By Johnny Beloe on Thursday 23 June 2022
Wealth Dynamix today announces that they have launched first CLM benefit calculator for Wealth Managers.
Using a handful of typical use cases throughout the client lifecycle, the benefit calculator gamifies business case generation by allowing firms to generate the likely benefits of a digital-first CLM platform – all reflected in terms of revenue in, or costs out of the firm.
The use cases include increases to prospect win rate and share of wallet via responsive nurture processes and opportunity management. Secondly, the cost savings by reducing the man hours during the onboarding process – which Wealth Dynamix say they can do within a single day – as well as the increase in fees earned by getting AUM faster, and lastly, the operational efficiencies realised by improving client servicing.
Why did Wealth Dynamix build this?
Johnny Beloe, director of pre-sales at Wealth Dynamix and creator of the calculator said: “The Wealth Management industry is undergoing a period of intense technological transformation fuelled by changing client needs and expectations including digital first experiences, lower fees and the need for more information at their fingertips.
“In order to progress change initiatives, firms can sometimes run into challenges articulating the business value of the proposal; it may be instinctively obvious that transformation is the ‘right’ thing to do, but the financially centric metrics stakeholders are often looking for can be harder to arrive at.
“We are pleased to provide a simplified version of a comprehensive business value analysis tool used within Wealth Dynamix to provide some insight into the true value a CLM solution can deliver, expressed in raw financial terms.”
Founded in 2012 by wealth management technology experts Gary Linieres and Brent Randall, Wealth Dynamix is the first wealth management technology firm to revolutionise the Client Lifecycle Management (CLM) processes with innovative applications of data modelling. Wealth Dynamix digitises the entire client lifecycle for private banks and wealth managers, from client acquisition and onboarding through to ongoing relationship management and client servicing. Wealth Dynamix identifies opportunities for boosting operating efficiencies and growing revenue, whilst enabling a significantly higher degree of client insight and due diligence.
Wealth Dynamix operates globally with offices in the UK, France, Switzerland, Singapore, United States of America, Lithuania and Vietnam.
As the ONLY end-to-end CLM provider for Wealth Managers, Wealth Dynamix takes CLM to unchartered territories. The Wealth Dynamix solution adds intelligence to client data. This empowers advisors to make the right recommendations at the right time, identify opportunities to grow revenue and boost operating efficiencies, all while ensuring regulatory adherence.
Don't miss out on today’s live webinar which explores the unique opportunities and challenges a digital CLM transformation brings to bear– and how to build a business case that gathers traction within your firm. We can't wait to see you there! Make sure to register now if you haven't already.