Save Your Time — and Your Sanity — with Event-Based Notifications

For financial advisors, all too often the enemy of providing a great client experience is efficiency, and vice versa. It’s difficult to carve out the time to provide clients with the personalized attention they expect — and deserve — without sacrificing other important components of your practice, like creating custom reports, managing successful portfolios, actively searching for new business, and so on. 

But client experience is king, and to sacrifice providing a remarkable one for back-end tasks could be a colossal mistake. According to PwC, one in three customers will walk away from a brand they love after a single bad experience. You can’t afford to take that chance. 

Luckily, there’s a way to both significantly streamline operations and provide custom, personalized attention to every client: it’s called Event Based Notifications.

Event-Based Notifications automate the creation and delivery of text and email communications. They can easily be customized, helping you curate a deeply personal relationship with every client. And because of the extensive list of notifications you can use to trigger Event Based Notifications (found below), they dramatically improve efficiency, freeing up your time and resources for other important tasks.

Portfolio Updates Critical Alerts Milestones
New Accounts RMD Welcome
MoneyGuide Probability Score Capital Call Schedule Birthday
Riskalyze Risk Score Distribution Schedule Anniversary
Management Style Change
Model Change
Market Value

If you’re not sold on EBN yet, let’s take a look at the time you’d save using the feature to create three different types of messages, compared to the time it would take to craft and send these messages manually. 

Happy Birthday – Every Client

While happy birthday messages have nothing to do with investments or portfolios, they do help build stronger client relationships by making each client feel valued and special. And that’s critical for retention, but imagine manually sending a happy birthday email or text to every single client; you’re talking about a lot of time and resources just to keep track of each birthday and set alerts so you don’t miss them.

How EBN helps: @tags in Event-Based Notifications pull information from Orion Connect, populating each individual clients’ name and setting the message to be triggered on the correct date.   

Using the Grouping Manager app makes this even easier by allowing you to create dynamic groups based on chosen filters that can be assigned to EBN templates. As new clients are added to your book of business, the group itself will update when the filter parameters are met. 

RMD Satisfied – Every Applicable Client

Satisfying the Required Minimum Distribution is a big deal for clients, who could face hefty IRS penalties for failing to withdraw the specified amount from their accounts each year. So letting applicable clients know they’ve satisfied that requirement is a great way to make them feel at ease and improve their peace of mind — which only further solidifies your value as an advisor.

But keeping track of each RMD and remembering to send those notifications, especially if you’re busy with other things, can be difficult. And if you forget, you’ll leave your clients feeling off balance — the opposite of the security you’re supposed to be providing.

How EBN helps: Within Grouping Manager, you can create a group consisting specifically of clients that must meet their RMD every year (that is, clients over 70 years old) and assign it to the RMD template. As new clients that meet those requirements are added, Grouping Manager will automatically add them to the group so you don’t have to. 

Additionally, @tags will populate the specific required withdrawal amount for each client, and when they reach that number, the notification will be triggered. All you’ll have to do is approve it. 

Portfolio Rebalance – Every Interested Client

Not all clients want to know the inner workings of their portfolios — but some do. High-net-worth investors in particular take an interest in exactly what’s happening with their money, and providing those nuanced details helps to increase their confidence in you as an advisor. 

But portfolios are rebalanced at least once a year — most likely, more often than that. Sending a detailed report about buying and selling assets each time you do it, not to mention keeping track of which clients want to receive that information, can become a full-time job itself. 

How EBN helps: First, you can create a group in Grouping Manager that specifically consists of clients who wish to be updated when their portfolios are rebalanced. And selecting Portfolio Rebalanced as the trigger in EBN automatically sets the message up to be queued when that action is taken — so you don’t need to remember to do it yourself.

Event-Based Notifications save your peace of mind by removing the burden of remembering which client gets which notification when. They also save you time. We’ve calculated the approximate times it would take to set up any of the above three notifications using EBN:

Time to create a client group in Grouping Manager: 3-5 minutes

Time to create the Event-Based Notification, assign the group, and fill in the body text: 10-15 minutes

Time to review daily messages to be sent out: Approximately 1 minute per message

 At most: 20 minutes up front and 1 minute per daily message being deployed

You, your firm, and your clients will benefit from the time, frustration, and resources Event-Based Notifications save you. And best of all, Event-Based Notifications are available at no additional cost to Orion clients.

Interested in more time, extra brain space, and better client relationships? Learn more about EBN by watching our on-demand webinar here.

Not working with Orion yet? Let’s talk about how Event-Based Notifications and a number of our other features can help you improve your business!