Financial Advisor Edition Release Notes (May 2024)
For Canadian financial advisors who are looking for the ability to set targets and track the activities that will grow their book of business, Maximizer Financial Advisor Edition is designed for financial advisors to create a formula for success. Setting activity targets will define a winning strategy for advisory teams to follow, track, and optimize. For financial advisors looking to get a better view of their pipeline, the Accounts Viewer will help manage accounts with a customized process to track the sale of insurance policies, segregated funds, GICs, mortgages, group benefits, bonds, annuities, etc.
Maximizer Announces the Launch of Docusign Integration to Simplify Agreement Management
Docusign is a trusted document signing software, offering a secure and efficient solution for collecting approvals online in minutes, ultimately enhancing business productivity and ensuring compliance throughout the end-to-end agreement process.
Easily integrate with Docusign to manage your documents more efficiently within your Maximizer environment. Explore our comprehensive User Guide here to explore the benefits of this integration.
Plan Accordingly with Activity Tracker:
The Activity Tracker is a powerful new feature designed to help financial advisors stay organized and on top of their daily agenda. With the Activity Tracker, users can easily manage their tasks, appointments, and action plans, ensuring that no important action items fall through the cracks.
The Activity Tracker provides financial advisors with a centralized hub or an activity board for managing their day-to-day activities, empowering them to enhance productivity and deliver exceptional service to their clients.
Key functionalities of the Activity Tracker:
Easily navigate, assign, and track tasks for yourself and your team members. You can filter by:
Owner:
Interaction Type:
Interaction Category:
How do you add or update your Interaction Types/Categories?
You can do it by accessing the Administration menu then clicking on the Settings menu
Then, you can click expand the Interactions menu, click on Type and the window will open the configuration menu where you will be able to add, edit or remove interaction types.
Schedule client meetings, calls, and follow-ups
You can do this directly in the Activity Tracker by clicking on the card. This card will open the dialog which will allow you to create a new interaction.
Receive timely reminders for upcoming tasks and appointments, helping you stay on track and meet deadlines.
Keep a comprehensive log of all your interactions with clients, including notes, emails, and calls. Navigate through the calendar weeks by clicking on the left arrow, this will take you back 3 weeks and the right arrow will take you 3 weeks ahead. Quickly get back to the current week by clicking on the “This Week” button.
Stay Accountable by Setting Activity Targets
Targets is a game-changer for financial advisors, providing a structured framework for setting and monitoring activity goals. By defining clear targets for client interactions, appointments, and follow-ups, financial advisors can optimize their workflow and ensure that no opportunity is overlooked.
When creating a new target, you can specify its associated interaction type. Each user can have multiple targets in a fiscal year, each one associated with a different interaction type.
To create a target, click on the New Target blue button and the dialog will open. In this window you can choose the Owner, Fiscal Year, Interaction Type and Interaction Category. Provide read access or full access to your colleagues.
You can filter by fiscal year and user. It is very easy to edit and delete targets that have been set up.
To see the user, interaction type or interaction category, click and drag their respective column title and drop it into the header to group the totals by that column.
You can edit the target if you click on the pencil icon and delete the target if you click on the trash can icon.
Note: Information about tracking the results vs the targets set is available in the new FA Intelligence dashboard named Activity Report to accompany this module. See the FA Intelligence section below.
Manage Your Accounts with Accounts Viewer
Accounts Viewer is a powerful tool designed to provide financial advisors with a comprehensive overview of their clients' portfolios and financial assets. By centralizing account information and streamlining portfolio management processes, the Accounts Viewer module offers numerous benefits to financial advisors who manage a portfolio of assets.
We know that your firm offers a diverse range of financial products, including insurance policies, group benefits, segregated funds, GICs, mortgages, and more. Each of these products follows a unique process, with different stages and requirements along the way.
With the Accounts Viewer, financial advisors can customize their Kanban board to reflect these processes, creating tailored workflows for each product category.
This module will be populated with all the data points from the Accounts module, meaning that each card you see on this screen is an existing account in your CRM.
On the top dropdown list, you can select a process. In this case we’ll choose the Individual Insurance Process:
This will display all the accounts that are included in the Individual Insurance Process and the board will display each account in the corresponding stage:
You can filter by date; this date will be filtered by the Close Date field in the account.
You can also filter by revenue type.
Note: Remember that the revenue type is a field that you can configure in the Settings menu.
Then expand the Accounts menu, click on the System Fields menu and there you will find the Revenue type configuration page. In here you can create new revenue types which can be used to track different revenue streams from your company. In our example we are going to focus on Renewals.
