Mulvihill Wealth Management has elected to use Janna Contact Enterprise customer relationship management software to provide its asset managers with increased client information in one location.
Previously, asset managers at Mulvihill may have been forced to tap two or three different deposits of information to navigate a single customer interaction, but with Contact Enterprise that process should be streamlined considerably. "In the past, I would have to go run a separate performance measurement, I-d have to run their portfolio performance separately, and then I-d have to look on the transactions screen to try and figure out the buys and sells," says John Simpson, president of Mulvihill Wealth Management. "I can gather all of that in one system now."
With a high-net-worth client list (clients must invest at least $1 million) and total assets under management topping $360 million, Simpson says, cultivating a close and efficient relationship between client and asset manager is critical. The types of information aggregated in Janna-s Enterprise anticipates many of the questions that clients have, adds Simpson, making all interactions more fruitful.
Additionally, maintaining a central location for client data such as personal information, holdings, and trades--and details of all client-manager interactions--makes it much less difficult for other asset managers to assist an investor whose portfolio is not under their primary supervision.
The implementation of the Contact Enterprise system is being carried out by a Janna partner, Sailient Systems. According to Simpson, Bill Rourke, principal at Sailient, is familiar with Mulvihill because of his previous employment with Star Data Systems. Mulvihill currently uses the Star Data Portfolio Management System, which has been integrated with Janna Contact Enterprise. Rourke-s familiarity with Mulvihill-s systems and current relationship with Janna made the Contact Enterprise product a front-runner when Simpson went on the market to find a CRM solution.
Simpson says the software will be housed on Mulvihill servers in a combination ASP and purchase model. Janna is currently training Mulvihill employees on the Enterprise system. Simpson says that Mulvihill staff will be learning as they go, migrating and entering new customer information along the way.