Want to Integrate Robo-Platforms on Your Site? Read This First!

Robo-advising technologies are gaining more popularity and how to properly market them has become a question many financial advisors are wondering. Marketing robo-platforms is a sticky situation because you want to highlight the advantages of technology while also promoting your own value.

Here are four things to do before integrating a robo-platform onto your Advisor Launchpad site:

Understand the different types of robo-advising technology

Not all robos are made equal, and deciding which platform is best for your firm is the first step in implementing a strategy (this article from IRIS does a good job of laying out the basic types of robo-technology options). Here is a quick synopsis:

  • If you would like to remain in charge of your technology’s look and feel, you may consider building a robo-advisor front-end and use APIs to tie in an existing BD. This option will still need guidance from an IT team, but it is a less expensive option than building something from scratch.
  • For advisors looking for complete customization and maximum control, you can build a robo advisor from scratch. The cons of this option are that it is the most costly and will require professional help from an IT expert.
  • Integrate a third-party software into your website, such as Riskalyze and eMoney Advisor. This option gives advisors the least amount of customization options, but is also the easiest and the cheapest.

Choose the technology platform that is right for your firm

After understanding the basics, you should choose which robo-platform is best for you. Ask yourself what do you want to accomplish with this offering and what benefits it provides your clients. These are great questions to get you started in your search for the perfect robo.

Some of our favorites, and ones that can easily be integrated into Advisor Launchpad sites, include RiskalyzeeMoney AdvisorHiddenLeversNest Egg Guru, and Advizr.

Market your technology in a client-centric way

You may have been drawn to the robo-tech of your dreams because of its fancy bells and whistles, a long list of features, and the nitty gritty details of what makes it great. But when marketing the platform to your clients, put yourself in their shoes. At the end of the day, they might not care about what makes your tech the hottest on the market. They care about how it will benefit them and help them pursue their goals.

This is the position that the majority of your marketing materials should take – client-centric and focused on their needs. For example, eMoney provides clients the opportunity to see a living, breathing financial plan. There are plenty of features that you could list on your site, but simple is better and you only need to answer one question: how does this piece of technology help your clients?

Highlight the complementary relationship between human and computer

Many financial advisors struggle with marketing their robo-advisory services because they don’t want to devalue themselves. You may think “if I have a risk tolerance software on my site, why wouldn’t a client just use that?”

But on the contrary, having a robo-offering actually complements your firm. Then, your clients can enjoy the concierge, high-touch support of a human advisor and the efficiency of technology. When marketing this offering, highlight this advantage and how your financial advising clients can enjoy the best of both worlds.

The above are just a few ways to market robo-advisory strategies. What technologies do you use, and how do you market them?

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