Skience, a leading wealth management services and solution provider, today announced the delivery of a new release of the firm’s award-winning wealth management platform that provides advanced technology capabilities that allow wealth management firms, financial advisors, and investors to collaborate more efficiently in a secure digital environment.
The Skience wealth management platform offers a streamlined, end-to-end client onboarding and new account opening experience, compliance features, and daily data aggregation from more than 200 sources. Powered by deep integrations with leading financial planning technology tools and all major clearing and custody platforms, Skience acts as a firm’s technology hub, uniting disparate technology systems within a CRM-based framework.
Leveraging the power of the platform’s nimble architecture, Skience 13.0 offers a new solution for regulatory compliance; advanced configuration capabilities; and enhancements that improve productivity for investors, advisors, and back office staff.
- Regulation Best Interest Solution. Skience delivers an automated digital workflow solution that enables firms and advisors to comply with the documentation and recurring delivery of the Client Relationship Summary forms mandated by Regulation Best Interest. With Skience, advisors can facilitate certified delivery of every disclosure electronically, or print the disclosure within the platform to deliver to the investor.
- Financial Account Record Configuration. Leveraging the nimbleness of the Skience platform, advanced configuration capabilities are now available for financial account records, enabling all available data from the custodian, clearing firm or annuity provider to be managed and displayed within the platform. With Skience, wealth management firms can make changes to a page layout within the platform at any time, without waiting for the next product release. Firms can add new fields from their data feeds, easily manage the visibility of fields to display important data within the platform, and create custom validation rules. This enhancement provides advisors with a holistic view of their client financial accounts and empowers a wealth management firm to produce a truly customized user experience, tailored to their business.
- API-Based Account Maintenance Updates. For select clearing firms, Skience enables advisors to update address, email, and phone numbers for financial accounts within the platform; these changes will automatically populate forms and send them to clients for electronic signature. Updates also can be configured for automated submission to a firm’s review process and, when approved, submitted straight through to the appropriate provider—all without manual effort.
- Editable Electronic Forms. Skience enables investors to add or edit information within certain fields as they review the new account opening forms during the e-signature process. This allows investors to transmit minor information updates to the advisor electronically, without disrupting the new account opening workflow, streamlining client onboarding and delivering an improved paperless client experience.
- Suitability Test Enhancements. Skience’s pre-built suitability tests are now available for all leading custodial and clearing firms. This enhancement improves the speed of implementation and allows for easier customization.
“We are excited about how our recent releases and unique architecture have enabled us to accelerate our innovation efforts,” said Sanjeev Kumar, CEO of Skience. “Our platform has evolved very quickly to offer solutions that are highly responsive to client needs for advanced digital capabilities and customization in a dynamic wealth management work environment. We will continue to push the boundaries of innovation in order to meet the needs of a predominately remote workforce for high levels of productivity and efficiency for firms, advisors, and investors alike.”