There is no uniform way of delivering financial updates and education to financial advisory clients anymore.
Family matriarchs and patriarchs log into accounts in the early hours of the morning, while 23-year-olds check account balances on their iPhone.
That’s why Atlantic Trust, a private wealth management firm in Atlanta, appointed Logan Allin to the newly created position of head of strategy and client experience.
The firm is the latest in a string of high-profile financial services firms to adopt the term, all in an effort to take excellent care of their customers and distinguish themselves from competitors.
Allin’s short-term goals will involve working with senior operations and technology officers, to developing a vision and strategic plan around client service. Everything involving how clients get access to account information and understand their money will fall under him. It is not enough to have quarterly statement ready whenever clients come in for updates, Jack Markwalter, chairman and chief executive officer of Atlantic Trust, said in a phone conversation. Clients want to see their asset allocations in real time whenever they like.
“He is going to look at how all of our systems work together to enhance client service,” Markwalter said. “Different clients have different needs. It is a constant interaction with them.”
That includes the 14 client-oriented educational events that Atlantic Trust has sponsored around the country since January. Twenty-two more are planned between now and into next year. It also involves educational Webcasts, conference calls, Markwalter said.
Allin, a former senior vice president in the wealth management division of City National Bank, has spent a large part his career as a consultant for large global financial service firms and wealth management firms. He has held leadership positions at PricewaterhouseCoopers, EMC Corporation and Capgemini, all based in New York City.
“He got to see the best-of-breed systems, and that makes him uniquely qualified,” Markwalter said.
But he won’t be doing it all on his own. Atlantic Trust appointed Julia Beisel as a director of client administration, to implement the firm’s daily tactical client service operations. Atlantic Trust is growing in another way, too, Markwalter said. The firm is closing in on adding $1 billion in net new assets under management, with more than $15.4 billion in assets under management as of June 30. “Logan is part of building, expanding our presence,” he said. “If it is important to the client, it is important to us.”