Future-Proofing Your Business with New Technology

Digital evolution is one of our firm’s top priorities as we strive to provide an industry-leading experience for our advisors and their clients. Leading the charge on this front is Liz (Ferreira) Lepore, CFP? , Vice-President, Advisor and Client Experience and Digital Transformation.????

In partnership with IT, Liz and her team have been laser-focused on developing a sophisticated but easy-to-use digital ecosystem that drives client satisfaction, empowers our advisors and facilitates their ability to run their independent practice as they see fit.??

Liz recently spoke to a few iA Private Wealth advisors to discuss how they’ve been adopting new technologies to drive growth. Here are some of the key highlights from their discussion:???

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iA Private Wealth’s AX360 Platform??

iA Private Wealth’s AX360 platform provides advisors with a comprehensive view of their clients and book of business with customizable business filters. Robert Luft , Senior Portfolio Manager at iA Private Wealth, says he uses AX360’s book analytics to look at three key components of his business’ growth: net new clients, money from existing clients, and market variation.???

“We have a benchmark we track monthly for every single model portfolio we run. We then use AX360 to export that data and see the percentage increase of our book and whether we’re doing well or not. This way, we can determine very quickly at the advisor or team level if we’re proactively growing the business or if we're reliant on the market for growth and have an issue that needs attention.”??

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iA Private Wealth’s Client Portal and Mobile App?

When advisors communicate about their digital tools to clients, client satisfaction increases 2.8x and advisor referrals increase by 2x, according to the J.D. Power 2024 Canada Full-Service Investor Satisfaction Study.??

Brent Vandermeer , Senior Portfolio Manager at iA Private Wealth, and his team are hyper-focused on educating and onboarding clients to iA Private Wealth’s Client Portal and Mobile App.??

“We’re really looking for ways to make the simple, everyday work robotic, quick and efficient so -we can focus on the personal side, which is what people are still looking for,” says Brent. “Our clients want that trusted person they can connect with, but you have to have the technology suite to go with it.”??

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Artificial Intelligence?

iA Private Wealth is in the process of building and testing new AI tools that will greatly increase productivity. Gemini chatbot has been integrated into the AX360 platform, providing advisors with the ability to receive answers on straightforward policies, procedures and documentation. In addition, it enables advisors to query client information, generate lists based on specific criteria, and create client letters, among other functions.???

Advisors are also excited for Microsoft Copilot. Nader Hamid, CIM?, FCSI?, F. Pl. , Senior Portfolio Manager at iA Private Wealth, sees great potential for using Copilot in the practice management portion of the business.??

?“Imagine you have a position to fill on your team. You could write a prompt that says, check out all the resumes I received in the last month and compare them to the assessment of the type of person we’re looking for,?and not just the numbers but look for soft skills or someone who looks interesting,?and filter down to the three most qualified candidates.”?

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Open Architecture???

When it comes to providing an open architecture platform, Liz notes that “we want to allow advisors to select their own CRM and financial planning tools, as this provides advisors with maximum flexibility to build out their own client experience and determine the best tool to provide that experience. In addition, through API integration, we will be able to ensure data is updated daily, creating further efficiencies for our advisors.”????

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5 Principles Guiding Our Digital Advisor and Client Experience??

1. Advisor engagement and feedback are core values.?
2. Maintain an advisor- and client-centric mindset.?
3. Provide insights that drive business growth for advisors.?
4. Streamline operations to create efficiencies and improve productivity.?
5. Offer advisors maximum flexibility through data and open architecture.?