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Research Shows Strong Growth For Advisors Embracing Digital Mktg Post Covid – Wealth Tech Digest #30

Key takeaways

✅ Research Shows Strong Revenue Growth For Advisors Embracing Digital Marketing During Pandemic

For our first digest, we look into how advisors embracing digital marketing during the pandemic have seen strong revenue growth. This comes as no surprise as the world has had to rely on digital communications in the last year and a half. For advisors, digital means of communication have allowed them to stay connected with clients and prospects. Because of this, Advisor Group has announced new internal reporting for its MyCMO digital marketing platform. In these reports, advisors who shifted their marketing to digital platforms have gained a significant advantage. In particular, the topical, customizable, and personally-relevant digital content from MyCMO has been particularly useful. This has led to a 50% higher growth rate than those achieved by non-subscribers in 2020.

Not only that, but younger advisors who use MyCMO have seen growth rates as much as 200% compared to non-subscribers. Susan Theder, Advisor Group Chief Marketing Officer, said in a statement, that financial professionals who communicate with clients consistently and authentically outperforms those who do not. This way, advisors will have a much more profound emotional impact on their clients. For a lot of these clients, the content provided to them during the early pandemic from MyCMO was exactly what they needed.

✅ Finary Wants To Create The Wealth Management Dashboard For The Next Generation

Our next digest covers Finary, a new French fintech startup. Finary wants to change how you manage your savings, investments, mortgages, real estate assets, and even cryptocurrencies. Impressively, the startup was able to close a $2.7 million seed round led by Speedinvest after attending Y Combinator. The startup aims to fill the need of the wealth management industry for tech and digitalization. Because of this, the new generation of investors do not yet have the right tools to allocate their funds properly. To address these needs, Finary wants to tackle these problems starting with their API-based aggregator which connects to various accounts. With their tools, various open banking APIs are utilized as exhaustively as possible by Finary. Mounir Laggoune, CEO of Finary, says that the long term-vision for the company is to build a virtual wealth manager for Europe. Working towards this goal, the company has even created a premium subscription called Finary+. Only a few months after launching its platform, Finary already tracks  €2 billion in assets across thousands of users. This success is all built on their mission to provide holistic service that lets you use multiple banks and services while remaining on top of your assets.

✅ Greece’s Eurobank Selects Temenos To Reimagine Wealth Management For The Digital Age

For our last digest we look at how Eurobank in Greece looks to reimagine wealth management for the digital age. Eurobank is the third largest bank in the country and has recently selected Temenos Wealth to strengthen its position in wealth management and affluent segment services. This new partnership with Temenos Wealth aims to create a fully-digital investment portfolio management service. This service offers robo-advisor and goal-based investing apps to target the mass affluent and affluent markets. There will be two phases in Eurobank’s implementation of Temenos Wealth. The first phase is to bring to market this new robo-advisor service. And in the second phase is to deploy the Temenos Wealth platform for all investment portfolio services. These services include execution, advisory, and discretionary services for clients in Greece. Furthermore, the middle and back-office systems of the bank will also be replaced with Temenos Transact. These new services are a response to meet the growing need and preference from consumers to save and invest digitally.

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