Refinitiv today announced the launch of its new digital collaboration capability ‘Refinitiv Wealth Connect’, designed to help wealth management firms and their advisors advance with the growing pace of digital transformation within the wealth management industry.
The new capability will allow users of Refinitiv Digital Investor to collaborate dynamically with their advisors, other front office personnel or the home office of a wealth firm. Refinitiv Wealth Connect will be embedded seamlessly into Refinitiv Digital Investor to allow for collaboration through the following channels:
• Chat / Chatbot: Users can communicate through a secure channel for quick pointed conversations or wealth firms can integrate a rules-based or AI-based engine to provide automated support
• CoBrowsing: Advisors or support personnel can perform live observation of users accessing portals and other information, and they can browse with the investor to provide support
• Messaging: Advisors and clients can use traditional SMS or embedded mobile device notifications to connect through a proven and well accepted method
• Video: Advisors and clients can engage in real-time video calls through the platforms - either inbound or outbound—on demand at the click of a button
• Voice: Advisors or investors and initiate or receive voice calls, and advisors can connect calls data to CRM platforms
Charles Smith, Head of Digital Solutions, Wealth at Refinitiv, said: “In a recent Refinitiv survey of over 1,000 investors, only 37% give their providers top scores for their digital experience. With Refinitiv Wealth Connect, we are addressing the need for collaboration tools to help wealth firms enhance their digital experience and drive client engagement, ultimately building loyal client relationships as expectations continue to accelerate in the digital age.”
April Rudin, CEO and Founder of The Rudin Group, said: "Digital adoption is an imperative for financial advisors today, and there is no turning back. In order to engage with clients through the collaboration channels they expect and demand, financial advisors must accelerate their embrace of these new tools. Refinitiv Wealth Connect recognizes this reality and helps advisors seize the opportunity inherent in this moment.”
Ashley Longabaugh, Senior Analyst, Wealth Management Practice at Celent, said: “Advisor-client collaboration is a “must-have” prerequisite for wealth managers in today’s increasingly complex, digital, and remote environment. Digital collaboration functionality, such as secure messaging, video, document sharing, hybrid advisory, and remote workstations is a critical component in aiding a deeper advisor-client relationship. Wealth managers and advisors are faced with the task of innovating their wealth management platforms and propositions as investors become accustomed to hyper-personalized services and products in adjacent industries.”
Refinitiv has a rich history of servicing the Wealth Management industry from front to back office. Over the last two years, the firm has invested heavily in the business and is committed to bringing the most advanced solutions to market. The ongoing transformation includes building out the firm’s solutions through strategic acquisitions such as Scivantage and the launch of Refinitiv Digital Investor. Refinitiv wealth management solutions empower firms with faster time to market for digital properties while offering a flexible framework consisting of web-based components, pre-built pages, APIs, mobile apps, and collaboration tools such as video, co-browsing and secure chat that can be precisely configured for clients. A developer toolkit provides an additional level of control for in-house teams to design new and enhanced digital solutions.