Advicent has launched two new tools, Narrator Clients and Narrator Advisor, designed to empower advisory firms to deliver more collaborative and proactive client-adviser relationships at a time of regulatory upheaval.
According to the firm, these new tools “provide advisers a way to remain compliant and offer advice with the client’s best interest in mind.”
“Financial planning software was often regarded as nice to have, but the Department of Labor (DOL) is now driving it to be a need-to-have,” the firm suggests. “If advisers want to remain relevant in the digital world and remain compliant to new legislation, they need to re-think the way they work.”
Advicent suggests that incorporating the Narrator product line into a firm’s workflow “empowers an easier transition to the new DOL standards. The transparency offered with the online portal gives the client access to their financial plan 24/7, bolstering their confidence in the strategy and increasing their likelihood to stick to the plan presented. In addition, clients will feel more involved and connected to the planning process while the adviser will simultaneously meet the expectations of the new regulation. Advicent also understands that remaining compliant can be costly, which is why the tools offered easily scale to fit organizations of all sizes.”
Phil Cunningham, CEO of Advicent, tells advisers the tool suite can “pay for itself when the adviser capitalizes on the cross-selling opportunities and the ability to uncover held away assets.” By providing a comprehensive and in-depth financial plan, the client will feel more secure with their financial future, he suggests, adding that advisers will further be able to “present their options with confidence by utilizing our robust calculation engine that will provide accurate projections with retirement planning and asset management.”
More information is at www.advicentsolutions.com.