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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


Case Study: Real-Time Interactive Planning, eMoney is the “Cadillac” of Planning Software

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.

“eMoney is the Cadillac of financial planning software. When I meet with new or existing clients, they know that working with me brings them the highest level of expertise and tools available today. Clients are consistently impressed with the smooth interface and real-time, interactive planning.”

Challenges

  • Solved the following challenges with eMoney software:
    • Differentiated company from competitors
    • Decreased legwork when planning for meetings/presentations
    • Provided ability to easily update financial plans
    • Consolidated all data in one place for easy access
    • Achieved collaboration/sharing of data among team members and trusted advisors

Use Case

  • Increased prospecting and new business generation with eMoney in the following ways:
    • Differentiated tools from peers/competitors
    • Marketing tools and materials
    • Ability to increase speed of on-boarding new clients
    • Interactive presentations
    • Ability to increase referrals
  • Reported the following eMoney features are most useful to their business:
    • Aggregation
    • Vault
    • Decision Center
    • Reports
    • Advanced planning

Results

  • eMoney has helped grow business in the following ways:
    • Increased the number of financial plans
    • Attracted new clients/retain existing clients
    • Increased referrals
  • Reduced business costs with eMoney in the following ways:
    • Streamlined financial planning process
    • Streamlined data entry
    • Improved team collaboration [data is more easily shared]
  • 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 mobile access [24/7]
    • 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 months.
  • Found that the delivery of the Client Website impacted their relationship with clients in the following ways:
    • Differentiating from competitors
    • Providing interactivity and collaboration amongst clients
    • Position as client’s primary advisor
    • Enabling access to a comprehensive view of financial life
    • Providing 24-7 access to customer data and the company
    • Helping build relationships with the next generation
    • Allowing proactive approach with clients
    • Providing a high level of transparency
  • Increased the following with eMoney Advisor:
    • Revenue and profit: 20-40%
    • Annual cost savings: up to 10%
    • Client retention rate: 20-40%
    • Additional products per client: up to 10%
    • Held away assets captured: up to 10%

eMoney Advisor Customer Research

63% of users say eMoney helped increase client satisfaction by developing a living, breathing financial plan

In what ways has eMoney helped increase client satisfaction and retention?

Developing and maintaining a living/breathing comprehensive financial plan
63%
Organizing their life by creating a real-time view of their financial picture
62%
Mobile access (24/7)
45%
Planning interactively
45%
Complete transparency
41%
Ability to track goals
33%
Asset allocation strategy based on managed and held-away assets
33%
Showing a commitment to staying in front of tech trends
30%
Creating opportunities to engage spouse, children, and other trusted advisors
27%
Proactive communications strategy via constant monitoring and alerts
12%
Other
4%

Case Study: Consolidated Access to Client Data Increased Revenue, Profits for RIA Advisor

Introduction

This case study of a small business financial services company is based on a May 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.

“I had a planning client who held their assets with a different advisor. After two years, they moved half of their assets to me. Hopefully, they’ll move the rest soon!”

Challenges

  • Solved the following challenges with eMoney software:
    • Differentiated company from competitors
    • Provide access to assets held away
    • Bridged gap between organization and next generation of do-it-yourselfers’
    • Decreased legwork when planning for meetings/presentations
    • Provided ability to easily update financial plans
    • Consolidated all data in one place for easy access
    • Bridged technology gap between clients and advisors

Use Case

  • Increased prospecting and new business generation with eMoney in the following ways:
    • Differentiated tools from peers/competitors
    • Marketing tools and materials
    • Ability to increase speed of on-boarding new clients
  • Reported the following eMoney features are most useful to their business:
    • Aggregation
    • Reports
    • Client Website
    • Goal planning

Results

  • eMoney has helped grow business in the following ways:
    • Increased net new assets
    • Increased recurring revenue
    • Increased the number of financial plans
    • Increased client “share of wallet”
    • Attracted new clients/retain existing clients
    • Increased value of business
  • Reduced business costs with eMoney in the following ways:
    • Streamlined financial planning process
    • Efficient aggregation/direct feeds
    • Streamlined data entry
    • Statement consolidation
    • Decreased travel time [screen sharing]
  • 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
    • Enabling proactive communications strategy via constant monitoring and alerts
    • Providing complete transparency
    • Showing a commitment to staying in front of tech trends
  • Saw a return on their investment in eMoney in < 6 months.
  • Found that the delivery of the Client Website impacted their relationship with clients in the following ways:
    • Differentiating from competitors
    • Providing interactivity and collaboration amongst clients
    • Position as client’s primary advisor
    • Enabling access to a comprehensive view of financial life
    • Providing 24-7 access to customer data and the company
    • Allowing proactive approach with clients
    • Providing a high level of transparency
  • Increased the following with eMoney Advisor:
    • Revenue and profit: 30-50%
    • Annual cost savings: up to 10%
    • Client retention rate: > 50%
    • Additional products per client: up to 10%
    • Held away assets captured: 10-20%

eMoney Reduces the Time Advisors Spend Creating Financial Plans

How much less time does it take you to build a financial plan now that you have eMoney?

1/2 the time: 60%
1/3 the time: 18%
1/4 the time: 22%

I knew eMoney was worth the investment when I had a pre-retiree prospect in the office and, after showing them them a marketing video from eMoney, the prospect looked at her husband and said “We need something like that to help us budget in retirement!” They signed on as a client and we started the eMoney on-boarding process that day.

Adam Cmejla, Financial Planner, Integrated Planning & Wealth Management

Grow Your Business and Keep it Running With eMoney

Over half of surveyed financial advisors have increased recurring revenue 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