A panel of independent brokers/advisors at SIFMA’s May 2008 conference in Chicago highlighted a key business concern. In many cases the BD/IA’s business is their largest single asset – bigger than their house or retirement fund.

This makes protecting it all the more important - such that the most preferential valuation can be achieved when it comes time to sell. Several anecdotes highlighted examples where a seller had done little to organize their books and records, making the process of demonstrating the businesses' value all the more difficult. Another concern was the threat of litigation from a disgruntled heir or relative. With little to no systematic documentation of the past client relationship, the advisor/rep has few quantifiable tools, data or evidence to demonstrate the effectiveness and relevance of advice given in the past.

Technology has reached a point where both of these key concerns can be addressed in large part. With E*Assist's master client record at its heart, any information or action relating to a specific client can be effortlessly appended to this master record. These data can include emails sent to or from the client, records of products sold (such as variable annuities) with the home office approval, past asset performance, scanned images of any documents such as wills, attestations or applications. The list is literally endless. Over time, E*Assist builds into an invaluable record of your client base. This can be easily passed over to the appropriate successor, helping to ensure a seamless transition and further demonstrating the professionalism of your franchise.

This also provides an opportunity for home office broker/dealers and investment advisory firms that are struggling to offer a differentiated solution set for their independent agents. There are few better ways to build demonstrable value of your agent’s business than a systematic record of their client servicing history. Offering a platform that helps the agents retain and grow their client base on a daily basis while quietly building an invaluable record of the business is both truly valuable and surprisingly rare!