ashley, Author at Genivity
Genivity + Wealth Access Integration

Genivity + Wealth Access Integration

Genivity is excited to announce a new integration with Wealth Access’s customizable client portal. This integration will allow financial institutions to seamlessly offer our HALO Planner within their established Wealth Access digital user experiences so they can succeed in the new wealth management era.

Our interactive HALO assessment captures all the information you need on your clients’ health and longevity with minimal barriers to entry. AI and machine learning then personalize cost projections to each client’s unique lifestyle, health, and longevity outlook.  Wealth Access’ technology helps institutions stay compliant for Reg BI and provide an enhanced client experience built on leading-edge technology solutions that deepen client relationships.

When asked about the future of this relationship, our CEO, Heather Holmes, said: “Deepening client relationships is the way of the future. The integration between Wealth Access and Genivity provides a competitive edge to firms that are getting on board with this now that will create a lasting advantage and help their clients improve their financial wellness.”

One of our clients, INTRUST Bank, has been using the HALO Planner integration within their fully branded digital hub from Wealth Access to increase adoption and establish a deeper knowledge base for their clients. The results allow them to better serve their clients by offering a holistic look at future financial needs and goals.

“Consumers are no longer satisfied with banks that don’t lead with digital capabilities. Clients become committed enthusiasts of a brand because of the online experience,” says David Benskin, CEO of Wealth Access. “Putting the HALO Planner in our comprehensive digital hub allows banks like INTRUST to offer modern tools that build confidence and loyalty through a delightful experience.”

“Genivity HALO allows our advisors to deepen their client relationships. Having it available in their existing Wealth Access dashboards now allows them to improve the overall client experience, start to finish,” says Bill Martin, the Chief Investment Officer at INTRUST Bank.

The integration is available now to all existing Wealth Access and Genivity customers.

What your clients need to know about sustainable retirement income

What your clients need to know about sustainable retirement income

As a financial advisor you know that Social Security likely won’t cut it in the future. The political situation around the long-standing pool of money is anything but stable and the cost of living and healthcare keeps going up. This likely is a very real, very stressful aspect of retirement that your clients are facing— even for the affluent.

The most imposing part of this challenge is that most people who are approaching retirement age who have a retirement plan think they’re set up for their lifestyle into their retirement years. But one question that continues to go unanswered for many is, “how will I create lasting, sustainable income in retirement?”

Starting the Conversation

If you’re an advisor, you may recognize this but have clients who are convinced they will be ok and they don’t want to talk about it any further— especially when it involves their health.

One solution that many retirees have found is that they can take a part-time job or only partially retire to supplement their income. If your clients think they’ll be able to continue to work, it’s important to have the conversation about their health early, because chronic illness can derail otherwise solid planning.

What is Sustainable Income?

In an interview with Barrons, Nobel-prize winning economist William Sharpe tried to give some insight into what sustainable retirement income would look like. One of the more interesting strategies he illuminates is “buckets” of annuities and investment for each year of retirement instead of drawing a fixed percent from a single large investment.

However, he does warn that navigating a complex situation like retirement income might be more than the average retiree is willing to handle. This, obviously, is where you come in. There is no right or wrong way to handle the flow of money in retirement, except to make sure that there is enough to align with the desires of your clients.

Annuities and investments can be overwhelming even to financial advisors at times. Helping to create income retirement that your clients can count on is what they’re relying on you to do. Likewise, it’s what can make the difference between (hopefully) a relaxing and joyful retirement and a stressful, penny-pinching one.

It’s important to keep in mind that not every client will keep you on indefinitely either. They may seek your services only to help create their plan and then manage it on their own. While it’s never fun to lose a client, these people can help hone your skill set of creating lasting retirement income for future advisees.

Beyond Income

Discussing sustainable retirement income with clients can’t happen without a discussion about long-term care and health care costs. Michael Valdez, CFP®, AIF, CLU, from Synergy Wealth Alliance says that a conversation with clients about “wealth preservation is also about who they are and what they want to do with their life— their big-picture purpose.”

Valdez also believes that wealth preservation and retirement income comes down to early planning and leveraging available tax-advantaged funds. Rather than pulling from planned income to pay for long-term care or other health care expenses, early planning and asset reviews can ensure clients have a steady income for the entirety of their remaining lifespan.

There’s a lot of uncertainty in the world today, markets that go up must come down and any time your clients are reliant on government programs for income could spell trouble. Be aware of those clients that are approaching their retirement years and be sure to have a real, transparent conversation about how they plan to fund their retirement regardless of the uncertainties.

