White papers and reports across the board said that in order for financial advisers to stay afloat, they must dive headfirst into the high-net-worth market. But few papers actually give specific suggestions on how advisers should do this.
One company believes it has a solution that will help planners transition their firms toward catering to the wealthy.
Metavante Corp., a Milwaukee, Wis.-based financial services technology provider, will implement wealth management models for planners by improving a firms business processes through the use of technology, training programs, process reviews, project management and marketing support.
Officials at Metavante said their purpose is to help advisers define wealth management and change a firms business model so that it can enhance revenue and retain clients. "Its a combination of processing technology and people as a package," said Norrie Daroga, general manager of Metavantes wealth management division. "This is a business solution to improve your bottom line."
This story was adapted from a story appearing on Financial Planning Interactive.