Wealth Management Industry Consulting

Expert knowledge for consulting with wealth managers, financial advisors, RIAs, and financial planners.

Industry Overview

Market Segments

Segment	AUM	Key Needs
Solo RIA	<$50M	Efficiency, compliance
Small RIA	$50M-250M	Scaling, client experience
Mid-Size RIA	$250M-1B	Integration, team workflows
Large RIA/Enterprise	$1B+	Enterprise solutions, customization
Broker-Dealer	Varies	Compliance, supervision

Advisor Types

• RIA (Registered Investment Advisor) - Fiduciary, fee-only/fee-based
• IAR (Investment Advisor Representative) - Works under RIA
• Broker-Dealer Rep - Commission-based, suitability standard
• Hybrid - Both RIA and BD registration
• Financial Planner - CFP®, comprehensive planning focus

Common Pain Points

1. Client reporting - Manual report generation
2. Portfolio rebalancing - Time-consuming, error-prone
3. Client onboarding - Paper-heavy, slow
4. Data aggregation - Multiple custodians, accounts
5. Compliance documentation - Meeting notes, suitability
6. Prospect research - Pre-meeting preparation
7. Client communication - Consistent touchpoints

Wealth Management Software Ecosystem

Financial Planning Software

RightCapital

URL: https://www.rightcapital.com
Best for: Modern independent advisors
Key Features: Tax planning, student loans, interactive
Pricing: ~$125-250/month
Market Position: Fast-growing challenger

eMoney Advisor

Best for: Comprehensive planning
Key Features: Cash flow analysis, client portal
Pricing: ~$300-400/month
Market Position: Market leader (with MGP)

MoneyGuidePro

Best for: Goal-based planning
Key Features: User-friendly, Monte Carlo
Pricing: ~$150-300/month
Market Position: Market leader (with eMoney)

Orion Planning (HiddenLevers)

Best for: Orion users, scenario analysis
Key Features: Stress testing, risk analysis
Pricing: Bundled with Orion

Income Lab

Best for: Retirement income planning
Key Features: Withdrawal strategies, Social Security
Pricing: ~$150/month

Portfolio Management & Reporting

Orion

URL: https://orion.com
Best for: All-in-one solution
Key Features: Portfolio accounting, rebalancing, reporting, planning
AI Features: New AI assistants in 2026
Pricing: AUM-based, ~$5-15K/year minimum

Black Diamond

Best for: Enterprise RIAs
Key Features: Portfolio accounting, performance, client portal
Note: Morningstar Office migrating here (2026 sunset)
Pricing: Premium

Tamarac (Envestnet)

Best for: Mid-large firms
Key Features: Rebalancing, CRM integration
Pricing: AUM-based

Advyzon

URL: https://advyzon.com
Best for: Growing RIAs
Key Features: All-in-one: portfolio, CRM, planning, billing
Pricing: Competitive, ~$200/advisor/month

Addepar

Best for: Complex portfolios, family offices
Key Features: Multi-asset, alternatives, sophisticated reporting
Pricing: Premium

CRM for Financial Advisors

Wealthbox

URL: https://www.wealthbox.com
Best for: Modern, user-friendly
Key Features: Clean UI, workflows, integrations
Pricing: $45-75/user/month
Rating: #1 on G2

Redtail

Best for: Value, market standard
Key Features: Workflows, integrations, affordable
Pricing: $99/database/month (up to 15 users)
Market Position: Most widely used

Salesforce Financial Services Cloud

Best for: Enterprise, customization
Key Features: Unlimited customization, ecosystem
Pricing: Premium ($300+/user/month)

Practifi

Best for: Enterprise wealth management
Key Features: Built on Salesforce, pre-configured
Pricing: Premium

Custodians & Platforms

Major Custodians:

• Schwab (includes TD Ameritrade)
• Fidelity
• Pershing
• Altruist (modern, lower minimums)

Turnkey Asset Management (TAMP):

• AssetMark
• SEI
• Envestnet
• Orion Portfolio Solutions

Client Portal & Engagement

eMoney Portal - Aggregation, planning, vault Orion Portal - Performance, planning RightCapital Portal - Interactive planning Holistiplan - Tax planning visualization Knudge - Client engagement automation Pulse360 - Meeting prep and notes

Compliance & Documentation

Orion Compliance - Trade surveillance, reviews NRS (National Regulatory Services) - Compliance consulting SmartRIA - Compliance management RegEd - Training and compliance

AI Enablement for Wealth Managers

Claude Code Setup Package

Core Components:

1. Claude Code CLI installation
2. CRM integration (Wealthbox/Redtail API)
3. Market data MCP (Twelve Data)
4. Gmail/Calendar for scheduling
5. Custom advisory skills

