First Rate ARKON Improves Advisor Reporting Experience

Client Situation

The representatives of an independent Broker-Dealer were unable to produce client reports that included investment performance and most representatives did not have a Customer Relationship Management (CRM) application.  

Client Challenges

The biggest challenge was representatives wanted to provide their clients with performance information but were manually gathering the data, calculating performance and creating reports or the representatives were not able to provide clients with performance information at all. Another challenge the representatives faced was multiple locations of client information and interactions, causing advisors to search and spend time on tedious tasks to prepare for client meetings and produce reports. They lacked a CRM system to keep track of this information needed on a daily basis.  

What the Client Wanted

The broker dealer wanted to provide their representatives with a turnkey performance reporting solution and a platform that kept all of the client information safe, secure, and easily accessible.  

What First Rate Provided

First Rate provided ARKON, a wealth management platform that is a cloud based CRM tool with client reporting capabilities. The CRM provides advisors with client relationship support, workflow management, and email and file archival. This solution also allows for consistent, practice-branded reports to be run easily by the advisor, without having to build the report manually. First Rate also provided Lightning, a turn-key reporting solution with streamlined reporting.  

The Impact

Advisors are able to more effectively communicate with their clients about their performance reports and they are able to better track and increase sales with the help of the CRM tool. They have improved communication with clients and are extremely happy with customized reporting options. ClientOne is able to deliver a technology option for their advisors that is firm level approved with practice-level customizations.