In today’s technologically driven society, almost everything is automated – even the financial advisors are now offering digital advice. Financial advice or investment management services are now offered online based on mathematical rules or algorithms. These algorithms automatically allocate, manage and optimize financial assets and hence, does not need a human advisor. In fact, a new type of digital advisor software has emerged to help traditional financial advisors and registered investment advisors smoothly transition to offering digital advice. It is a white label digital advisor software for robo-advisors developed by ETNA – a privately owned US-based company known for creating award-winning financial software products since 2002. What is a robo-advisor?
Robo-advisor is a type of digital financial advisor who provides automated investment advice at a low cost employing mathematical rules and algorithms. It is managed through a white label digital advisor software with medium to low human intervention.
Why ETNA Digital Advisor Platform?
The ETNA Digital Advisor Platform is the most recommended software solution for robo-advisory firms, fund managers, RIAs and any other alternative investment units. Below are the top three (3) reasons enough to convince any financial advisors to use this software:
1. Customizable – It is 100% rebrandable platform if you want to use your own brand. You can add your logo and choose your preferred custodian then you are good to go in just days. With the help of ETNA’s professional development team, you can create your own color themes and add new languages.
2. Leverage ETNA’s FinTech Expertise – ETNA’s FinTech expertise and knowledge acquired for so many years are incorporated in their digital advisor platform. It allows financial advisors to focus on client acquisition and formulating effective digital financial advice and let ETNA run the firm through its all-inclusive software.
3. Flexible Pricing – ETNA offers a very flexible pricing model depending on your business goals. They provide budget plans ideal for startup clients offered through all-inclusive pay-per-use pricing to be paid on a monthly basis.
ETNA Digital Advisor Features
The ETNA Digital Advisor Platform is not only offering advantages to robo-advisors, RIAs and investment firms but also to its investors for better and comfortable digital advice experience.
Interactive Investor Dashboards
The interactive dashboard enables investors to view their financial portfolio in the form of interactive graphs, charts and reports. This feature will give the investors full picture and ability to compare current portfolio status and the previous performance of an online financial advisor. This interactive feature allows clients and robo-advisors to have better transparency and communication in achieving common goals. In the dashboard, clients or investors can also update their personal information, fund their accounts, can change investment models and even create new investment goals.
Financial Advisor’s Portal
The digital registered investment advisors or robo-advisors can easily check assets under management (AUM) in real-time, check portfolio performance and review client’s activity. With this type of monitoring feature, the advisor can effortlessly track their client’s record and provide valuable digital financial advice. The financial advisor can also create customizable investment models, manage customer risk profiling questionnaires, settings, digital clients onboarding and funding process. This portal also allows the investment firm to react faster to market changes by setting up automatic reports. All of these activities can be done whether you are using a desktop, mobile or a laptop device.
Robo-Advisor’s Back Office
With ETNA’s newly improved roboadvisor cloud back office, registered investment firms and other online financial advisors can enjoy the following features:
· Automatic Portfolio Rebalancing
- Trade Allocation
- Fractional Shares
- Customizable Portfolio Rebalancing and Trade Allocation Rules
- Built-in compliance reports
- Seamless trade execution and order management
- Broker and custodian neutral platform
Access the Platform Anywhere with Any Device
The HTML5 technology and responsive design of ETNA enables its software to run in any web browser either using desktop, laptop or mobile. This unique web application eases up the maintenance of the platform and speeds up the functionality which creates smooth and consistent user experience across all devices.
It is true that there is a lot to consider before deciding whether or not use an online platform for digital financial advice. If you are curious and want to find out more about ETNA Digital Advisor Platform software, you can try it out and create a demo account or you can send them a message.
Other Key Features and Benefits of Becoming a Digital Advisor
. More Lead Generations – the first thing to notice when a traditional financial advisor transform to a digital financial advisor is the lead generation capabilities. The digital financial advisor will also transition away from a single source of leads to a multiple source of leads. With automated financial advice, the advisor can focus more on customer acquisition and lead generation management resulting in a higher rate of revenue.
. Improved Cost Effectiveness – If you are managing a traditional financial advisory firm, transitioning to robo-advisory firm will save you a lot of money. Robo-advisory firms do not require many agents and infrastructure in servicing the customer. Everything can be run and managed through a web application employing mathematical rules and algorithms and hence, does not need a face to face or direct contact.
. High Demand – Many investors are aware that robo-advisors cost less than their physical counterparts. This makes digital financial advisors the best options especially for millennials who may have a limited budget to spend on financial planning but could still benefit from digital financial advice. Below are more advantages of transforming your financial advisory business to robo-advisory business.
. Financial investors with busy lifestyles – these people will surely enjoy the benefit and convenience of a digital financial advisor bring. They can easily work with robo-advisors even outside of their normal business hours.
. Clients who value efficiency that small talks – Financial investors who do not like small talks and just want to make money will likely engage in this type of financial advisory.
. Investors with a limited budget to invest up front – With automated financial advice, you can eliminate the need to have thousands of dollars on hand to start investing. You can allow the client to start investing with just $100 which in return, will attract more investors.