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DALLAS: Dallas-based fintech Indyfin has entered into a strategic partnership with Mercer Advisors, one of the largest wealth management firms in the US with more than $46 billion in client assets. This partnership enables Mercer Advisors to leverage Indyfin’s platform to gather and measure client feedback and uncover how each of their financial advisors implements a financial and investment plan for their clients.
Indyfin's innovative investor experience platform redefines how consumers find, research, and connect with financial advisors. Financial advisors partner with Indyfin to gather feedback, ratings, and reviews, which help them to build credibility and trust online. By creating data-rich profiles, Indyfin enables accurate matching to new clients while offering investors transparency into what makes an advisor distinct.
According to Indyfin, 20% to more than 40% of clients of financial advisors respond to requests for feedback. By utilizing Indyfin’s proprietary technology, the resulting data will help Mercer Advisors develop and maintain the highest level of service for each client, as well as create and maintain public client ratings and reviews at Indyfin.com. This will allow prospective clients to easily research and match their needs with the right financial advisor.
Founder of Indyfin, Akshay Singh, said, "Historically, wealth management firms have been prohibited from using client endorsements, testimonials, and online reviews due to antiquated regulations. However, the SEC's new marketing rule enables forward-thinking firms like Mercer Advisors to tap into their most valuable asset - their current client relationships - to demonstrate their value proposition transparently."
Mercer Advisors’ reputation as a well-established and leading wealth management firm makes this partnership significant and demonstrates how some of the largest registered investment advisors are embracing regulatory changes in a responsible and compliant manner to help drive growth. By adopting new technology, Mercer Advisors is pioneering the use of client feedback and reviews and leveraging their most valuable asset to deliver the highest level of service to their clients.
“We are excited to partner with Indyfin and leverage their technology to help prospective clients find the right advisor for them. As a firm, we were already deeply committed to the idea of having a hand-picked, dedicated advisor matched to a client’s needs. The Indyfin platform is an extension of our own philosophy. Clients should have confidence knowing that their advisor is the right person for them, and not circumstantial,” said Gary Foodim, Chief Marketing Officer of Mercer Advisors.
According to Singh, " Financial advisors have started to focus on maximizing enterprise value of their practice as they think about their future exit or recapitalization of the business. Within that context, one of the first diligence metrics that any prospective investor asks for is Net Promoter Score. Indyfin's platform makes it easy for large and small firms to track NPS scores on an advisor-by-advisor basis".
NPS scores for firms on Indyfin's platform are well over 80 which is considered as excellent. "Our approach is data-driven. We are letting clients of advisors say who are the best advisors and matching those advisors with online prospects. This way we minimize our biases as we solve the client-advisor matchmaking puzzle."
