Deepening Client Relationships in Financial Services

1 © 2015 NexJ Systems Inc. Confidential and Proprietary.

Your Investments – Current Plan Recommended Portfolio Based on Risk Tolerance

Deepening YourClient Relationships in Financial Services

Bryan Sachdeva, P.Eng PMPDirector, ProductsDecember 3, 2015


Customer Attitudes are Changing

According to Aite…the financial crisis has changed consumer investing preferences

Firms are Strongly Advised to Adjust Their Service Models

75%of customers expect companies to use their data to deliver a superior service


Reasons Clients Switch Advisors

7%

8%

11%

13%

15%

16%

18%

18%

22%

25%

25%

27%

29%

Advisor expects to leave my investment firm

Access to specific products

More product choice

As a result of switching investment firms

More advisory services

More knowledgeable about taxes and/or estate planning

Convenience (e.g. advisor physically closer to me, or able to talk over the phone)

More knowledgeable about retirement income distribution planning – creating sustainable income in retirement

Better ability to provide holistic financial planning serving all aspects of my financial life (investments, insurance, budgeting

etc.)

More frequent or proactive service

More focus on my needs

Higher quality advice

Better investment performance

Q. For which reasons do you expect to switch financial advisors in the next six months? ( (n=55)

Source: Aité Group

For which reasons do you expect to switch financial advisors in the next months?


Strategies for Effective Customer Management

A Complete Understanding of CustomersDeveloping an comprehensive customer view from disparate systems and data silos

Superior Service Across the Client LifecycleProviding consistent and proactive service using process automation throughout the client relationship lifecycle

Increased Advisor ProductivityEnabling advisors to spend more time focusing on deepening client relationships

Deepen Client Relationships


Strategy 1: It all starts with customer knowledge


Customer Data Landscape

Customer data is:▸ Growing explosively in volume and is increasingly

unstructured

▸ Increasingly siloed within the enterprise

▸ Available externally from social media, news and market feeds

Customer Portals Data WarehousesIntegrated Desktops Mobile Apps

Data Consumers include:

Data is Fragmented Across the Enterprise


What did they request on the web?

Who did they talk to recently?

What did they do last?

Data Siloes Destroy Customer Experience

Customer

Customers expect the firm to know them.

?

??

Understand the entire customer journey


Next Best Offer

Breaking Down Data Siloes

Streamline Compliance

ControlOperational Risk

ExpandProfitability

Strengthen Relationships

Deliver Better Customer Service

Comprehensive Customer View

Integrated Systems

Customer Data Management Platform


Comprehensive Customer View

Understand Customers Better & Gain Valuable Insight to Drive Better Sales & Service

A harmonized view of all customer data with consistent meaning for each field regardless of source system

Additional understanding from external streams of social data, market feeds and news are incorporated

Superior customer experience thanks to fast, reliable access to data through a service interface and a data cache

Must deliver value-added insight through context, behavior, sentiment


Strategy 2: Service the entire relationship lifecycle


Tactical Strategic

Client Relationship Lifecycle

Onboard Nurture Maximize

$


Service Across all Customer Life Stages & Events

Accumulate

LIFE

EVE

NTS

PRO

DU

CTS

& S

ERVI

CES

Pre-Retirement Post-Retirement

High School & College

Childhood

First Job

Starting a Family

First Home

Building a Career

RetirementPlanning

Aging Parents

Health & Wellness

Estate Succession

Credit Card

Debit Card

Car Loan

Mortgage

Life Insurance

Education Savings

Retirement Planning Services

Health & Wellness Advisory Services

Estate & Tax Planning

$

Financial Plan

Wealth Distribution

Estate Planning


Client News Recommendations

Derive tags from client and contact profiles:• Region• Interests• Products and

Services

Segment news and social information

Suggest opportunities for cross-sell

Recommend news articles of interest based on tags

Easily share a news article with the contact


Strategy 3: Increase advisor productivity


- PricewaterhouseCoopers, “Unprecedented Opportunities, Plan Your Approach: Global Private Banking/Wealth Management Survey 2007: Executive Summary.”

