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The Quest For The Ultimate Client-Advisor Experience

Mar. 04, 2018 1:00 PM ET


  • The thinking and decisions behind how one financial advisor became a FinTech entrepreneur to build more engaging and effective client conversations.
  • Most financial software is built for advisors as an expert tool to solve a specific technical challenge, not to maximize client engagement.
  • A FinTech approach that found a way to apply a different kind of AI - Advisor Intelligence.

[The Institute for Innovation Development believes that the Holy Grail for innovation resides in creating a client experience that both engages and delights. Accomplishing that feat does not come easily. It has to be carefully crafted. To explore this further, we sat down with Adam Holt, CEO & Founder of FinTech company Asset-Map – a cloud-based software & service platform designed to help financial professionals visually facilitate more meaningful financial conversations with their clients and deliver advice faster and simpler in an engaging experience.]

Hortz: How did you go about proactively designing this client-advisor experience? What kind of steps did you take to build a product and service around this deeper type of user engagement?

Holt: I think like most innovations, sometimes it's born out of necessity, and sometimes it's born out of an accident. My background is in art and architecture, and although I got into financial services because I had done an undergraduate degree in economics, I always thought visually and tried to communicate problems and the way relationships work visually. I would draw on a screen, on a blackboard, a piece of paper, or anything I could get my hands on, to help people understand what was going on in their life and how certain financial concepts worked. I would draw the relationships of the facts that clients were sharing with me in the early stages of providing advice, instead of writing them down on a tablet, or a yellow pad, or a fact-finding form.

When I would draw them, I would draw them in a way that was readable by my staff and my colleagues so that we could all get acclimated very quickly on a case. I used it as an education and recall tool and the visual catalogue was the way that our staff started to

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Institute for Innovation Development (IID) is an educational and business development catalyst for growth-oriented financial advisors and progressive financial services executives who are determined to grow their firms in a business environment of accelerating business and cultural change. Run as a social enterprise, the Institute will be dedicated to help make business innovation best practices a vital cornerstone for members’ ongoing growth, competitive differentiation, and client/community engagement strategies. Three current IID initiatives are: 1. Integrating business innovation mindsets, processes and tools into financial services practices through the formation of Advisor Practice Management 3.0 professional development. 2. Applying business innovation as a powerful and differentiating advisor marketing/branding approach and community engagement strategy. 3. Creating a FinTech radar program to increase communication and access between the financial advisor and early stage FinTech communities. Bill Hortz, Founder and Dean, of the Institute and Institute Founding Innovator members (comprised of top cross-industry innovation experts, innovative fintech companies, and progressive minded financial advisors and industry thought leaders) will be contributing articles and hopefully sparking ideas and discourse on much needed, next-generation advisor business models and industry development. We will seek to uncover proven business innovation best practices; learn from innovative business creators; explore innovation mindsets; hear about new approaches, services and technologies; and ultimately discover how to apply these insights to a financial advisor's business. For more details about the Institute, investigate here: https://innovationdevelopment.org/annual-membership

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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