Trust Company of America Adds Powerful Sales Performance Analytics and Client Acquisition Tools to Liberty, its Industry-Leading Technology Platform

DENVER--()--With fee-based assets under management for independent investment advisors expected to double in the next five years to $7 trillion, Trust Company of America (TCA) today unveiled a suite of features in its Liberty Mobile Platform designed to help RIAs capture a greater share of the tsunami of assets entering the fee-based wealth management industry.

TCA’s new technology, including sales performance analytics, paperless client recruitment and onboarding, a built-in Customer Relationship Management (CRM) system and in-app access to Meridian-IQ’s registered representative database, will be available in early December on Liberty. Liberty is the first RIA platform accessible by both advisors and clients on any piece of glass—from desktop computers, to tablets, phones and other mobile devices.

“For years, the investment advisory business has been data rich but information poor when it came to understanding the success of sales and business development efforts,” said Mike Lover, Vice President of Process Improvement for Trust Company of America. “Our new technology, combined with features already in Liberty, will make data actionable and will help RIAs be more efficient as they grow their practices.”

Adult “Gamification” and Advisor Recruiting

TCA’s new sales performance analytics allow advisors to break down their book of business and track historical and current performance of business development efforts by a variety of metrics—from average account size, to sales per representative, to accounts opened and closed. The data can be viewed holistically to show the overall performance of the entire business, or it can be made specific to an office or even a representative.

Borrowing from the concept of “gamification,” RIAs also have the ability to make the data transparent to their representatives in the form of a “leader board,” so reps can see how they compare to their peers.

“Sales people, like golfers or video game players, want to get the best scores,” said Lover. “Liberty introduces a level of transparency that has not been available to RIAs before, allowing advisors and reps to see the leader board so they know where they stand—and what they have to do to be the best.”

Through a partnership with Meridian-IQ, TCA has also added an advisor recruitment tool to Liberty. Advisors with growing practices can search Meridian’s database of nearly 600,000 registered reps, filtering by geography, specialty, assets under management and other criteria. The database is integrated with Liberty’s CRM, so users can track communications with potential reps or advisors and add contacts with the click of a button.

Paperless Client Acquisition

TCA’s new client recruitment system eliminates the hassle, time delay and potential inaccuracies associated with paper-based sales and acquisition strategies. The system—complete with a proposal generator and e-signature function—allows clients to electronically complete and sign documents and streamlines the process of adding new clients and creates transparency in communications. With e-signature, RIAs can see the status of pending documents and minimize duplicative paperwork.

Earlier this year, TCA significantly enhanced Liberty, adding all investment management and reporting functionality to the platform and giving advisors, registered representatives and clients instant access to account information and reports. TCA was the first custodian to bring critical advisor functionality, including strategy and trading management, performance reporting, consolidated asset management and model processing and rebalancing, to the mobile environment.

TCA is also the first custodian to offer fully-customized mobile apps to its RIAs, designing and building the RIA-branded app—all at no extra charge. TCA does all the legwork for getting the app on the shelf at the Apple, Google and Microsoft app stores—not a small feat when you consider that on average 30% of apps are rejected on their first submission to the Apple app store.

“Consumer technology is driving change in the RIA business, and we are helping advisors meet their needs and the growing expectations of their clients,” said Lover, a Six Sigma Black Belt and an efficiency expert. “Our technology allows advisors to provide clients with a seamless mobile experience and to stay connected anytime and anywhere.”

About Trust Company of America

Since 1972, Trust Company of America (TCA) has been a champion of Registered Investment Advisors, dedicated to helping them realize their full potential. TCA is the only independent RIA custodian offering fully integrated real-time technology, consultative services and back office support built exclusively for RIAs. Headquartered in Colorado, TCA is a partner to advisors, providing the technology and support they need to manage their practices and clients’ financial futures. See more at: http://www.trustamerica.com.

Contacts

For Trust Company of America
Peppercomm
Mo Shafroth, 720-239-1263
mshafroth@peppercomm.com

Contacts

For Trust Company of America
Peppercomm
Mo Shafroth, 720-239-1263
mshafroth@peppercomm.com