MCP Servers for Wealth Management:

Essential:
- Plaid MCP (account aggregation)
- Gmail (client communication)
- Google Calendar (scheduling)
- Google Drive (document management)

Advanced:
- Twelve Data MCP (market data)
- Drivetrain MCP (financial analysis)
- Custom CRM integrations

Automation Opportunities

Client Report Generation

Pain: Hours creating quarterly reports
Solution: AI-generated narrative reports
Tools: Claude + portfolio data, custom templates
Savings: 80% report creation time

Meeting Preparation

Pain: Manual research before client meetings
Solution: Auto-generated meeting briefs
Tools: Claude + CRM + portfolio data
Savings: 30 min per meeting

Prospect Research

Pain: Time researching new prospects
Solution: AI-compiled prospect profiles
Tools: Claude + LinkedIn + web research
Savings: 45 min per prospect

Client Communication

Pain: Drafting emails, market updates
Solution: AI-drafted communications
Tools: Claude + Gmail MCP
Savings: 50% communication time

Compliance Documentation

Pain: Meeting notes, suitability documentation
Solution: AI-assisted note-taking and formatting
Tools: Claude + templates
Savings: 60% documentation time

Financial Plan Updates

Pain: Manual plan updates for life changes
Solution: AI-identified update triggers, draft changes
Tools: Claude + planning software exports
Savings: Varies by complexity

Service Packages for Wealth Managers

Starter Package — $1,500

For: Solo advisors, small RIAs
Includes:
- Claude Code setup
- Gmail/Calendar integration
- Market data access (Twelve Data)
- Basic workflow automation
- 2 hours training
- 1 week support

Deliverables:
- Configured AI environment
- 5 custom advisory prompts
- Meeting prep template
- Quick reference guide

Professional Package — $3,500

For: Growing RIAs (3-10 advisors)
Includes:
- Everything in Starter
- CRM integration assistance
- Client report automation
- Prospect research workflow
- Team training (up to 5)
- 2 weeks support
- Monthly check-in

Deliverables:
- Full AI-enabled workflow
- 15+ custom skills
- Report templates
- Process documentation

Enterprise Package — $7,500+

For: Mid-size+ RIAs, complex needs
Includes:
- Full assessment and planning
- Multi-platform integration
- Custom development
- Firm-wide training
- Compliance review
- Ongoing support
- Quarterly reviews

Custom scoping required

Wealth Management Workflows

Client Onboarding

WORKFLOW: New Client Onboarding

PRE-MEETING:
1. Prospect research compiled (AI)
2. Discovery questionnaire sent
3. Document checklist generated
4. Meeting agenda prepared

ONBOARDING:
1. IPS drafted based on discovery
2. Account paperwork generated
3. Risk assessment documented
4. Asset transfer initiated
5. Welcome packet sent
6. 30-day review scheduled

AUTOMATION:
- Auto-generated document requests
- E-signature integration
- CRM task creation
- Calendar scheduling

Quarterly Review Prep

WORKFLOW: Client Review Preparation

TRIGGERS:
- Calendar reminder (2 weeks before)
- CRM task

STEPS:
1. Pull portfolio performance data
2. Generate performance report
3. Compile market commentary
4. Review recent life events (CRM)
5. Check planning assumptions
6. Identify discussion topics
7. Draft meeting agenda
8. Prepare visual aids

AI ASSISTANCE:
- Auto-pull performance data
- Generate narrative commentary
- Flag planning updates needed
- Draft agenda based on template

Market Update Communication

WORKFLOW: Client Market Updates

TRIGGERS:
- Significant market event
- Scheduled (monthly/quarterly)

STEPS:
1. Assess market situation
2. Draft commentary (AI-assisted)
3. Personalize for client segments
4. Compliance review (if required)
5. Send via preferred channel
6. Log in CRM

TEMPLATES:
- Market volatility response
- Quarterly market recap
- Economic update
- Tax planning reminder

Prospect to Client Conversion

WORKFLOW: Sales Process

STAGE 1: PROSPECT
1. Research prospect (AI-compiled)
2. Initial outreach
3. Discovery call scheduled

STAGE 2: DISCOVERY
1. Meeting prep brief (AI)
2. Discovery meeting
3. Notes documented
4. Follow-up sent (AI-drafted)

STAGE 3: PROPOSAL
1. Financial plan drafted
2. IPS prepared
3. Proposal presentation
4. Objection handling

STAGE 4: CLOSE
1. Paperwork prepared
2. Accounts opened
3. Assets transferred
4. Onboarding initiated

Industry Knowledge

Regulatory Framework

SEC - Registered Investment Advisers
FINRA - Broker-dealers, registered reps
State regulators - Smaller RIAs (<$100M AUM)

