ABOUT Financial Seminar Services  “We specialize in seminar mailings, targeted mailing lists, and digital advertising for financial and insurance professionals. We come from the business and understand how important your marketing campaigns are to you and your business’ success. “

WHAT ARE THE INTEGRATION POINTS BETWEEN FINANCIAL SEMINAR SERVICES AND REDTAIL CRM? 

Financial Seminar Services will regularly push comprehensive seminar information to Redtail CRM, enabling users to manage seminar details directly within the CRM and streamlining notes and task management.

DETAILS ON INTEGRATION SETUP AND USAGE Redtail’s documentation on this new integration is available here.

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ABOUT RingCentral  “RingCentral is a leading global provider of cloud-based business communications and collaboration solutions that seamlessly combine phone, messaging, video meetings, and contact center. RingCentral empowers customers with AI-powered conversation intelligence, which unlocks insights from interaction data to accelerate business outcomes. With decades of expertise in reliable and secure cloud communications, RingCentral has earned the trust of millions of customers and thousands of partners worldwide. Visit ringcentral.com to learn more.“

WHAT ARE THE INTEGRATION POINTS BETWEEN RINGCENTRAL AND REDTAIL CRM? 

The RingCentral Unified CRM extension for Redtail not only embeds a fully functional webphone into Redtail, making it easier to connect and communicate with customers and clients, but it also helps keeps Redtail and RingCentral in sync by automatically logging calls in Redtail, prompting agents for call disposition, adding notes, and more.

DETAILS ON INTEGRATION SETUP AND USAGE Redtail’s documentation on this new integration is available here.

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ABOUT Wealth.com  “Wealth.com is the industry’s leading estate planning platform. The ecosystem empowers financial advisors to provide a modern, comprehensive and sophisticated estate planning solution to their clients. Wealth.com’s in-house trust and estate attorneys have designed and maintained the platform to deliver the legal rigor and quality that is expected from top firms, all easily accessed by both advisor and client in a collaborative digital ecosystem. Wealth.com is optimized for, and available in, all 50 U.S. states and D.C.“

WHAT ARE THE INTEGRATION POINTS BETWEEN WEALTH.COM AND REDTAIL CRM? 

Once a user has connected the two platforms, Wealth.com-specific User Defined Fields will display on the Contact record in Redtail, and populate as clients use Wealth. Additionally, a number of actions taken in the Wealth.com platform will trigger the display of Wealth notes in the Client’s notes in Redtail CRM.

DETAILS ON INTEGRATION SETUP AND USAGE Redtail’s documentation on this new integration is available here.

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ABOUT Optivice  “Optivice is an all-in-one debt management solution for advisors. Get the full picture of your client’s outstanding debt accounts, and plan goals, refinance options, credit score enhancement, and a suite of related products, all in one place.“

WHAT ARE THE INTEGRATION POINTS BETWEEN OPTIVICE AND REDTAIL CRM? 

This is a two-way integration that enables advisors to import their Redtail contacts to Optivice and pull credit score information for those clients from Optivice to Redtail.

DETAILS ON INTEGRATION SETUP AND USAGE Redtail’s documentation on this new integration is available here.

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ABOUT CogniCor: “CogniCor is the industry-leading, Morgan Stanley-backed provider of AI assistants and business automation platform for the wealth management and insurance spaces. The woman-founded, Palo Alto-based fintech uses artificial intelligence to accelerate productivity, enhance efficiency and drive growth for highly regulated industries. Central to the firm’s offerings is CIRA, CogniCor’s scalable enterprise platform for deploying and managing AI-powered business automation to help wealth management and financial services firms drive client engagement and business efficiency.“

WHAT ARE THE INTEGRATION POINTS BETWEEN COGNICOR AND REDTAIL CRM? 

Here are some highlights of the CogniCor-Redtail integration:

• Scheduling Client Review Meetings — The AI Assistant can schedule meetings with an advisor’s consent and send invite to clients that are listed in the CRM.
• Generating Agenda for meetings using AI — Based on previous meeting notes stored in the CRM, the AI Assistant can generate Agenda points for meeting.
• Processing meeting notes and generating action items — AI assistant can capture meeting notes and extract action items and meeting insights. It will also trigger appropriate workflows if they are configured in Redtail.

DETAILS ON INTEGRATION SETUP AND USAGE Redtail’s documentation on this new integration is available here.