Genivity Selected by Two MassChallenge Enterprise Partners for 2020 Cohort

Genivity Selected by Two MassChallenge Enterprise Partners for 2020 Cohort

We’re proud to announce that Genivity has been selected to participate in the MassChallenge as part of the 2020 FinTech cohort. Genivity was recognized for their industry-changing innovation out of hundreds of fintech companies.. Through a unique reverse pitch and match-making process, MassChallenge Fintech accelerates outcomes-driven partnerships between fintechs and enterprises to fuel innovation and is dedicated to transforming financial services through a results-focused, collaborative model.

Two marquee enterprises made offers to Genivity and we are thrilled at the opportunity to work closely with them both. Both partner organizations are household names, however because of confidentiality requirements we aren’t able to share their names (just yet).  

The partner enterprises pitched their top business challenges and selected Genivity because of the strength of our value proposition and proven success in helping financial advisors maximize wealth assets and create stickier client relationships through financial wellness.

“With over 300 applicants globally from 22 countries and 32 states, each MCFT20 Finalist is a stand-out company and we look forward to helping them achieve future growth through enterprise partnerships,” said Devon Sherman, Managing Director of MassChallenge FinTech.

The Genivity team would like to thank MassChallenge for selecting us for this unique opportunity. We look forward to working with MassChallenge and our selected enterprise partners to use the opportunities offered to us to accelerate our mission and put our solution in the hands of those who can use the Genivity HALO Planner to make a difference for their clients. 

Genivity also extends our deepest gratitude to you. Your support has allowed us to continually pursue improvement for our solutions to help you deepen your client relationships. 

Genivity Wins UBS Future of Finance Competition

Genivity Wins UBS Future of Finance Competition

The entire team at Genivity was thrilled to be chosen as a winner of the UBS Future of Finance challenge. Genivity received recognition in the “Deepening Client Relationships” category. 

UBS Challenge
UBS put out the call to “…start-ups and established, growing companies that think they can change the way finance works and how banks meet their clients’ needs – delivered this year in collaboration with Deloitte and 100% Open.” Genivity knew that this call to action fit our mission statement and we’re excited to see the fruits of our labor. 

Upon receiving recognition as a winner, Genivity’s founder and CEO, Heather Holmes, had this to say:
“Our mission at Genivity is to help advisors have data-driven conversations about emotionally-complex planning topics with their clients focusing on longevity, health, and elder care. We are honored to be recognized by UBS and Deloitte.”

We think that Heather perfectly encapsulates what the entire team here at Genivity feels and has been working so hard to achieve.

The Team at Genivity would like to thank UBS for selecting us for this award. We look forward to working with UBS and using the prize money to accelerate our mission and put our tools in the hands of those who can use them to make a difference.

Genivity also extends our deepest gratitude to financial planners around the world who use our technology to add an extra layer of security to those looking to retire. In an unstable world of health care costs, we’re proud to find new ways to deepen client relationships, implement data driven decisions, grow assets and, ultimately, have your clients worry less.

The entire team is reinvigorated by this award and dedicated, more than ever, to delivering the best possible product for our customers and their clients. 

Thank you for your support of Genivity, now and in the future.


What Advisors Can Learn From Retailers

What Advisors Can Learn From Retailers

The media has been tireless in reporting on the new state of retail in the United States. Some call it a “retail apocalypse” others see it as an evolution of traditional brick and mortar. Whatever the hot take of the day is, one thing is for sure: retail is changing.

What does retail have to do with financial advising?

As an advisor, you should be focused on creating an engaging client experience. To that end, it’s good to ask yourself “what can I learn from the changing landscape of retail?” While retail and financial advisors work in very different segments, that doesn’t mean there’s no overlap. Retail successfully generates billions of dollars in sales every year and cements customer loyalty along the way. In the same way, building trust and loyalty with your clients is incredibly important.

The new push in the retail arena is “retail experience.” It’s no longer good enough to just set your wares out on a shelf and hope passing customers jump at the deals, they need to be invested in the shopping experience itself as soon as they set foot in the store.

The same thing rings true with your firm. What are you doing to make sure that your advisees have a great experience when talking about their financial future? You probably won’t be able to invest the same type of resources that a retail giant would, but you can scale appropriately.

Easy steps to building a great customer experience

Simple gestures like offering beverages or snacks to clients that sit down in your office go a long way. Likewise, taking clients out for lunch now and again (especially if they have sizeable investments with you) is a no-brainer. Even simply calling up and checking in on clients to see how they’re doing, allowing them to talk to you about their financial lives, can go a long way.

Allowing your clients to interact with you and their money in a way that they feel comfortable is a must. Whether that’s face-to-face, more or less digital, or somewhere in between, making sure that your clients feel heard and accommodated will build trust and give them the ultimate financial advising experience.

Try brainstorming some ideas to improve your customer experience, you’ll be happy you did and it might just be the investment you needed to take your firm to the next level.