Communication is an essential element of the wealth manager and client relationship. Clients rely on wealth managers to deliver precise and insightful advice in a way that no robo-advisor can replace. However, keeping track of the best financial recommendations among constantly changing market conditions presents a significant challenge. These organizations need a way to stay competitive with self-service fin-tech solutions and leverage all of the data at their disposal to provide a superior level of client communication.
A global leader in wealth management uses Chorus to push targeted product recommendations to their 16,000 wealth manager worldwide. Their agile group of analysts and data scientists are able to build and tweak machine learning models that leverage market data, economic variables, stock prices and other important factors. The recommendations are then delivered directly to wealth advisors through their CRM platform so they can deliver the right communication to their clients at the right time, without needing to back and forth with data science and IT.
“When training financial services professionals, I’m often working with non-data scientists that have extremely solid quantitative analytic skills in tools like Excel. Once exposed to Chorus they get excited about the possibilities that an accessible data science platform provides. Suddenly they’re using that same quantitative reasoning to build random forest classifiers off of massive datasets that would bring Excel to its knees.”