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ABOUT this webinar
Topic: Why Advisors Need to Have a Solution for Held-Away Cash

Description: Most RIAs have historically ignored the cash that clients have sitting in checking and savings accounts – yet high net worth individuals often hold 10-20% of their wealth in cash. Rising rates and recent events in the banking industry have driven home the need for RIAs to have a solution for held-away cash, from helping clients protect their safest asset to driving firm growth.

Flourish Cash is the only cash management solution built exclusively for independent advisors, serving 550+ RIAs that represent $1.5T in AUM. Join Ben Cruikshank, President of Flourish, to learn more about Flourish Cash, from how growth-oriented firms are using cash to grow their business to how integrations with systems like Redtail and Orion make it easy to integrate cash within your business.

Flourish Cash is a brokerage account offered by Flourish Financial LLC. Flourish Financial LLC is not a bank. Please visit flourish.com for more information.

Register now for this webinar on May 16 at 10:00 am Pacific.

You can also read a recent guest post from Ben Cruikshank, President of Flourish, here.

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Editor’s note: this guest post is from Ben Cruikshank, President of Flourish, who will be joining us for a webinar, “Why Advisors Need to Have a Solution for Held-Away Cash“, on May 16. You can register for that webinar, or access a recording post-event, here.

The benefits of bringing cash into your orbit

Recent turmoil in the banking industry has suddenly put cash — and FDIC coverage — in the spotlight. Historically, while independent RIAs pride themselves on helping clients with all aspects of their financial lives, many of them have not been taking cash, the simplest of asset classes, into consideration

It turns out that many advisors simply do not know how much cash their clients have in the bank.

In the past, many advisors have disregarded held-away cash because they didn’t think it comprised a major part of the client’s overall net worth. When we’ve asked advisors how much cash they think clients hold — cash that is kept outside the portfolio — they typically answer “1-2%.” However, research has shown that cash reserves tend to be significant, much to the surprise of advisors. The 2022 Capgemini World Wealth report shows that investors with at least $1 million in investable assets actually keep 20% or more of their wealth in cash.

Just take a look at data from Flourish Cash^[1] customers: Across 500+ RIAs that represent $1.5T in total end-client AUM, clients with a self-reported net worth of $1-2MM hold an average of $183,672 in Flourish Cash accounts, while clients with a self-reported net worth of $5-10MM hold an average of $363,831 in cash. Clearly, the cash is there.

“We believe fiduciary advisors will increasingly need to expand beyond investment management and provide both advice and solutions across all aspects of their clients financial lives,” said Flourish CEO Max Lane.

Held-away cash is a critical part of clients’ financial lives, serving as everything from an emergency fund to a resource for short-term liabilities such as a tax bill or a down payment for a house. And, as we discussed in a recent article, cash just makes people feel happier. Researchers at the National Science Foundation found that individuals who have more cash on hand feel more confident about their finances and ultimately more satisfied with their lives.

With this knowledge, we recognize that giving advisors visibility of cash reserves can help strengthen the client relationship in several ways: it enables them to provide more holistic financial planning, builds trust, and offers clients an improved service that gives them a higher yield and more FDIC coverage than the average savings account.^[2]

As advisors integrate cash into their firm, they have the opportunity to increase their level of service. Advisors can help their clients earn more with a competitive yield account, while bringing assets into their orbit, allowing advisors to incorporate cash in the overall financial plan and even convert some of those dollars into fee-only assets.

Learning based on feedback from advisors

Flourish Cash is available only to the clients of partner RIAs who extend invitations to their clients directly. Since advisors do not directly manage Flourish Cash accounts, we originally assumed that most advisors would simply want to send an invite and move on with their lives. But immediately after we launched, we received feedback from advisors that they wanted to do even more for their clients.

Based on feedback from advisors, we launched the ability for advisors to prefill client applications in early 2021, allowing advisors to make it even easier for clients to open accounts.As interest rates began to increase last year, usage of that feature increased. When looking at the data from 2022, we saw that advisors had pre-filled applications for over 20% of client accounts — and as advisors have sent thousands of invitations to Flourish in recent months, we realized we could do even more to help advisors by more deeply integrating Flourish Cash with the systems that advisors use every day, continuing to help connect the dots between the tools and tech advisors use everyday.

Launching the Redtail integration

According to a recent study, 85.7% of advisors use CRM integrations, which house critical client demographic data. Redtail tops the list, used by almost 33% of advisors in the independent RIA space.

