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TechValidate Research on eMoney Advisor

These pages present data that TechValidate has sourced via direct research with verified customers and users of eMoney Advisor. TechValidate stands behind the authenticity of all published data. Learn more »



6,068 Customers Surveyed

54,392 Data Points Collected

121 Published TechFacts

78 Published Charts

37 Published Case Studies



Selected Research Highlights


eMoney Advisor Case Study

Case Study: eMoney Makes Time with Clients More Productive

Introduction

This case study of JPStudinger Group is based on a July 2017 survey of eMoney Advisor customers by TechValidate, a 3rd-party research service.

“Prior to eMoney, clients would bring in boxes of information for me to look through during a meeting. We’d spend the first hour getting back to speed on what’s going on. Now I already have the data, fed live every single day. Clients just show up (or call in) and we are instantly getting into the important stuff. Our time together is totally productive, and clients value that tremendously.”

Challenges

The business challenges that led the profiled company to evaluate and ultimately select eMoney Advisor:

  • Solved for the following challenges with eMoney:
    • Access to assets
    • Having all of the data in one place for easy access
    • Bridging the technology gap between clients and advisors
    • Collaboration / sharing of data among team members and trusted advisors
    • Differentiation among competitors
    • Easily updated financial plans
    • Less legwork when planning for meetings / presentations

Use Case

The key features and functionalities of eMoney Advisor that the surveyed company uses:

  • Finds the following to be the most useful features from eMoney:
    • Advanced Planning
    • Advisor Branded Media
    • Aggregation
    • Alerts
    • Cash Flow Planning
    • Client Website
    • Decision Center
    • Estate Planning
    • The reports
    • Vault
  • Has 100% of their clients use aggregation on their Client Site.

Results

The surveyed company achieved the following results with eMoney Advisor:

  • Has grown their business in the following ways with eMoney:
    • Attracted new clients / retained existing clients
    • Increased the client’s “share of wallet”
    • Increased new assets
    • Increased recurring revenue
    • Increased the number of referrals
    • Increased the number of financial plans
    • Increased the value of their business
    • Scaled their business
  • Has improved business efficiency with eMoney in the following ways:
    • Decreased travel time
    • Efficiently aggregated direct feeds
    • Improved team collaboration
    • Streamlined data entry
    • Streamlined the financial planning process
    • I’m always up to date on client status, before the meeting is held and no matter how far away they live.
  • Has increased client satisfaction and retention through the following ways with eMoney:
    • Complete transparency
    • New opportunities to engage spouse, children, and other trusted advisors
    • Developed and maintained a living/breathing comprehensive financial plan
    • 24/7 mobile access
    • The ability to organize their life by creating a real-time view of their financial picture
    • Been able to plan interactively
    • A proactive communications strategy via constant monitoring and alerts
    • A commitment to stay in front of tech trends
  • Is able to increase prospecting and new business generation in the following ways with eMoney:
    • Use digital tools that attract younger generations of clients and increase referrals
    • Increase the speed of onboarding new clients
    • Provide more interactive presentations
  • Saw a return on investment in less than 6 months with eMoney.
  • Client Website has impacted their relationship with clients in the following ways:
    • Allowed them to take a proactive approach with clients
    • Differentiated themselves from competitors
    • Given them the ability to provide a comprehensive view of financial life
    • Helped build relationships with the next generation
    • Positioned them as their client’s primary advisor
    • Provided 24/7 access to their data and them self
    • Provided a high level of transparency
    • Provided interactivity and collaboration with clients
  • Has improved the following areas by the corresponding level since using eMoney Advisor:
    • The client retention rate: 25% to 50%
    • The clients on target to goals: > 75%
    • Efficiency and time savings: > 75%
    • Held away assets captured: 25% to 50%
    • Revenue and profit: 50% to 75%
  • Finds eMoney to have the most positive impact on Cash Flow Planning.

eMoney Advisor Customer Research

Of those eMoney helped attract new clients, 82% indicated it solved the challenge of all data in one place

What types of challenges did eMoney software solve for your business?

All data in one place for easy access
82%
Easily updated financial plans
69%
Access to assets held away Advisor
60%
Less legwork when planning for meetings/presentations
45%
Bridging technology gap between clients and advisors
42%
Differentiation among competitors
38%
Collaboration/sharing of data among team members and trusted advisors
26%
Bridging gap between me and the next generation of do-it-yourselfers
19%
Analytics to identify business opportunities
18%
Assurance to minimize risk
7%
Other
0%

eMoney Advisor Customer Research

90% of Advisors agree that eMoney is trustworthy with client data

When asked if eMoney is trustworthy with client data, customers said:

Agree very much: 39%
Agree: 51%
Neither agree nor disagree: 8%
Disagree: 1%

eMoney Advisor Customer Testimonial

Clients love when they are able to see future cash flow projections and multiple what if scenarios.

Jerri Hammons, Financial Planner, Michael Rodman

Case Study: Small Advisory Firm Sees Retention Rates Rise by More Than 50% With eMoney

Introduction

This case study of a small business financial services company is based on a June 2014 survey of eMoney Advisor products and services customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

“Our clients love having a view of their accounts and are very likely to refer us.”

Challenges

  • Solved the following challenges with eMoney software:
    • Differentiated company from competitors
    • Provided ability to easily update financial plans
    • Consolidated all data in one place for easy access

Use Case

  • Increased prospecting and new business generation with eMoney in the following ways:
    • Marketing tools and materials
    • Interactive presentations
  • Reported the following eMoney features are most useful to their business:
    • Vault
    • Client Website
    • Goal planning
    • Marketing

Results

  • eMoney has helped grow business in the following ways:
    • Attracted new clients/retain existing clients
  • Reduced business costs with eMoney in the following ways:
    • Streamlined financial planning process
    • Streamlined data entry
  • Increased client satisfaction and retention with eMoney in the following ways:
    • Organizing customer life by creating a real-time view of their financial picture
    • Developing and maintaining a living/breathing comprehensive financial plan
    • Providing complete transparency
    • Creating opportunities to engage spouse, children and other trusted advisors
    • Showing a commitment to staying in front of tech trends
  • Saw a return on their investment in eMoney in 6–12 months.
  • Found that the delivery of the Client Website impacted their relationship with clients in the following ways:
    • Differentiating from competitors
    • Position as client’s primary advisor
    • Providing 24-7 access to customer data and the company
    • Providing a high level of transparency
  • Increased the following with eMoney Advisor:
    • Revenue and profit: Up to 10%
    • Annual cost savings: Up to 10%
    • Client retention rate: > 50%
    • Additional products per client: Up to 10%
    • Held away assets captured: Up to 10%

47% of surveyed Financial Advisors grew their book of business by 20% or more since becoming an eMoney user.



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About eMoney Advisor

eMoney provides advisors in the high net worth market the financial planning web technology to attract top tier prospects, provide comprehensive financial planning services for increased fee revenue, and deliver exceptional service.

eMoney Advisor Website   eMoney Advisor Website