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Boosting Efficiency and Client Experience: How Futureform Helped AlphaWealth Transform Operations with Salesforce

Introduction

AlphaWealth, a South African-based boutique wealth and investment firm, faced challenges in digitising their operations. With a previously implemented custom CRM that failed to meet their needs, they required a new Practice Management solution to streamline their operations and enhance the client experience.

Challenge

AlphaWealth encountered several challenges:

  • Ineffective CRM Implementation: Their previous CRM system was custom-built outside the Salesforce platform and didn’t meet expectations, creating inefficiencies in managing client relationships and services.
  • Manual Processes & Disconnected Systems: The existing CRM lacked integration, making it difficult to automate client services workflows and reporting, resulting in excessive manual efforts.
  • Growth Limitations: Without a robust CRM, AlphaWealth found it hard to track opportunities, manage client data effectively, and grow their business efficiently.

These issues limited AlphaWealth’s ability to scale operations, provide superior client service, and gain actionable insights from their data.

Solution

Futureform partnered with AlphaWealth to implement a tailored Salesforce Financial Services Cloud solution, addressing their key pain points and enhancing their wealth management processes. Key components of the solution included:

  • Client Portal
    Futureform created a secure client portal where AlphaWealth’s premier clients could access reports on their portfolio accounts, providing real-time updates and reducing manual communication efforts.
  • Onboarding and Compliance Tools
    The Salesforce solution streamlined client onboarding and compliance processes with automated workflows, helping the firm enforce requirements for wealth management and track necessary documentation seamlessly.
  • Opportunity and Lead Management
    By utilising Salesforce’s CRM capabilities, AlphaWealth could track opportunity and lead management, allowing them to determine win/loss ratios and conversion rates, leading to better business insights.
  • Portfolio and AUM Integration
    Futureform integrated AlphaWealth’s funds and accounts data into Salesforce, allowing for aggregated reporting and a clear view of assets under management (AUM) across all client portfolios.
  • Internal Performance Management
    The solution included tracking wealth managers’ performance and automating reports for management reviews and bonus determinations, reducing manual reporting efforts.

The Impact

The implementation of Salesforce by Futureform had a transformative effect on AlphaWealth’s operations, yielding significant improvements:

  • Increased Operational Efficiency: Automating key processes like reporting, client services, and portfolio management reduced time spent on manual tasks and streamlined team operations.
  • Improved Client Satisfaction: With the introduction of the client portal and real-time access to information, AlphaWealth enhanced their client experience, enabling faster, more transparent service.
  • Enhanced Data Insights: AlphaWealth could now measure key metrics like client conversion, win/loss ratios, and portfolio performance, providing insights that were previously inaccessible.

“We realised Salesforce is what we needed. They weren’t just demoing a CRM system, they were demonstrating how we can use the platform to grow our business and increase efficiency. Futureform’s transparent and collaborative approach helped us slim down processes and implement Salesforce much faster than we expected. In our meeting with Futureform, they seemed genuinely interested. It was a unanimous decision to go with Futureform at the end of the day.” — JP Louw, Head of Operations, AlphaWealth

Conclusion

Futureform’s partnership with AlphaWealth helped them transition from an ineffective CRM to a robust, scalable solution using Salesforce Financial Services Cloud. The new system not only improved operational efficiency by 20%, but also enhanced the client experience and provided AlphaWealth with the data they needed to support future growth.