Advisor Picks the Right Partners to Increase AUM

By Barbara Kotlyar, Senior Marketing Manager on Thursday, June 9th, 2011

Here at ByAllAccounts, we run a fair number of webinars, and like most business initiatives, they require a bit of preparation. Most recently, we ran a webinar on June 8th in conjunction with Jefferson National that showed how we worked with them to help our mutual client—Kenjol Capital Management—significantly increase AUM.

During these preparations, I had a chance to speak to some of the key players at Kenjol. I found that they had some interesting things to say that not only reflect how they managed to capture a greater share of wallet, but that also serve as guideposts to other advisors seeking to build their businesses.

According to David H. Levy, CFP, Portfolio Manager, “Most of our clients are [high net worth individuals] in their mid 50’s and headed towards retirement age.” To make the most of their clients’ assets in those pivotal years before retirement, Kenjol uses account aggregation to see their client’s total picture. According to Levy, “ByAllAccounts gives Kenjol the access we need to show the way various elements of the clients’ financial picture fit together, rather than looking at things in separate silos.”

In the past firms had to manually enter annuities and retirement account information into their back office systems, which is not timely or scalable. Kenneth Landgraf, Principal, Founder and CEO elaborates, “I am a big believer in outsourcing. Do you want to spend your best time with your clients, or do you want to spend your best time working on some spreadsheet in the back office?”  If there’s a technology that can do the job for you, he believes it’s something worth adding.

Levy concurs: “[ByAllAccounts]…allows for the process to be scalable and takes a lot of manual labor out of the equation. About $8 million, or 10 percent of our business, are assets that are in ByAllAccounts today.”

As Patrick Moore, Senior Financial Advisor, states, “We can connect very easily now and grab those assets in annuities like Jefferson National, as well as in qualified benefit plans, to actively manage them for our clients. Now not only are we growing the assets with our investment program, but we can see that our clients are growing the assets with their contributions and their employer contributions as well.”

Moore refers to ByAllAccounts and Jefferson National as he concludes: “Partnering with a leading account aggregation service and the industry’s first Flat-Insurance Fee VA has been a big win for our firm—and a big win for our clients.”

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