Commonwealth Financial Network®’s Tedesco Announces Sweeping Technology Enhancements at National Conference
—Intuitive tools and total integration are key drivers for enhancements—
Waltham, MA (October 20, 2014)—Commonwealth Financial Network®’s Darren Tedesco, managing principal, innovation and strategy, recently addressed more than 900 financial advisors attending the firm’s annual National Conference, October 6–9, 2014, in Orlando, Florida, offering a technology SWOT analysis and providing insight on the company’s current information technology initiatives and goals for 2015.
“Commonwealth’s core operating systems, Client360°®, Practice360°®, and Investor360°®, have undergone significant enhancements, and there are even more benefits in the pipeline,” said Tedesco. “Today’s advisor needs the tools that fully support and add value to the planning process and strengthen the advisor-client relationship. We are delivering the technology that allows advisors to differentiate themselves now and stay competitive with the advisor of tomorrow.”
Two tools within Client360°—Commonwealth’s total client management system—have been optimized to markedly improve efficiencies in the financial planning process. The latest version of WealthGuide®, released in August, offers enhanced customization features. The latest version of Goals, scheduled for release by year-end, will feature improved navigation and visuals, as well as additional calculations. Reports generated from both tools can be added to 1–Click Reviews®, further streamlining the review process and simplifying the advisor’s experience.
Commonwealth’s Practice360° allows advisors to manage their entire book of business in a single, streamlined application, from viewing every household, account, or person on one page to creating both static and dynamic groups of the same. “By year end, Practice360° Models will feature household modeling and rebalancing, allowing users to treat multiple accounts in a household as a single account assigned to one model. This should increase clients’ net after-tax returns not only by optimizing in which registration types assets live, but also by reducing the number of trades and their corresponding ticket charges,” said Tedesco.
A faster, sleeker Investor360°, version 4.0, was released earlier this year. The tool, which gives advisors’ clients the ability to review their own financial information, features impressive functionality, such as performance reporting, account aggregation, a shared secured document vault, TurboTax® and Quicken® integration, and the capacity to scale responsively to all devices.
Hands-on training at the conference helped advisors learn about and leverage Commonwealth’s suite of tools and services, one of the factors that drives our industry-leading adoption rates.
Commenting on operational tools, Tedesco pointed out, “We released our third-generation mobile app, which now includes mobile check deposit and has an improved interface. This continues our decade-long push of enabling our advisors to work where, when, and how they want.”
Also discussed at the National Conference was Commonwealth’s newest CRM system. “Upgrading our CRM system will result in increased integration and speed, improved synchronization, more robust tools for our offices, and a consistent user experience across all browsers and devices. We believe our fifth-generation CRM will be the best in the industry—approximately 75 percent of advisors currently use Commonwealth’s CRM, and we expect that adoption rate to approach 100 percent,” Tedesco added.
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer-RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. J.D. Power ranks Commonwealth “Highest in Independent Advisor Satisfaction Among Financial Investment Firms, Four Times in a Row.” The firm supports more than 1,487 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit www.commonwealth.com.
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