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Finetix, the leading financial services IT consulting firm, and salesforce.com (NYSE:CRM), the market and technology leader in on-demand business services, today announced the launch of Finetix Investor Relationship Management (FIRM) for asset managers and wealth managers on salesforce.com's AppExchange. Finetix developed FIRM specifically for asset and wealth managers to enable improved client acquisition and client retention. In addition, FIRM's analytics allow for improved management of the business, from ensuring that financial advisors are spending the right amount of time with the right clients and prospects to analyzing customer segmentation across products. FIRM joins the more than two dozen applications in the financial services category on the AppExchange, further expanding the selection of on-demand applications available to salesforce.com's more than 1,200 successful financial services customers.
Institutional asset management and wealth management have become increasingly competitive within the past several years. Today, there are more types of firms chasing a greater share of wallet from the same client base. The struggle for firms to acquire and retain clients against a crop of new competitors requires them to maintain much deeper client relationships. In addition, clients have become increasingly sophisticated and self-directed. Institutions, including pension funds, foundations, and endowments, demand greater communication on investment strategy, positions and portfolio valuations. Changing client demographics and "money in motion" mean more opportunities in the market. In this competitive landscape, relationship management is a key competitive edge.
FIRM is designed for asset and wealth managers who want to meet these demands. Utilizing FIRM, relationship managers have a centralized platform to understand a client's investment goals, what products to offer, view client portfolios, understand their total wallet makeup and where their money is invested. In addition, robust reporting allows managers to manage and improve the efficiency and effectiveness of their line of business, with the ability to report on aspects such as relationship manager Key Performance Indicators (KPI), customer segmentation across financial products and other key metrics that drive the business. FIRM is offered through Finetix's Client Relationship Management Practice and complements Finetix's other offerings, including trading, risk management and client and internal reporting systems.
FIRM features include:
* Client and prospect management
* Centralized portfolio view
* Onboarding and client retention tools and surveys
* Fully customizable reporting
* Back office integration
* Point and click customization
* Access from desktop, laptop and Blackberry
"Our clients are looking for an integrated platform to help them manage their business and improve client interaction," said David Chapman, CTO of Finetix. "Our goal is to develop simple scalable solutions that will help relationship managers bring new money into their investment offerings and retain and grow existing investments more effectively. In addition, the AppExchange directory and marketplace, in combination with our Agile project delivery methodology, allows us to deliver business value rapidly."
"More than 1,200 financial services companies have already embraced the business benefits of salesforce.com's on-demand model, including shorter implementation times and faster time to business value," said Tien Tzuo, senior vice president, financial services, salesforce.com. "Asset and wealth managers can now go directly to salesforce.com's AppExchange and quickly deploy FIRM with just a few clicks for industry-specific functionality to help improve their day-to-day operations."