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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 »



6,066 Customers Surveyed

54,381 Data Points Collected

121 Published TechFacts

78 Published Charts

37 Published Case Studies



Selected Research Highlights


Extending Your Reach With the Right Technology

24/7 technology allows our firm to gain new clients and referrals from anywhere as long as they have a cell phone, computer/iPad and an internet connection. With eMoney, I will be looking to expand to capture new families and next generations.

Financial Advisor, Small Business Financial Services Company

Realizing ROI

71% of surveyed financial advisors saw a return on their investment in eMoney in 12–18 months or less.

eMoney Advisor Case Study

Case Study: A Few Minutes with eMoney Acquires New Client

Introduction

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

“In my previous firm eMoney was utilized more. The best success story was immediate acquisition of a prospective client after showcasing eMoney for a few minutes. Working on increasing utilization of eMoney within current firm…”

Challenges

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

  • Solved for the following challenges with eMoney:
    • Having all of the data in one place for easy access
    • Easily updated financial plans

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
    • Aggregation
    • The reports
  • Has 75-99% 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
  • Has improved business efficiency with eMoney in the following ways:
    • Decreased travel time
    • Efficiently aggregated direct feeds
    • Improved team collaboration
    • Streamlined the financial planning process
  • Has increased client satisfaction and retention through the following ways with eMoney:
    • Developed and maintained a living/breathing comprehensive financial plan
    • Been able to plan interactively
  • Is able to increase prospecting and new business generation in the following ways with eMoney:
    • 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:
    • Given them the ability to provide a comprehensive view of financial life
    • Provided interactivity and collaboration with clients
  • Has improved the following areas by the corresponding level since using eMoney Advisor:
    • the client retention rate: > 75%
    • the clients on target to goals: > 75%
    • efficiency and time savings: > 75%
    • held away assets captured: up to 25%
    • revenue and profit: up to 25%
  • Finds eMoney to have the most positive impact on Retirement Planning.

Case Study: Costs Declined, Retention Rates Soared with eMoney

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.

“As a solo advisor, eMoney has allowed me to take on new clients and expand my business without adding employees. It has also saved me a large amount of time and costs. Despite being three-times more than the software I was using, my overall expenses went down 15% in the first year after using eMoney. eMoney allowed me to go with paperless presentations, the savings on toner, paper, etc. was tremendous. I feel much more prepared for meetings, and I have more time to focus on the issues that are most important to my clients. My client retention has also increased to 100% in the two years since I have been using eMoney.”

Challenges

  • Solved the following challenges with eMoney software:
    • Differentiated company from competitors
    • Provide access to assets held away
    • Decreased legwork when planning for meetings/presentations
    • Provided ability to easily updated 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:
    • Marketing tools and materials
    • Ability to increase speed of on-boarding new clients
    • Interactive presentations
  • Reported the following eMoney features are most useful to their business:
    • Aggregation
    • Vault
    • Decision Center
    • Reports
    • Client Website
    • Advanced planning
    • Screen sharing

Results

  • eMoney has helped grow business in the following ways:
    • Attracted new clients/retain existing clients
    • Scaled business
  • Reduced business costs with eMoney in the following ways:
    • Streamlined financial planning process
    • Efficient aggregation/direct feeds
    • Streamlined data entry
    • Increased efficiencies due to integrations [Outlook, CRM, performance tools]
  • 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 mobile access [24/7]
    • Providing complete transparency
    • 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
    • Providing interactivity and collaboration amongst clients
    • 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: 10-20%
    • Client retention rate: > 50%

How much have you increased the following since becoming an eMoney user?

eMoney Advisors increased the following since becoming an eMoney user:

S 80%-100%+ S 60%-80% S 40%-60% S 20%-40% S 0%-20%

AUM
Recurring Revenue
Referrals
Clients
Share of Wallet

eMoney Advisor Customer Research

Of those who say eMoney helped attract clients, 69% cited comprehensive and real-time financial plans

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

Developing and maintaining a living/breathing comprehensive financial plan
69%
Organizing their life by creating a real-time view of their financial picture
69%
Planning interactively
51%
Mobile access (24/7)
50%
Complete transparency
48%
Ability to track goals
38%
Asset allocation strategy based on managed and held-away assets
38%
Showing a commitment to staying in front of tech trends
38%
Creating opportunities to engage spouse, children, and other trusted advisors
34%
Proactive communications strategy via constant monitoring and alerts
14%
Other
2%


More to Explore



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