BizEquity, an online provider of business valuation knowledge and big data, has launched its new dedicated Advisor Office subscription service for wealth managers, registered investment advisors and insurance advisors.
BizEquity Advisor Office will be launched and showcased simultaneously at the Envestnet Advisor Summit in Chicago and the inaugural eMoney Advisor summit in California.
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The market for existing offline financial advisory services has been challenged by ‘robo-advisors’ providing online portfolio management and insurance offerings.
To compete, wealth managers and insurance advisors are adopting new technologies to offer additional services such as business valuations and company performance analysis, which is the foundation of BizEquity’s offer and of the new service.
Advisor Office provides a dedicated platform that harnesses sophisticated algorithms and big data knowledge to help advisors gauge the risk profile of clients and assess whether they are underinsured or underfinanced.
The service also gives advisors new opportunities to begin conversations with potential clients.
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By GlobalDataThe Advisor Office service includes a range of new exclusive features and functionalities including: Private-labelled Cloud Service, prospector search and pre-value function, branded business report, online reporting dashboard and reporting console for each office and subscription pricing options.
For wealth managers with assets under management (AUM) of more than $100m, business owners account for 25% of all their clients. In the US, with 50% of all businesses underinsured and 40% of business owners without life insurance, insurance advisors can capitalise on enhanced business valuation knowledge.
BizEquity has already signed agreements with over 30 financial institutions, including Metro Bank US and Dynasty Financial Partners in New York.
BizEquity has been granted seven patents for its cloud based and big data enabled platform and currently has over 200,000 users of its platform.
BizEquity CEO Michael Carter commented: "We are delighted to announce the launch of our new ‘Advisor Office’ service, which will enable our business valuation knowledge to become more widely available to financial and insurance advisors as well as businesses. We have experienced great success working with our existing financial clients, to help them enhance their services and new business development and we hope Advisor Office will help us further expand."