Let's use Revenue Type = Renewals as an example, this will remove all accounts that are not associated with this revenue type to easily to find the cards in the Kanban board:
Using the board, we can drag and drop cards through the columns, acting at each stage as required by our firm's process. We can also assign them to a specific status:
- Lost
- Abandoned
- Managed Account
In this case, we successfully concluded the new insurance policy we have been working on, so now we can assign it as a Managed Account.
You can see all managed, lost and abandoned accounts in the board by clicking on the menu icon of the Kanban board:
Leverage FA Intelligence to Identify Growth Opportunities and Generate Reports
FA Intelligence revolutionizes the way financial professionals manage their business by providing four new dynamic dashboards, meticulously designed to offer actionable insights and efficiency. These dashboards, meticulously crafted to meet the unique needs of financial advisors, empower users with out-of-the-box analytics, and enable them to make informed decisions effectively.
With FA Intelligence, Maximizer CRM users gain access to comprehensive analytics and dashboards right at their fingertips, streamlining their workflow and enhancing their ability to drive success in the competitive world of wealth management. Here are the four dashboards:
- Activity Report: Gain insights into advisor productivity and client engagement to optimize time management and improve service quality.
- Account Management: Effectively manage your book of business and improve decision-making with a holistic view of client accounts, managed assets and financial positions.
- Contact Management: Effectively manage client relationships and communication by accessing comprehensive contact information and interaction history.
- Upcoming Reviews: Stay organized and prepared for client meetings by accessing a centralized overview of upcoming birthdays, KYC reviews, renewals, and expiries.
Get Insight into Advisor Productivity with Activity Report
Sample Dashboard:
Dashboard with widget identification:
Filters Requirements
- People Picker (Only Owners)
- Owner
- Date
- Interaction Types
- Interaction Categories
Widgets Requirements
Widget #1 – Total Activity Targets
- Widget Title: Total Activity Targets
- Header should be “blank”, to keep consistency with the existing indicators.
- Add to the “widget details”: Track and visualize the sum of the set targets for all activities, to ensure alignment and focus on achieving desired outcomes.
- It should display the sum of all “Target Interactions”.
Widget #2 – Total Activities
- Widget Title: Total Activities
- Header should be “blank”, to keep consistency with the existing indicators.
- Add to the “widget details”: Get an overview of the total number of completed activities, providing a clear snapshot of the sales reps’ productivity and engagement with prospects and customers.
- It should display the sum of all “Interactions”.
Widget #3 – Remaining Target
- Widget Title: Remaining Target
- Header should be “blank”, to keep consistency with the existing indicators.
- Add to the “widget details”: This indicator represents the remaining gap or amount needed to achieve the target, serving as a motivational tool and highlighting the work required to meet the goal.
- It should display the value of the (Sum of Activity Targets – Sum of Interactions [only include interactions that have targets created]) of the owner.
-
Example:
- John and Michael have Interactions Targets in the current year.
- John and Michael also have existing Interactions in the current year.
- If we use the table below as an example
Owner | Date | Interaction Type | Category | Interaction Count | Target | Target Category | Target Count |
John | January | N/A | 1 | N/A | 5 | ||
John | February | Chat | Cat 1 | 2 | Chat | Cat 1 | 5 |
John | March | Phone Call | Cat 2 | 3 | Phone Call | Cat 2 | 5 |
John | April | Cat 3 | 2 | Cat 3 | 5 | ||
John | May | Appointment | N/A | 5 | Appointment | N/A | 5 |
Michael | June | Cat 2 | 4 | Cat 2 | 5 | ||
Michael | July | Chat | N/A | 3 | Chat | N/A | 5 |
Michael | August | Phone Call | N/A | 2 | Phone Call | N/A | 5 |
Michael | September | Cat 1 | 1 | Cat 1 | 5 | ||
Michael | October | Appointment | Cat 3 | 0 | Appointment | Cat 3 | 5 |
Total | 23 | 50 |
-
We can say that the Remaining Target of John for this year, considering 5 months, will be:
- Sum of Target count – Sum Interaction Count = Remaining Target
- (25 – 13) = 12
- Remaining Target for John = 12
- If the remaining targets are lower than 0, we should not display negative numbers. We should display "remaining targets" = 0.
Widget #4 – Target Attainment
- Widget title: Target Attainment
- Header should be “blank”, to keep consistency with the existing indicators.
- Add to the “widget details”: Measure the extent to which the activity targets have been achieved, providing insights into the sales rep’s performance and their ability to meet or exceed the set objectives.
