Demo Video: Managing Wholesaler and Retailer Lines of Business 2019-06-07T18:27:55+00:00

Demo Video: Managing Wholesaler and Retailer Lines of Business


AKA’s DynamicsAdvantage for Asset Management Video Series.

Let’s start on the sales side. Managing your wholesalers and and sales people is one of the most important facets of your business and let’s face it, one of the most challenging. Daily, wholesalers must sift through hundreds or even thousands of lines of sales data and trade data broken out by advisor, by branch office, by home office. But how do you really derive true meaning from all this data?

With so many counts and transactional data coupled with the fact that there’s no direct relationship with the end client, it’s difficult if not impossible to identify trends and how all that data may impact the overall relationship with advisors. In short, there’s limited visibility in the changes in client positions. The goal for the wholesaler is to see at a macro level trends of their products but at the advisor level. With any given wholesaler dealing with thousands of advisors, it’s also difficult to determine who to call, when to call and what action to take. Because they’re unable to see individual financial accounts up close, they depend instead on data summaries.

For example, by advisor, by branch, by broker, maybe by product, by strategy, but this is really where the time consuming less than reliable steps come in. They must look at both of these data sets which are typically very large and attempt to aggregate the information and make decisions as best they can. Despite their best efforts, we’re all human, people make mistakes and we can’t catch every possible variation, exception or trend and we’re also subject to observer bias, especially in such large data sets.

Let’s see how artificial intelligence and machine learning can be easily applied to address this challenge. Here we’re at my wholesaler dashboard and again, artificial intelligence is sifting through that data and transaction volumes and the people that we’re dealing with and the activities that we’re having with them, and it’s bubbling up recommendations to me. We also see here in the timeline, these are all the lists of activities that are happening that either I or people on my team are having with the advisors, the broker/dealers out in the field. So I can see at a glance where the most recent activities are. And then here’s another example of artificial intelligence bubbling up soon and it’s letting me know that an opportunity should be closing soon as well as an email that puts some opportunities at risk.

Let’s do a drill down. We’re going to drill into this recommendation and see what is the system recommending that I do, and we see that it’s asking or suggesting that I contact Thomas Anderson because there’s been an AUM decrease by five million dollars and there’s been a decrease in accounts. So, let’s go take a look at Thomas Anderson. Now keep in mind that this is the dashboard that’s summarizing all the information at this particular broker/dealer, so I can see the trends and information that are now actionable with just a single click. Now I don’t have to summarize and aggregate this data. Somebody else doesn’t have to do it for me. This is now all automated because it’s pulling it in through business intelligence applications.

We take a loo at the summary details., We see our contact information. Again, a timeline now specific to the information that’s rolling up or aggregating particular to this advisor. We can take a look at the sales information and so we see any past meeting notes. We see opportunities. We see interests and product interests. We can also see their financial accounts and drill down into those. We see a large number of accounts as well as related accounts for subscriptions. Here’s those recommendations and that’s the recommendation we saw earlier.

But let’s go and take now another look at the organization level. So now we’re going from the advisor level to the organization level, and again, we see that aggregated dashboard. But now let’s go take a look at some of the contacts that we have with this organization. And because I see this trending information, I’m going to reach out to this Matthew Thomas and I’m going to schedule a meeting. And so with one click, I can actually dial the branch manager and set up that meeting or discuss the details of what I see in that dashboard.

Please be sure and check out the out the other videos in this series.