As advisors look to differentiate and add value for their clients there is often an urgency at times to improve Advisor Standard of Care. Standard of Care provides the foundation for the service engagement between a financial advisor and his/her client. From a regulatory perspective if the advisor is a registered investment advisor (RIA) or a broker dealer representative then the Standard of Care is often either Fiduciary or Suitability. Although each particular advisor is unique, in general broker dealer representatives are held to the suitability standard and registered investment advisor representatives are held to the fiduciary standard.
The suitability standard allows broker dealer representatives to offer products for suitability from the products the broker dealer carries. The representative is paid a commission. The fiduciary standard demands the registered investment advisor representative offer the "best advice" taking into account the needs and situation of each individual client. The investment advisor representative is paid with fees unrelated to the portfolio products the client is allocated to. With the new Department of Labor ruling there is a stricter standard for (ERISA) retirement accounts where all advisors (both RIA's and Brokers) are to provide fiduciary standard for ERISA accounts. This leaves no room for not acting in the best interest of client.
Advisors that develop investment operations are able to provide a Standard of Care well above regulatory requirements and are able to grow their business at a faster pace then those that don't focus on it.
Highly responsive, efficient, reliable investment operations creates opportunities from threats facing advisors. In an environment of increased competition, complex and shifting regulatory environment there is a demand for more transparency for delivering value to clients. There is pressure to reduce costs, improve margins and threats from technology and sophisticated clients that demand more.
Protectio Investments is able to work with financial advisors in the background with trust and confidentiality. Our strengths include improving investment operations, client reporting, portfolio management, portfolio design and successful complex project management. Some of the systems and processes we implement, integrate, improve, support and help advisors make sense of include:
Portfolio Management Systems - Experience deploying, training, and best practices using Black Diamond, Schwab Portfolio Center, Tamarac, Morningstar Office, Orion, Albridge, BlueLeaf, among proprietary systems and others.
Client Relationship Management (CRM) Systems - Experience deploying, training and best practices using Junxure, Redtail, Salesforce, Microsoft Dynamics, Tamarac CRM , Salentica among others.
Financial Planning Tools - Experience deploying, training, and best practices using MoneyGuidePro, eMoney, MoneyTree, Advicent/Naviplan, Advizr, Right Capital, Finance Logix among others.
Document Management Systems - Experience deploying, training and best practices using DocuSign, Laser App, Laserfiche, Worldox, NetDocuments, Docupace, among other in house or cloud storage solutions.
Investment Analytics - Experience deploying, training and best practices using Morningstar, YCharts, Hidden Levers, Advisory World, RiXtrema, FactSet, among other solutions.
Trading/Rebalancing Systems - Experience deploying, training and best practices using Tamarac, iRebal, Total Rebalance Expert, Trade Warrior, Red/Black, FolioDynamix among others.
Client Portal Systems - Experience deploying, training and best practices using eMoney, Modestspark, Sharefile, Tamarac, Everplans, Oranj, Wealth Access among others.
Risk Tolerance Systems - Experience deploying, training and best practices using Riskalyze, FinaMetrica, Pocket Risk, among others.
Client Data Gathering Systems - Experience deploying, training and best practices using Precise FP among others.
Investment Due Diligence - Experience deploying, training and best practices using Fi360, Morningstar Direct, among others.
Our Experience: We have worked with many Wealth Management and Financial Advisory firms and can provide references. By working with us we can implement best practices and match your advisory business with the best fit tools.