We’re excited for the launch of an integration between Flourish and Redtail, which will make it easier than ever for advisors to support their clients by pre-filling applications using the data that advisors already have in CRM with just a few clients. The integration simplifies the process of opening a Flourish Cash account, helping to close the gap between advisors and held-away cash. Justin Burrow, Chief Operating Officer & Partner at Ryan Wealth Management commented on the integration: “We’re very pleased with how Redtail data is used within Flourish. The integration is extremely easy to use, and having our data easily accessible whenever necessary is ideal for our firm. It’s great to see Flourish continuing to innovate by prioritizing integrations with the systems we use every day.”^[3] Learn more about how to implement the integration.

^[1] A Flourish Cash account is a brokerage account offered by Flourish Financial LLC. Flourish Financial LLC is not a bank. The cash balance in a Flourish Cash account will be swept from the brokerage account to deposit account(s) at one or more third-party banks that have agreed to accept deposits from customers of Flourish Financial LLC (Program Banks). The accounts at Program Banks will pay a variable rate of interest.

^[2] The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including FDIC aggregate insurance coverage limits. FDIC insurance will not be provided until the funds arrive at the Program Bank. Our current Program Banks can be found here. For additional information regarding FDIC coverage, visit https://fdic.gov/ and https://www.flourish.com/advisors.

^[3] This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.

Join Redtail and Ben Cruikshank, President of Flourish, for a webinar, “Why Advisors Need to Have a Solution for Held-Away Cash“, on May 16. You can register for that webinar, or access a recording post-event, here.

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In May of 2023, our Building Your Tech Stack webinar series will focus on partners in the Advisor Tools and Financial Planning categories.

Advisor Tools

In a May 16th Building Your Tech Stack webinar with Flourish, we’ll be covering:

Why Advisors Need to Have a Solution for Held-Away Cash

Most RIAs have historically ignored the cash that clients have sitting in checking and savings accounts – yet high net worth individuals often hold 10-20% of their wealth in cash. Rising rates and recent events in the banking industry have driven home the need for RIAs to have a solution for held-away cash, from helping clients protect their safest asset to driving firm growth.

Flourish Cash is the only cash management solution built exclusively for independent advisors, serving 550+ RIAs that represent $1.5T in AUM. Join Ben Cruikshank, President of Flourish, to learn more about Flourish Cash, from how growth-oriented firms are using cash to grow their business to how integrations with systems like Redtail and Orion make it easy to integrate cash within your business.

Flourish Cash is a brokerage account offered by Flourish Financial LLC. Flourish Financial LLC is not a bank. Please visit flourish.com for more information.

Register now for this webinar on May 16th at 10:00 am Pacific.

Financial Planning

In a May 30th Building Your Tech Stack webinar with Income Lab, we’ll be covering:

Enhance Client Experience and Efficiency with Retirement Management Software

Register now for this webinar on May 30th at 10:00 am Pacific.

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ABOUT NextGen Bridge  “Every year, nearly 2.5 million identities of deceased Americans are used for fraudulent account activity and to open new services. This threat is known as “ghosting” and can have serious risk to your client’s financial assets, credit cards, tax returns, and driver’s license information. It’s a serious issue that can disrupt estate settlements for months – sometimes years.

NextGen Bridge, powered by ProtectHeir, is a self-service solution for executors that prevents the risk of estate fraud and deceased identity theft by making it easier for the executor to notify organizations of the passing of a loved one.

By auto-emailing the purchasing advisor the executor’s contact information executing the service, NextGen Bridge enables the advisor to then reach out and help the executor with other aspects of estate settlement such as setting up estate or heir accounts, giving the advisor the opportunity to retain those assets.

ProtectHeir, founded by credit industry executives with over 35 years of experience, is an innovator in fraud and identity theft prevention.“

WHAT ARE THE INTEGRATION POINTS BETWEEN NEXTGEN BRIDGE AND REDTAIL CRM? 

Client information from Redtail pre-populates information in NextGen Bridge at the time of fulfillment, making the job of the client’s executor both easier and quicker.

DETAILS ON INTEGRATION SETUP AND USAGE Redtail’s documentation on this new integration is available here.

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ABOUT this webinar
Topic: Redtail + Holistiplan = 2023 Year of Tax Planning

Description: Tax planning is quickly being added to the list of things clients expect their financial advisor to provide. Come hear how Holistiplan is simplifying the process of planning by providing advisors with a software solution that helps advisors save hours of their time by providing them with actionable observations about the client’s return and a way to model changes for the future.

Register now for this webinar on April 25 at 10:00 am Pacific.

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