What’s in My Wealthstack: Leaving the Server Behind by SignatureFD CIO

As an investor, keeping up with the latest trends and tools in the financial sector is key not just to success but survival. In today’s modern age, technological advancements have proven vital, particularly in the face of an evolving industry. From changing our client relationship management (CRM) systems to updating our financial planning tools, there’s a lot to unravel. I am excited to discuss how we’ve recently expanded our portfolio to include some top-notch services and products that have enhanced our processes and ultimately resulted in greater client satisfaction.

A New Approach to CRM

We all know how crucial effective CRM is. That’s where Salesforce comes in. We recently made a switch from the old server-based version of Junxure to Salesforce Sales Cloud, and it’s fair to say it was anything but easy. The decision was made primarily because we felt Junxure was quite rigid and not scalable enough to cope with our growth.

Believe it or not, transitioning from Salesforce was like getting blood, sweat, and tears extracted from some poor developers– no kidding! The Junxure’s data structure was tedious, making it extremely difficult to retrieve our data from it. However, since we moved to Salesforce, things have been so smooth. Getting data out is no longer an ordeal. Its massive plus is the excellent integration offered. Did you know that the custodians are even doing a fabulous job bringing integrations into Salesforce?

Rebalancing with iRebal/Orion Eclipse

We found that our existing rebalancing tool, iRebal, was not future-oriented. That’s why we have embarked on a project to replace the server-based version of iRebal with Orion Eclipse. While iRebal has been fantastic, it only works as a standalone. However, Orion Eclipse offers some promising features and advancements that have left us unequivocally impressed.

We are glad that Orion Eclipse plans to take rebalancing to a whole new level with its offerings. It is still early stages, and we’re in the process of transitioning. But hey, change is indeed the only constant, and we’re all for it!

Portfolio Accounting/Reporting: An Orion Affair

When it comes to portfolio accounting and reporting, we have a decade-long relationship with Orion. Yes, you heard it right! We had previously been using PortfolioCenter by Schwab, but it couldn’t match our growing demands. Moving to Orion was all about scalability. Orion not only relieved us from outsourcing portfolio accounting, but their system and reporting were also much more efficient.

Moreover, Orion’s integration with Salesforce is what sets it apart. The team can view most client data from our Orion accounts in Salesforce itself. This comprehensive feature has proven to be an invaluable advantage for us.

One hiccup that we’ve encountered is with the financial planning tool eMoney. We’ve been experiencing some integration issues with it despite it being a prominent name in the industry. We understand eMoney is offering some APIs now, and this might be something we have to investigate.

Now onto tax planning, we have been using Holistiplan alongside Bloomberg BNA Tax Planner. While Holistiplan has automated many of our tasks, we still need Bloomberg for some specific client cases due to its robust features. The union of these two powerhouses ensures we can look after all our clients’ tax planning needs.

Technology has become an integral part of the finance industry, and it’s essential to stay current with these trends. As witnessed by our recent transitions and adaptations, keeping pace with the changing technology landscape can not only improve efficiency but also help in providing superior service to our clients. Remember, staying stagnant is not an option in a field where every second count.

Final note: I would love to hear what’s in your wealth stack? You can reach out to me at [email] for any further enquiry or discussion.

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