are … integrated into a financial plan.” “becoming an extension of the advisor’s team and contribut-
As a result, advisors can quickly see the impact this informa- ing to real results.”
tion has on their clients’ plans, build more reliable custom- The firm also works to “help advisors identify and imple-
ized income plans and improve clients’ “understanding of ment cost-savings and revenue-generating opportunities;
and confidence in achieving a financially secure and happy understand key drivers to maximize their business valuation;
retirement,” it adds. and ensure meaningful progress in the pursuit of achieving
business objectives,” it explained. Staff involved have expe-
Invent.us rience as CFAs, CFPs, CPAs, Certified Valuation Analysts,
The firm focuses on innovation in Certified Treasury Professionals, corporate finance leaders
the wealthtech space through its and small-business owners.
work as software as a service and as a technology consulting
firm for enterprise organizations and large RIAs. It aims to Merit Financial Advisors
help firms keep up with the rapid pace of technological change The firm says it closed five trans-
and does so by facilitating upgrades to advisor technology actions that resulted in $1.3 billion
stacks — and open architecture platforms — that feature a uni- in new assets and grew the number of staff by 45% last year.
fied display of solutions made by their own development teams This growth strategy is tied to a partnership with Wealth
and different vendors. Partners Capital Group, a “hub and spokes” business model, a
Its newest initiative is iDEaaS, or Integrated Digital B2B marketing plan that includes speaking engagements and
Ecosystem as a Service, which allows for “the integration events, social media, thought leadership and content market-
of B2B practices, enterprise applications and data within ing for financial advisors.
the ecosystem,” so organizations can control both new and To date, Merit has completed 14 transactions. Last year, it
old technologies while building automated processes around added $10.3 million in annualized revenue, a 30% increase
them. Its iDEaaS offering facilitates advisors’ and firms’ digital from the prior year, and increased its profit margin by 35%. It
transformation of legacy proprietary applications, antiquated also expanded into market niches such as those that include
integrations and complex business process through a cloud- widows, divorcees and corporate executives in specific busi-
native platform and user interface/user experience, micro ness segments. To increase the number of female employees,
frontend framework, its says. the firm built a leadership training program, revised its com-
pensation plans and added flexible working hours; today, 57%
Laserfiche of Merit employees are women.
Laserfiche provides content
management and business process automation for firms MyVest
in wealth management, banking and insurance — includ- The firm has worked to address
ing workflows, electronic forms, document management a common challenge with discretionary portfolio management
and analytics. Today, the firm says its “cloud-first devel- programs (also known as “rep as PM”) for advisors who want
opment approach incorporates innovations in machine more flexibility and autonomy when customizing portfolios
learning and AI to enable organizations … to transform and for firms concerned with oversight and efficiency. Such
into digital businesses.” efforts entail risks like security concentrations, portfolio drift,

26 INVESTMENT ADVISOR NOVEMBER 2022 | ThinkAdvisor.com

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