FSI Delivers New Truelytics Business Intel Platform So Members Can Accurately Valuate and Grow Practices

September 20, 2017

Partnership Features Industry’s Most Advanced Software and Builds on Strong Success of FSI’s CoveredAdvisor Program

The Financial Services Institute today announced that it has formed a partnership with Truelytics, the only online self-service business intelligence platform that gives financial advisors the ability to truly understand and drive the value of their entire practice.

The partnership follows in the footsteps of the 2015 launch of FSI’s CoveredAdvisor program, which now provides insurance and affinity benefits to over 5,000 enrolled members. “While our top member benefit always will be advocacy, occasionally an outstanding opportunity such as CoveredAdvisor arises that is so beneficial to our members that we cannot let it pass by,” said FSI President and CEO Dale Brown, adding “Truelytics is clearly one of those opportunities.”

An outgrowth of FSI’s Marketing, Growth and Development Council’s belief that accurately determining and tracking fair market value is essential for the owners of all financial planning and wealth management firms, even owners who have no immediate plans to sell, the Truelytics partnership is aimed at ensuring that members have access to the most advanced, timely and cost-effective valuation and business intelligence software available.

“Truelytics will enable FSI members to analyze their operating and portfolio dynamics against key performance metrics, take objectively informed actions to optimize management efficiency, and deliver a better and more profitable client experience,” according to Truelytics CEO Terry Mullen.

With Truelytics, financial advisors and firms will be able to:

  • Harness the power of the industry’s top consultants packaged into technology they can easily utilize daily to build profitability and ultimately strengthen their negotiating position when they sell the business.
  • Take the guesswork out of determining market value – knowing the value of your business for sure in minutes, and constantly seeing the value impact of key practice moves and decisions.
  • Gain deep data-driven insight to identifying areas of opportunity and how they stack up to industry peers.
  • Save money while bypassing the need for expensive consultants with 21% off the annual rate for Truelytics available to all FSI financial advisor members. (FSI members pay only $850 instead of the regular $1,075 annual rate, saving $225 per year – well more than the $179 annual FSI individual member dues.) Plus, FSI firm members and OSJs who wish to accelerate their business growth by making data-driven decisions at scale, will have access to enterprise pricing options that include executive dashboards and benchmarking for all of their advisors.

Truelytics is unique in the marketplace and designed specifically for financial advisory and wealth management professionals from solo practitioners and small firms to large operations.

In addition to the valuation and management benefits, the timeliness of the FSI-Truelytics partnership is also critical in light of impending compliance with DOL’s Fiduciary Rule, slated to go into effect January 2018. Financial advisors – whether they are looking to sell their practices, acquire other practices, or simply improve and grow their practices – should seriously consider putting Truelytics in place prior to the upcoming industry change. And larger financial services firms will also benefit because owners and management will have real-time access to individual as well as aggregate data from their advisors using Truelytics.

For more detail on Truelytics and how the FSI-Truelytics partnership will impact advisors and firms click here.

About Truelytics: Truelytics is the only online self-service business intelligence platform for financial advisors and firms who want to optimally run, benchmark, and accurately value their business. Truelytics gives advisors and firms the ability to truly understand the value of their entire practice, analyze its operating and portfolio dynamics against key performance metrics, and take objectively informed actions to optimize management efficiency, and deliver a better and more profitable client experience. For more information, please visit truelytics.com.

About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.