How Aggregation Can Help You Win New Clients

When you are beginning to have conversations with new prospects, it can sometimes be difficult to highlight how you are different or more qualified than another advisor. You both offer financial plans, wealth management, and whole financial life guidance. So what separates you from the pack? The answer: Account aggregation for prospects.

Adding account aggregation for prospects can be one way for you to set yourself apart from other firms. Account aggregation gives them a single place to log in and view investments rather than worrying about maintaining credentials to multiple websites.

Adding account aggregation for prospects gives you a more complete picture of their finances. This leads to you creating a better proposal or better financial plan, before you ever begin working together. The advantage is that you can show more knowledge and gain more trust with a prospect from the beginning of your relationship.

In this post we’ll look at the main ways aggregation can help you win new clients.

Your Clients Want Account Aggregation

The simplest and most important answer to how account aggregation can help you win clients is that prospective clients want you to have account aggregation.

No one wants to manage multiple website logins. Remembering those passwords, storing them in a safe place, and then logging in to each to get total assets is a cumbersome experience. When an investor selects an advisor they want a full-service experience. Without account aggregation for prospects, that experience is limited.

Additionally, investors are already used to receiving account aggregation from other available services on the market. If an investor uses a service like Mint or have invested with a robo-advisor such as Betterment, those services include aggregation.The experience of logging into one website to view all their financial information is an expected service for next-gen clients.

Improve Your Client Service with More Robust Advice

If you focus on financial planning, you want to know as much about your clients’ finances as possible. If there are gaps in your knowledge, it becomes difficult to provide the best advice.

Your clients want to be understood and they want you to provide them a clear financial plan. You can provide a more robust client service model when you know where all a client’s assets are located. Afterwards, suggest more efficient use of any that you don’t manage as well.

Going beyond the fiduciary advice you can bring, account aggregation for prospects can also help your company find more assets you should be managing. Through the Wealth Access Intelligent Aggregation platform, the average advisor grew revenues by $2,000 per client when they could access additional held-away assets and bring them onto a managed platform.

Your ability to provide complete advice and more comprehensive solutions extends your value to prospective clients.

Account Aggregation is a Better Technology Solution

The modern investor won’t always pick up the phone to call you. You need to give them extensive technology solutions to remain in contact even when you aren’t actively speaking. Add the ability to chat or text with clients. You can’t make yourself available twenty-four hours a day, seven days a week.

You must find a technology solution that includes account aggregation and can help you give clients peace of mind. Even when it’s 10 PM on a Saturday night.

The Wealth Access mobile app puts you front and center for clients. It is branded to your firm and allows clients to access their finances any time, through a portal you manage. Using account aggregation means you’ll give them a single login in a modern app. An experience they’re already comfortable using and familiar with. Nearly every adult owns a smartphone and expects the companies they work with to be accessible in the palm of their hand.

This type of tech, with account aggregation for prospects included, helps you bring a differentiator to client meetings. Therefore, showcasing your firm as a leading-edge innovator.

When you implement account aggregation, you can provide more value to clients. Ultimately improving your team’s client service and ability to provide financial advice.

Schedule a demo with Wealth Access today to see how wealth aggregation can improve your prospecting process.