News
Fidelity’s revolutionary WealthCentral platform a conglomerate of best-of-breed technology
To provide a centralized, integrated, platform from which to deliver customer relationship management, financial planning, and back-office services to its independent RIA's; Fidelity has engaged in a $50 million dollar project that will bring the best-of-the-best together in a single platform.
Dubbed WealthCentral, Fidelity's new Web-based platform will take advantage of three industry-leading technologies to remove redundancy from the job. Included in the plans are Oracle's Siebel CRM On Demand, Advent Back Office Services, and EISI's NaviPlan Central financial planning software.
Writes Joel P. Bruckenstein: "Based on what I've seen, WealthCentral will likely represent a revolutionary advance in advisor technology and efficiency."
All hardware and software maintenance, data backups, security, and disaster planning will be outsourced to save Fidelity significant effort and money.
System administrators will define and control user access, thus improving workflow.
Once in the system, advisors will be able to get the information or tools they need in just a couple of clicks. A new dashboard will provide shortcuts to the applications, and alerts to notify advisors of customer service requests. Advisors will be able to choose between alternative dashboard views and determine which items appear most prominently. To quickly access a client file, advisors will simply use a search tool in the left-hand navigation that contains a comprehensive client list; with a single mouse-click, a summary of information pertaining to the client relationship is revealed. Hotlinks and drill-downs will also facilitate quick look-ups.
One of the main goals of WealthCentral is to significantly reduce data so that there are actually less keystrokes required. It will accomplish this with superior data integration. Once data has been entered into the CRM system, it won't need to be re-keyed.
"[Fidelity] has partnered with talented, experienced firms that are each among the leaders in their respective fields," Bruckenstein says. ".WealthCentral will surely disrupt the status quo, if it has not already done so."
Read the article at FinancialAdvisorMagazine.com.
