Dave Goes, President of Enterprise Solutions for Advyzon, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss how advisors and large enterprises can benefit from installing a flexible and complete technology platform.
Most of the industry built best-of-breed platforms through acquisitions. Advyzon has taken a different approach, building a platform from the ground up. Because Advyzon uses a single database and a single source code, the platform is highly scalable and configurable. Enterprises can start with a single Advyzon module and expand over time.
Some large enterprises spend over $500 million per year on their advisor platforms, which makes them hesitant to immediately replace their systems. It makes sense, then, to plug in single modules when functionality or upgrades are needed. Large enterprises are typically aggregator RIAs with over $10 billion in AUM, wirehouses, and broker-dealers.
Goes states that Advyzon’s platform has been voted best all-in-one solution for seven straight years. Over 70% of surveyed advisors state that they are saving at least 30% of their time since installing the Advyzon platform. These time savings reduce costs and increase efficiency.
Advyzon Investment Management (AIM) is more than a turnkey asset management program (TAMP). AIM handles SMAs, UMAs, householding, and direct indexing. The system is flexible, so clients can add just the AIM platform or integrate AIM with other modules. While much of the Advyzon platform is built to improve efficiencies and reduce costs, AIM can help grow revenue by providing investment services to clients.
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**Notes:**yHLsoft Inc., doing business as Advyzon (“Advyzon”) offers an integrated technology platform for financial advisors that includes customizable performance reporting, flexible billing, client relationship management (CRM), configurable client web portals, document storage and business intelligence. Advyzon Investment Management LLC (“AIM”) is a registered investment adviser registered with the United States Securities and Exchange Commission, and a wholly-owned subsidiary of Advyzon. All references to investment advisory services mentioned are provided by AIM, while some technology and administrative support services are provided by Advyzon. AIM’s advisory services are available to financial advisers for use in managing assets for their clients. AIM does not provide advisory services directly to retail investors. Professionals employed by Advyzon may refer qualified Advisory Firms to AIM. If a referred Advisory Firm engages AIM’s services, the referring professional will receive a referral fee. References to AIM’s products or services may be considered endorsements or testimonials. Unless otherwise noted, AIM has not compensated any person or entity for these endorsements or testimonials. When endorsements are provided by individuals who are Advyzon employees, a conflict of interest exists due to Advyzon’s ownership of AIM.