Q: We’re referring to the word ‘experience’ quite a bit here. Can you explain how, at AdvisorEngine, you guys really define experience?
We think of people, process, and technology. When you think about technology the starting point is going to be the data. So having a robust data set, an accurate set of data, an accessible set of data, and sometimes that’s the hardest part, making it accessible and connecting all the data. So you have all this data, and it’s not connected, it’s very hard to make that meaningful and drive that connectivity. The second thing is processes. So really looking at processes, and understanding each step in them, and how the data needs to connect and flow through it. On the people side, that’s where we spend a ton of time. We have three core constituents. We like to say we’ve coined this phrase, AX which is the advisor experience, BX, which is business operations experience, and CX, which is client experience. When we think about the industry that we’re in, historically, people either built good advisor platforms or good client platforms. What we did, which I think is quite unique, is that when we started, we wanted to connect all three into one platform. By doing that, and having a robust data set, then you can truly connect the three, the three can be connected experiences, whether it’s messaging, whether it’s opening accounts, moving money, all those types of things that you need to do to service a client is all fully connected and flowing through all the different stages of a client lifecycle. So that means from a lead to opening the account, funding the account, putting that money to work, trade rebalancing, and finally, fee billing. And of course, you want to report to the client, how their portfolio is doing. So, if you connect all those pieces, then you now have a scalable environment, you have a consistent environment, and you can deliver your brand, your ethos, and the service level that you want to deliver that you’ve promised to deliver to your clients.