88Alpha

Despite the prevalence of Robo Advisor tools, the wealth management business is growing, with nearly 1 million financial advisors in America today managing trillions of dollars of investor capital. However, wealth management is now more than ever a relationship business, and engagement gaps are costing the industry nearly $2 trillion per year.

A typical Registered Investment Advisor supports 100-200 investor clients with a small internal team, and loses $5-50 million in annual assets under management due to bad client communications. A single asset manager can lose more than $500 million annually due to these engagement gaps between advisors and their clients.

With a $30 trillion generational wealth transfer underway (with deceased Baby Boomers leaving their assets to their families), the need to scale the ability of financial advisors to better strategize and communicate with their client base at an individual level has never been more profound. Better communication is the key to limiting client turnover and promoting practice growth.