- This indicator will calculate the percentage of target attainment of an owner. In this case we need to consider the widgets “Total Activity Targets” and “Total Activities”.
- Filters the total amount for both Targets and Interactions.
- Matches the respective interaction type when doing "Target Attainment".
- Limits the "Remaining Targets" lowest value to zero.
-
Example:
- If we follow the example of John above, assuming that “This Year” is chosen in the date filter.
- If Activity Target = 25, that means it is 100%
- How much does the “Sum of John’s Activities = 13” represents in %
- (13 * 100 / 25) = 52%
- Target Attainment = 52%
Widget #5 - Activities vs Targets
In the image above, the target is defined by the red line and the activities in purple for a specific Leader. The user set targets for the 6 default system interactions: appointment, chat, email, phone call, SMS, and task - 1 for each month, meaning 12 per year.
Then we can see that the user has only made phone calls, SMS, and tasks. The other activities that the users have not created are not showing and are represented as 0.
Details:
- Widget Title: Activities vs. Targets
- Add to the “widget details”: The chart facilitates goal alignment and transparency within the team. It visually represents the collective effort of all sales reps towards achieving the set targets. It also helps managers and reps to track the progress of the team towards their activity targets over time.
-
Details:
- Create a Column Chart
- Categories: Add the Interaction_Type from the BI_Target_Activity
-
Values:
- Sum of the Activity_Count
- Name the label as “Number of Activities”
- Configure it as a “Column”
- Display missing values as 0 (zero)
-
COUNTUNIQUE of the Milestone_Number
- Name the label as “Activities Target”
- Configure it as a “Line”
- Display missing values as 0 (zero)
Widget #6 Activity Summary - Total Activities Over Time
Currently the widgets we provide to the users are only focused on the default interactions available for the users, but we are missing to show the newly created interaction types. Users can also create targets with these newly created interaction types. It is important to show users all the activities target they have created.
For that we are going to present the “Activity Summary - Total Activities Over Time”, a bar chart that shows the sum of all interactions.
Users can easily track and monitor the overall activity levels of each sales rep over time. The widget provides a visual representation of the total activities completed by each sales rep, allowing users to evaluate their performance and identify trends or patterns.
Details:
- Widget title: Activity Summary - Total Activities Over Time
- Add to the “widget details”: Users can easily track and monitor the overall activities of each sales rep over time. The widget provides a visual representation of the total activities completed by each sales rep, allowing users to evaluate their performance and identify trends or patterns.
-
Use a “Bar Chart” to create the widget using the BI_Timeline data.
- Categories: Activity_Type
- Values: SUM of all Interactions
- Enable the option of “Slie/Filter” in the widget configuration.
Widget #7 - Activity Distribution Radar
The Polar Widget offers a clear and concise visualization of the sales reps' activities in a graphical format. Users can quickly assess the distribution and balance of various activities performed by each sales rep, such as calls, emails, meetings, tasks, etc. and enable managers to identify top performers and those who may require coaching or support.
Details:
- Widget title: Activity Distribution Radar
- Add to the “widget details”: The widget helps sales managers and reps prioritize their activities effectively. By visualizing the distribution of activities, users can identify patterns and trends, allocate resources accordingly, and ensure that efforts are directed towards the most impactful activities that drive sales results.
-
Use a “Polar Chart” to create the widget.
- Categories: Use the Activity_Type from the BI_Timeline
- Values: Sum of all the Activities
- Break by: Owner_Name
Widget #8 - Leader Board
- Ensure that the “Owner” is configured to render in “Ascending” order.
Get an Overview of Your Book of Business with Account Management
The Account Management dashboard helps Financial Advisors keep track of their client's assets under management (AUM) and get actionable insights from their accounts.