“One-third of RMs feel that they do not get sufficient time to adequately service clients”


What could your advisors dowith an extra 2 hours a week?

17 © 2015 NexJ Systems Inc. Confidential and Proprietary.© 2014 NexJ Systems Inc. Confidential and Proprietary.

Increasing Advisor Productivity

They did this by implementing a strategic CRM solution that: Brought all the tools they use into a single, unified integrated

desktop

Automated and simplified administrative workflows such as KYC and account opening processes

saved advisors 2 hours per week

AnnualProduction

Efficiency Gain

(Hrs/Yr)Gross per Hour

Gross/HrEfficiency

Gain

Reinvestment of 2 hours

Estimated Annual Benefit

750k 104 $608 $63,232 50% $31,616


Typical Advisor Desktop


After: The Integrated Advisor Desktop


Integrated Advisor Desktop

Perform complex searches to find & segment data

Model household relationships for navigation and data aggregation

View integrated Goals, Financial Accounts, Holdings and Transactions

Review key customer information

Access market data news and charts

Review complete interaction history


Streamline Client Onboarding & KYC Update

Use captured data to establish and enhance the CRM record

Prefill known information from the front and back office

When the last reviewer has approved the information, automatically update your records


Case Studies


Wells Fargo Advisors4th largest global wealth

management firm

$1.1T AUM

35,000 End-User Licenses

- Joe Nadreau, Director,Strategic Solutions Group,Wells Fargo Advisors

NexJ workedwith us as a strategicpartner, to provide the best possiblesolution in the shortest time.

“

”

Moved from account-centric to customer and household centered model by embedding NexJ CRM into Advisor platform

Integrated to 12 systems including custom security model, entitlements engine, 3rd party advisor platform, email, query and reporting tool

Integrated Advisor Desktop essential to retaining advisors, clients, and assets post-merger

Drive relevant, proactive touches based on a client’s profile, interests and holdings using Client Loyalty Program

Converted and aggregated data from multiple systems –12 million contacts and 100 million related interactions

Support FINRA through ability to record investment recommendations made to their clients

Protect Value of Merger


Large Canadian Bank6th largest global wealth

management firm

$435B AUM

5,100 End-User Licenses

NexJ killed every category [in a side by side competitive comparison]. This is the best run project at […] – ever.

“

”

Production pilot deployed in 3 months and under budget

Advisor efficiency increased by 2 hours per week; financial benefit of time saved = $31,616 per year (per top tier advisor)

In a side-by-side comparison, 88% of Advisors chose NexJ Systems over the competition

Integrated to 15 systems including portfolio management, entitlements, telephony systems, email and calendar

Attract & Retain Advisors

Integrated Advisor Desktop centralized customer details, interactions, and account information

Large Canadian

Bank


Vertical Market Solutions for

Wealth Management & Private Banking

Insurance

Corporate & Investment Banking

Committed to Your Success

Global wealth management firms are NexJ clients

4of thetop 6


Enterprise Solutions

Customer Relationship Management

(CRM)

Customer Process Management

(CPM)

Customer Data Management

(CDM)

▸ Integrated desktops for advisors, bankers & agents

▸ Omnichannel customer engagement

▸ Collaboration across products and regions

▸ Client onboarding

▸ KYC & AML

▸ Account planning

▸ New business application

▸ Enterprise customer view

▸ Customer insights

▸ Regulatory compliance

▸ Omnichannel customer Experience

Next Generation Customer Management


Why Customers Choose NexJ

Strategic PartnerIndustry Experts Technically Superior

Domain expertise and tailored solutions for vertical markets • Wealth Management &

Private Banking• Corporate & Commercial

Banking• Capital Markets• Insurance

Large-scale, global implementations

Designed to seamlessly integrate with existing enterprise systems

Rapidly tailored to unique and specific client needs

Scalable to tens of thousands of users

Responsive to our customer’s needs

Proven track record in partnering with industry leaders

Committed to our customer’s success

The choice of global market leaders

We Deliver Results


Questions?


Contact Us

: NXJ

www.nexj.com [email protected]

Connect with Us

Thank You

Deepening Client Relationships in Financial Services

Technology

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