As customers age and a younger generation enters the market, financial advisors must adapt. What engages one generation doesn’t always connect with the next.
Carson Group, a financial services firm in Omaha, NE, recognized the need for a new customer dashboard to attract a younger generation and came to Aviture for support. After a discovery phase and initial review, Aviture revealed a significant amount of useful data within Carson’s systems that, once unlocked, would be immensely beneficial to customers and advisors alike. But most importantly, unlocking the data would enable Carson to scale.
We fast-tracked development of a client-facing application supported by an effective data warehouse. The application was met with considerable praise and exceeded Carson’s desired adoption rate.
After this success, Carson asked Aviture to support automating processes for onboarding new clients and building client-specific game plans. Through this partnership, Aviture has helped Carson cultivate a culture of innovation and continuous software delivery.
Build a “single pane of glass” client experience that increases accessibility to valuable data, encourages advisor engagement and unify disparate systems into one view.
Unlock the existing data to inform the development of a scalable, unified client-first solution.
A strategic method of data collection and storage, a revamped client experience, and an agile development culture that provides continuous software delivery to customers.
Aviture has really delivered for us. I’m happy with the progress we’ve made in developing our experience for the client and the advisor. We won a $68MM account because of Aviture.
As a wealth management firm, one of Carson Group’s main services is offering intelligence and decision support to their customers. This requires a thorough analysis of a significant amount of data.
Initially, Carson sought to update their client dashboard and user interface to encourage advisory engagement, particularly with new and younger users. As one generation ages out, another must step in. However, as technology changes, user engagement must also evolve.
Aviture was tasked with developing a user experience application, however, as our team worked through the discovery process, we recognized enormous potential in the data Carson had collected. By unlocking the power of this harvested data, we realized that we could develop an interface to meet the needs of Carson’s target customer personas, while also expanding Carson’s service and capability offerings.
In order to fully understand user pain points and identify potential solutions, we conducted interviews with each of the user personas, including external customers and internal stakeholders. Insights gained in this phase helped us intimately understand the wide range of user types and user needs – from perceived experts to those with little to no financial understanding – and build a solution that covers this wide spectrum.
We saw an opportunity to support Carson in becoming a process and data-driven organization focused on actionable intel. A major achievement in this endeavor was the creation of a data lake that stores data in its native format. By seeing how the data was originally used, we can better understand user behavior and identify ways that data can inform innovation.
In the two weeks following migration from the old platform to the new client experience platform, on average, Carson saw adoption numbers hovering around 50-75%, compared with only 10-13% on the old platform.
And now, with newly organized data, Carson advisors can use predictive analytics to anticipate customer behavior and offer preemptive solutions. This saves time, which allows advisors to work with a greater number of customers, while positioning Carson for scalable growth.
What’s more, Carson Group members are actively submitting feedback and suggestions, and Aviture continues to work with Carson to deliver customer-focused tools. This culture of innovation and continuous delivery will help Carson compete on a new level, with greater capacity and opportunity for growth and expansion.
It’s never too late to build a culture of innovation. First, let’s discuss your vision, then map the journey to get there.