This dashboard will have 11 widgets to help them track and monitor the most important KPIs:
Widget Title | Description | How it's Calculated | Formula |
Managed Accounts | Total number of accounts being managed | Count of managed accounts | COUNT(Accounts) & Status = "Won" |
Total Value of Managed Accounts | Total value of assets in managed accounts | Sum of the value of all managed accounts | SUM(Account Value) & Status = "Won" |
Accounts In Progress | Number of accounts currently being worked on | Count of accounts with status "In Progress" | COUNTIF(Account Status = "In Progress") |
Total Value of Accounts In Progress | Total value of assets in accounts being worked on | Sum of the value of accounts with status "In Progress" | SUM(Account Value WHERE Account Status = "In Progress") |
Book of Business | Total value of all accounts managed | Sum of the value of all managed accounts | SUM(Account Value) |
Funnel by Stage | Distribution of accounts by stage in the sales process | Count of accounts by stage | COUNTIF(Account Stage = "Stage") |
Accounts Value (%) by Account Manager | Percentage of total account value managed by each account manager | Total value managed by each manager divided by total value | (SUM(Account Value) by Manager / Total Account Value) * 100 |
Accounts Value by Account Manager | Total value of assets managed by each account manager | Sum of the value of accounts managed by each manager | SUM(Account Value) by Manager |
Accounts Value (%) by Product/Service | Percentage of total account value allocated to each product/service | Total value allocated to each product/service divided by total value | (SUM(Account Value) by Product/Service / Total Account Value) * 100 |
Accounts Value by Product/Service | Total value of assets allocated to each product/service | Sum of the value of accounts allocated to each product/service | SUM(Account Value) by Product/Service |
Accounts Overview | Summary overview of all accounts | NA | NA |
Oversee Client Relationships with Contact Management
The Contact Management dashboard provides Financial Advisors with a comprehensive overview of their client base and relationships, empowering them to efficiently manage interactions and deliver personalized services. Through a combination of key metrics and visualizations, advisors can track the number of companies/households and individual contacts, monitor new additions to their database, analyze segmentation trends, and assess the distribution of clients across different account managers and record types.
Value to Financial Advisors: This dashboard streamlines the contact management process for Financial Advisors, allowing them to:
- Gain Insights: Obtain a clear understanding of their client base size, growth trends, and composition, enabling better decision-making and resource allocation.
- Enhance Engagement: Identify new opportunities to engage with clients by tracking new company/household creations and individual contacts, ensuring timely follow-ups and relationship-building activities.
- Segmentation Analysis: Evaluate client segmentation patterns to tailor communication and service offerings based on specific client needs and preferences.
- Optimize Resource Allocation: Assess the distribution of clients across different account managers and record types to optimize resource allocation, identify areas for improvement, and ensure equitable workload distribution.
- Improve Client Service: Leverage insights from the dashboard to deliver personalized and targeted client interactions, ultimately enhancing client satisfaction and loyalty.
Widget Title | Description | How it's Calculated | Formula |
Total Companies/Households | Total number of companies or households in the database | Count of unique company/household records | COUNT(Companies/Households) |
Total Contacts | Total number of individual contacts associated with companies or households | Count of unique contact records | COUNT(Contacts) |
New Created Companies/Households | Number of new companies or households created within a specified time period | Count of new company/household records created | COUNT(New Companies/Households) |
New Created Contacts | Number of new individual contacts created within a specified time period | Count of new contact records created | COUNT(New Contacts) |
Companies/Individuals Managed by Account Manager (Pie Chart) | Distribution of companies or individuals managed by each account manager | Count of companies or individuals managed by each account manager | COUNT(Companies/Households) by Account Manager |
Companies/Individuals Managed by Account Manager (Column Chart) | Distribution of companies or individuals managed by each account manager | Count of companies or individuals managed by each account manager | COUNT(Companies/Households) by Account Manager |
Companies/Households by Segmentation (Pie Chart) | Distribution of companies or households by segmentation | Count of companies or households by segmentation | COUNT(Companies/Households) by Segmentation |
Companies/Households Segmentation by Account Manager (Column Chart) | Distribution of companies or households by segmentation and account manager | Count of companies or households by segmentation and account manager | COUNT(Companies/Households) by Segmentation by Account Manager |
Companies/Households by Record Type (Pie Chart) | Distribution of companies or households by record type | Count of companies or households by record type | COUNT(Companies/Households) by Record Type |
Companies/Households by Record Type (Column Chart) | Distribution of companies or households by record type | Count of companies or households by record type | COUNT(Companies/Households) by Record Type |
Companies/Households by Primary Advisor (Pivot Table) | Overview of companies or households with their primary advisors | List of companies or households with primary advisor assigned | Display Companies/Households with Primary Advisor information |
Get Prepared for Client Meetings with Upcoming Reviews
This dashboard will help Financial Advisors to be aware of the most important upcoming events, like:
- Upcoming Birthdays: Display and track client birthdays within various date ranges for personalized interactions and relationship management.
- KYC Reviews: Focus on tracking upcoming KYC reviews within specific date ranges to ensure regulatory compliance and client-centric service.
- Renewals and Expiries: Highlight upcoming renewals and expiries of various financial products for proactive management and client servicing.
