(She receives no referral fee because she’s not securities-licensed clients pay for her services up front.) Both she and her clients appreciate the online statements and their visual presentation.
Invisor or advisor pro#
For the last three years, she’s referred clients to Nest Wealth Pro Lite, typically when they want greater fee transparency or online convenience.
Karen Richardson, a fee-only financial planner at Money Coaches Canada in Kenora, Ont., says online platforms are “a great tool” for client education. Clients typically pay 1% of AUM to Wealthsimple as Bornn’s referral fee, which covers his services. Before using Wealthsimple, Bornn’s firm offered nominee F-class mutual funds, so clients were already familiar with fee-for-service. “‘Did I make or lose money?’ That’s what clients want to know,” he adds.
Living la vida roboĪdam Bornn, a financial advisor at Parallel Wealth in Surrey, B.C., outsources his clients’ portfolios to Wealthsimple for Advisors.Ĭlients say, “This is way better,” says Bornn. That’s because those advisors report better client engagement, less compliance work and more time to focus on planning. In fact, Accenture research finds 58% of Canadian investors say advisors provide the best customized advice, while only 6% think a robot could offer customized advice.įar from losing clients to robo-advisors, human advisors are introducing clients to them. Disability and critical insurance are also available.įor more of Wealth Professional's latest industry news, click here.Research also shows investors prefer advisors for nuanced or complex situations, like wealth transfer after a death, tax optimization, decumulation and philanthropy.
Terms vary from 10 to 40 years, with up to $500,000 in coverage offered. Invisor also recently announced a partnership with Teachers Life Insurance to launch Invisor TermLife, a program under which users can buy life insurance online.
Invisor or advisor registration#
Depending on their needs and registration category, advisory firms can avail of Invisor CoPilot via a referral arrangement or as a completely white-labelled package. “The goal-planning tools we offer enable advisors to put their financial plans on their clients' dashboards so the client can track their journey towards those goals anytime, anywhere."Īdvisors who become partners through Invisor CoPilot can either send their clients an online invitation to get started or walk them through the process face to face. “We have already entered into agreements with some large advisory firms and will be rolling out Invisor CoPilot to more than 400 of their advisors in the coming months,” said Invisor CEO Pramod Udiaver. The platform also provides a paperless onboarding experience and a client-relationship-management dashboard.Īdvisors using Invisor CoPilot also have access to InvisorGPS, a goal-planning and tracking feature that includes an overview of the client’s financial position, an insurance needs analysis, and online access to insurance products.
Invisor CoPilot is a robo-platform that lets advisors offer clients low-cost portfolios of ETFs and mutual funds. Invisor has introduced a new platform for financial advisors who want to enhance their service.
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