Financial Services Institute (FSI) officials said they have formed a partnership with Truelytics to ensure member access to advanced, timely and cost-effective valuation and business intelligence software.
FSI officials said Truelytics is the only online self-service business intelligence platform giving financial advisors the ability to understand and drive the value of their entire practice.
“While our top member benefit always will be advocacy, occasionally an outstanding opportunity, such as CoveredAdvisor, arises that is so beneficial to our members that we cannot let it pass by,” FSI president and CEO Dale Brown said. “Truelytics is clearly one of those opportunities.”
The collaboration, FSI officials said, is an outgrowth of FSI’s Marketing, Growth and Development Council’s belief that accurately determining and tracking fair market value is essential for the owners of all financial planning and wealth management firms.
“Truelytics will enable FSI members to analyze their operating and portfolio dynamics against key performance metrics, take objectively informed actions to optimize management efficiency, and deliver a better and more profitable client experience,”
Terry Mullen, Truelytics CEO, said.
Officials said financial advisors should seriously consider putting Truelytics in place prior to upcoming industry changes. Larger financial services firms would also benefit, they said, because owners and management would have real-time access to individual as well as aggregate data from their advisors using Truelytics.