All the widgets included in the dashboard are based on user-defined fields. Here are the fields used for reference:
UDF Folder | Name | Added To | Type | Type ID | Client ID | TAG | Map fields in Sisense |
Contact List | |||||||
\WM_KYC etc.\Personal | 65th Birthday Date | Companies / Households / Contacts | Formula | 372 | 7 | WME_KYCETC_PERSONAL_65THBIRTHDAY | BI_AbEntry_Udf_Alpha_1 |
\WM_KYC etc.\Personal | 71st Birthday Date | Companies / Households / Contacts | Formula | 450 | 7 | WME_KYCETC_PERSONAL_71STBIRTHDAY | BI_AbEntry_Udf_Alpha_2 |
\WM_Client Info\Review Schedule | Next KYC Review | Companies / Households / Contacts | Date | 3 | 7 | WME_CLIENTINFO_REV_NEXTKYC | BI_AbEntry_Udf_Date_1 |
Opportunities/Accounts: | |||||||
\Managed Segregated Funds | Maturity Date | Opportunities/Accounts | Date | 727 | 32768 | WME_MANAGEDSEGFUNDS_MATURITYDATE | BI_Opportunity_Udf_Date_1 |
\Managed Insurance Policies | Expiry Date | Opportunities/Accounts | Date | 705 | 32768 | WME_MANAGEDINSURANCE_EXPIRYDATE | BI_Opportunity_Udf_Date_2 |
\Managed Group Benefits | Renewal Date | Opportunities/Accounts | Date | 709 | 32768 | WME_MANAGEDGROUPINS_RENEWALDATE | BI_Opportunity_Udf_Date_3 |
\Managed Annuities | End Date | Opportunities/Accounts | Date | 704 | 32768 | WME_MANAGEDANNUITIES_ENDDATE | BI_Opportunity_Udf_Date_4 |
\Managed Bonds | GiC Expiry Date | Opportunities/Accounts | Date | 643 | 32768 | WME_MANAGEDGICS_EXPIRYDATE | BI_Opportunity_Udf_Date_5 |
\Managed Mortgages | Maturity Date | Opportunities/Accounts | Date | 681 | 32768 | WME_MANAGEDMORTGAGES_MATURITYDATE | BI_Opportunity_Udf_Date_6 |
The dashboard includes 11 widgets that are split into 2 main modules:
- Contact List
- Accounts
Filters:
-
People Picker: Show Account Managers
- The labels all should say Account Managers
- Account Manager: Show in this list Account Managers and Owners
- Date: Default to “This Year”
Widgets:
This list includes the details of each one of the widgets included in the dashboard:
Widget Name | Description | Calculation | Formula |
Upcoming 65th Birthday | Tracks clients who will turn 65 soon. | Count of clients with a birthday within the specified timeframe | Number of clients with birthday = COUNTIF(birthdays, "<date") |
Upcoming 71st Birthday | Tracks clients who will turn 71 soon. | Count of clients with a birthday within the specified timeframe | Number of clients with birthday = COUNTIF(birthdays, "<date") |
Total KYC Reviews | Sum of all KYC (Know Your Client) reviews conducted. | Total count of KYC reviews | Total count of KYC reviews = SUM(reviews) |
Upcoming KYC Reviews | Shows the number of KYC reviews scheduled for each month in a column chart format. | Count of KYC reviews scheduled for each month | Number of KYC reviews per month = COUNTIF(reviews, "<date") |
Managed Segregated Funds | Tracks upcoming maturity dates for managed segregated funds. | Count of managed segregated funds with upcoming maturity dates | Number of accounts with maturity date = COUNTIF(dates, "<date") |
Managed Mortgages | Tracks upcoming maturity dates for managed mortgages. | Count of managed mortgages with upcoming maturity dates | Number of accounts with maturity date = COUNTIF(dates, "<date") |
Group Benefits | Tracks upcoming renewal dates for group benefits. | Count of group benefits with upcoming renewal dates | Number of accounts with renewal date = COUNTIF(dates, "<date") |
Managed Insurance Policies | Tracks upcoming expiry dates for managed insurance policies. | Count of managed insurance policies with upcoming expiry dates | Number of accounts with expiry date = COUNTIF(dates, "<date") |
GIC – GiC Expiry Date | Tracks upcoming expiry dates for GIC (Guaranteed Investment Certificate). | Count of GICs with upcoming expiry dates | Number of accounts with expiry date = COUNTIF(dates, "<date") |
Annuities – End Date | Tracks upcoming end dates for annuities. | Count of annuities with upcoming end dates | Number of accounts with end date = COUNTIF(dates, "<date") |
Upcoming Renewals by Account Manager | Tracks upcoming renewals, categorized by account manager. | Count of upcoming renewals for each account manager | Number of accounts per account manager = COUNTIF(renewals, "<date") |