Folio Institutional Helps Enterprises Answer the “What, Who and How” When Searching For a Digital Wealth Management Partner

MCLEAN, VA, June 14, 2018 – Today, many banking, credit unions, insurance firms and other financial services enterprises are searching for an online investing technology solution. According to Folio Institutional’s president, Greg Vigrass, in their rush to be competitive, many of these firms forget to answer their “what, who and how.”

“When an enterprise quickly jumps into the search for a digital wealth management partner, it is likely to end up with a less-than-useful product,” said Vigrass. “Decision makers need to have a clear picture of what problems they’re trying to solve, who the customer is and how the enterprise can create an online investing service.”

Vigrass added, “Enterprises that take the time to understand their what, who and how can more easily weed out the one-size-fits-all robo technology that is unfortunately prevalent in our industry. Enterprises want more than simplistic financial planning tools that make no effort to understand the client, do not consider underlying investments’ tax implications or cannot accommodate customers’ values, human capital and multiple goals. Folio’s soon-to-be-launched digital wealth services platform is different – it takes all of these important variables (and more) – into consideration and gives enterprises a highly tailored and flexible digital investing program.”

Folio Institutional’s digital wealth platform will give enterprises low-cost, differentiated investment management solutions that build brand awareness and customer loyalty. Folio can work with enterprises in a variety of ways, from offering a modular, white-labeled robo advisor technology platform to supporting an API-driven robo advisor program and more. (Read our case studies.)

Folio has developed a three-step process to help enterprises understand their what, who and how:

Step 1: Discover what problems the enterprise is trying to solve for.
Every firm seeks growth, so it’s important to dig deeper:

  • Does the firm need to retain its brand’s own look and feel?
  • Do its business goals include increasing services without adding significant operational expense?
  • Is the client experience the same across the entire firm?

“Enterprises are trying to solve many challenges with an online investing platform,” said Patrick Burke, Folio Institutional vice president for enterprise sales. “Unless these problems are well-defined and prioritized, the final product will not help the firm be competitive. Folio’s modular digital wealth solutions can meet any enterprise’s challenges.”

Step 2: Define your customers’ needs.
Many enterprises need a coherent strategy for meeting existing and new customers’ online investing needs. According to Vigrass and Burke, enterprise decision-makers should understand the following:

  • Customers’ desired blend of personal and digital investing experience and the services the firm must prioritize to respond to those needs.
  • The type of securities – stock, mutual funds, ETFs and ADRs – that their customers expect to see in a diversified, tax-efficient portfolio, as well as to what extent customers want sustainable, responsible and impact (SRI) investing choices.
  • The effect that their digital investing offering will have on the firm’s other businesses.
  • The cost of delivering these new services and the benefits to revenue and profitability.

Step 3: Evaluate your technology options.
With well-defined needs and customer profiles in hand, enterprise leaders will be better equipped to find a FinTech partner that offers adaptable, flexible and modular solutions.

Burke explained that enterprises have four technology options:

  • Partner with a broker-dealer or technology provider like Folio that provides customizable front-end and back-end brokerage, custody and/or investment management service.
  • Build the online user experience and use APIs from a firm like Folio to tie into an existing broker-dealer or technology provider.
  • Build an online investing program from scratch.
  • Partner with a third party to provide the digital investment program, sending customers from the bank to the robo advisor.

(Read more about the pros and cons of these technology options.)

“Folio has nearly 20 years of experience delivering integrated, online brokerage and custody technology solutions that give enterprises everything they need, all in one place,” said Vigrass. “Our digital wealth services platform, which will be available soon, was designed to meet the needs of a variety of firms.”

About Folio Institutional
Folio Institutional® is a leading brokerage, custody and financial technology company, all in one. Investment advisors, financial institutions and retirement plans use our innovative technology and modular solutions to build and precisely manage customized portfolios for their entire client base, regardless of account size. Our clients use our state-of-the-art trading, portfolio management tools, digital investing services and alternative investment capabilities to create a better client experience, scale their business and improve profitability. We empower the financial services industry on both a full-service and technology-licensed basis, servicing billions of dollars of investor assets nationwide.


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