Here on Salentica, we have built an App that allows you to track the Asset Management portion of your business. This enables you to master the market, optimize channels, and cultivate lasting client relationships. Elements for Asset Management includes custom Objects that are specifically needed and used by asset managers, including Strategies and Products, as well as Distribution Channels and Distribution Teams. It also includes InTouch so you're talking to the right person at the right time, and Activities to track all your related phone calls, meetings, and tasks in one place.
Let’s first start with Strategies and Products.
- Products are the individual products or funds that Asset Managers sell to advisors for their clients.
- Strategies are a group of Products that are generally bundled together based on a similar investing approach.
Next, we have Distribution Channels and Distribution Teams.
- Distribution Channels are a way to segment the Advisory firms that the Asset Managers are selling to, either as an entire firm or by branch within a firm.
- Distribution Teams allow you to further segment your channels, as the Distribution Teams can roll up to a Distribution Channel. This is helpful if you’re in different stages of the sales process, or different stages of a relationship with different teams within the same channel.
Click here to see the Asset Management hierarchy.
The hierarchy of Asset Management allows information to be gathered from the Investment Account level to show at the higher levels of information. The Investment Accounts aggregation details allow you to quickly view the expansion or contraction of Firms, Distribution Channels, Distribution Teams, Strategies, and Products. Year to Date (YTD), Rolling 12 Months (12M), and Inception to Date roll-up fields are available for Investment Accounts showing details like Accounts Opened, Accounts Closed, Contributions, and Withdrawals. Based on the underlying Investment Accounts, you can also view the Total Market Value, Number of Open Accounts, Average Account Size, and Valuation Date.
Investment Products will roll up to their assigned Investment Strategy while Distribution Teams will roll up to their respective Distribution Channels.
In Salentica Elements, New Business is the potential sale, service, or product you are offering your client. With New Business, you can forecast revenue, set a potential close date, and factor in a probability for the sale. You can also track Contact details and pull pipeline reports and expected revenue detail. This Object allows you to track New Business associated with your institutional relationships, Distribution Channels, and Teams, throughout the life cycle of the sale. You can track New Business on both existing clients and on net new opportunities. You can also track a channel or team's status as Prospect, Active, or Terminated. Click here to learn more about New Business.
Through the process of expanding your business and your offerings to clients, due diligence becomes a larger part of the everyday work of a firm. The new Due Diligence module centralizes this effort for you, our clients. This will help streamline your effort to collect your emails, surveys, and meeting notes that are required for your due diligence processes. Using the new Due Diligence tools, you can memorialize your process, protocols, and notes, all in one place, creating greater collaboration in the due diligence process. You can track your Due Diligence on the Company, Distribution Channel, and New Business sections. Click here to learn more about Due Diligence.
Due Diligence on Company
Contacts and Relationships
Contacts are the individual people that your firm works with. These could be clients, advisors, Distribution Team members, or COIs. Contacts contain information that is specific to an individual such as personal information, preferred contact methods, and employer information. Contacts are linked to Relationships.
Relationships are a hub of information that allows the grouping of information such as Contacts, Addresses, Portfolios, and Investment Accounts. Relationships allow direct contacts which are generally family members and indirect contacts such as an accountant, attorney, or consultant. In the case of COIs, most firms will create a business Relationship so that the employee or main contact is a direct contact on the business relationship.
Contact information does not currently come from Data Broker or your Portfolio Management System and must be manually entered, by your firm.