KEY REGULATIONS:
- Investment Advisers Act of 1940
- Fiduciary duty (RIAs)
- Form ADV (disclosure)
- Regulation Best Interest (BDs)
- Custody Rule
- Books and Records Rule

Fee Structures

COMMON MODELS:
- AUM fee: 0.50% - 1.50% annually
- Flat fee: $2,000 - $10,000/year
- Hourly: $150 - $400/hour
- Subscription: $100 - $500/month

FEE COMPRESSION:
Industry trend toward lower AUM fees
Robo-advisors: 0.25% - 0.50%
Hybrid models increasingly common

Client Segments

MASS AFFLUENT: $100K - $1M investable
- Fee-sensitive
- Digital expectations
- Comprehensive planning needs

HIGH NET WORTH: $1M - $10M
- Complex needs
- Tax optimization
- Estate planning
- Multiple goals

ULTRA-HIGH NET WORTH: $10M+
- Family office services
- Alternative investments
- Multi-generational planning
- Philanthropy

Key Certifications

CFP® (Certified Financial Planner)
- Gold standard for planning
- Fiduciary requirement

CFA® (Chartered Financial Analyst)
- Investment management focus
- Rigorous, 3 exams

ChFC® (Chartered Financial Consultant)
- Similar to CFP, different path

CIMA® (Certified Investment Management Analyst)
- Portfolio management focus

CPA/PFS (Personal Financial Specialist)
- CPAs with planning specialty

Pitch to Wealth Managers

Discovery Questions

1. What's your current tech stack?
2. How do you prepare for client meetings?
3. How long does quarterly reporting take?
4. What's your client communication cadence?
5. How do you research prospects?
6. What would you do with 5 extra hours/week?
7. Have you explored AI tools yet?
8. What compliance concerns do you have?

Value Propositions

TIME SAVINGS:
"Advisors using AI save 8-10 hours/week on admin
tasks, freeing time for client relationships."

CLIENT EXPERIENCE:
"Faster response times, personalized communication,
proactive outreach - clients notice the difference."

COMPETITIVE EDGE:
"Next-gen clients expect tech-forward advisors.
AI-enabled firms win more younger clients."

CAPACITY:
"Serve 20% more clients without sacrificing
service quality or work-life balance."

CONSISTENCY:
"Every client gets the same thorough preparation,
documentation, and follow-through."

Objection Handling

"Compliance won't approve AI"
→ "Claude doesn't make investment decisions or
   access client accounts. It's a productivity tool
   like email or Word, just smarter."

"My clients want human advice"
→ "Absolutely - AI handles admin so you have MORE
   time for the human connection that matters."

"I'm not technical"
→ "That's why we handle all setup. You just talk
   to Claude like you'd talk to an assistant."

"What about data security?"
→ "Claude doesn't store conversations. Your client
   data stays in your existing secure systems."

"It's expensive"
→ "If you bill $200/hour and save 8 hours/week,
   that's $80K/year in recaptured capacity."

Market Data & Research Tools

Free/Low-Cost Data

Yahoo Finance - Basic quotes, news
Google Finance - Quotes, basic analysis
TradingView - Charts, community
Finviz - Screeners, visualization
Morningstar (free tier) - Basic fund data
FRED (St. Louis Fed) - Economic data

Professional Data

Bloomberg Terminal - $24K+/year
Refinitiv/LSEG - Enterprise
S&P Capital IQ - Research
Morningstar Direct - Fund analysis
FactSet - Analytics
YCharts - Visualization, research

MCP-Accessible Data

Twelve Data MCP - Real-time/historical prices
Plaid MCP - Account data, transactions
Alpha Vantage - Stock data API

Compliance Considerations

AI Usage Documentation

RECOMMENDED PRACTICES:
- Document AI tools in compliance manual
- Train staff on appropriate use
- Review AI outputs before client delivery
- Don't use AI for investment recommendations
- Keep human oversight on all communications
- Archive AI-assisted documents appropriately

Safe Use Cases

✓ Meeting preparation and research
✓ Drafting communications (human review)
✓ Report narrative generation
✓ Document summarization
✓ Administrative tasks
✓ Process documentation

Caution Areas

⚠ Investment recommendations (human decision)
⚠ Suitability determinations (human judgment)
⚠ Client-facing communications (human review)
⚠ Compliance filings (professional review)

Quick Commands

"Wealth management tools for [firm size]" → Tailored tool recommendations

"Automation opportunities for RIA" → Workflow assessment

"Pitch deck for financial advisor" → Sales materials

"Meeting prep for [client type]" → Preparation checklist

"Market update template" → Communication template