Jason talks to Louis Retief, Co-founder and CEO of Hubly. Hubly is an advisor workflow automation tool that helps take information from CRM’s and create actionable and easy to develop and implement workflows for advisors.
Episode Highlights:
- 1.41: New consumer financial products disrupt how people interact with their finances. But what we care about at Hubly is how this product innovation in new consumer products disrupts your professional service workers in financial services to serve their clients, says Louis.
- 9.23: As per Louis, tools providers in the advisory space think about the financial advisor as to the end-user, but advisors don’t use half the tech in their business.
- 14.44: Louis says that they have been trying to find where there is room for standardization across the advisory industry.
- 15.36: There is a massive bottleneck around the scheduling process of getting clients scheduled in for their review or check-in. The preparation component for those meetings and tracking all the follow-ups and the advisors’ promises.
- 19.29: Louis says that they see the CRM as the redundant compliant database for the client Ledger. So, they push activities back into the CRM to ensure they have that complaint history that is very important for regulators.
- 23.23: Louis explains that they are limited in their ability to develop best practices, so they are working towards a future where they can have user-generated content on best practices workflows.
- 24.09: We want to spotlight the back-office workers. There is a lot of focus on the advisor and many tech bills for the advisor. However, they are not the main users of any software in a product or a firm, says Louis
- 26.19: Our success is measured by how many more end-clients can access our advisors’ services, says Louis
3 Key Points
- In the financial advisory business, you provide one of the most complex services. Unfortunately, people don’t realize how complicated a service you are delivering to your clients, so we built a robust solution, says Louis.
- You built a workflow engine essentially to integrate with different CRMs, pull that data in, and build simple to create, implement, and manage workflows that help advisors run their practices, says Jason.
- Louis explains that they have already built a couple of things into Hubly, making the ongoing service component a lot easier in their workflows. A user can create a workflow rule called a recurring rule.
Tweetable Quotes
- “Hubly has many features that allow for personalization on a client level that CRM workflow technology does not qualify for.” - Louis Retief
- “Advisors want to have the one-ring version of the software, but no software package in the world is world-class at everything.” - Jason
- “We are very much focused from a cultural standpoint as a company. Focus on processes and workflows for our own business.” - Louis Retief
Resources Mentioned:
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