Where Does Asendium Fit Into The AdviceTech Ecosystem?

A common question we often get asked is, “Where does Asendium fit into the AdviceTech ecosystem, and why have we decided to focus on Advice Creation over other areas of advice such as implementation, client onboarding or becoming a CRM?".

The simple answer is – Advice Creation is where the true pain point is. It is the reason why the cost of advice is where it currently is. 

To understand where Asendium fits into the AdviceTech ecosystem, we first need to break down the various areas of advice. We have identified 4 key areas of advice. These include:

  • CRM – Storing and managing client data.
  • Client Onboarding – From the first engagement with the client to the start of the Fact Finding process.
  • Advice Creation – From the Fact Find to Statement of Advice.
  • Implementation of Advice – From the Statement of Advice to the Implementation of the Recommendations.

Asendium sits within the Advice Creation space. All creation of Advice for new and existing clients can be done in Asendium. From the moment a client is ready to engage your services and they are ready to begin the Fact Finding journey through to an existing client that requires a new piece of advice to be completed.

Asendium is able to capture all the quantitative, qualitative and sentimental information from your client. Use Asendium from the Fact Find through to the Statement of Advice production, including for File Notes along every step of the way.

Once you have finished the Advice Creation with Asendium, use your Implementation software to implement your advice and store the advice documentation within your CRM.

At Asendium, our focus is to eliminate the fragmented systems and create a digitised advice creation process with our technology that encompasses key features required to create advice efficiently, affordably, simply. In line with our mission, Asendium’s first iteration targets the following areas of the AdviceTech landscape outlined by Netwealth‘s 2020 AdviceTech Report:

  • Fact Find and Risk Profiling Tool
  • Scaled Advice Technology
  • Cloud-Hosted Online Document File Storage and Sharing Technologies

We have also identified three key niche areas that are vital to the Advice Creation process, that are not displayed in the AdviceTech wheel. These technologies focus on the following niche areas:

  • Statements of Advice
  • File Notes
  • Strategy Papers (BID Documents or Working Papers)

All three of these areas are available and integrated in Asendium.

As we evolve our advice creation software, we will continually add more functionalities surrounding advice creation to create a seamless, integrated and efficient process for financial planning businesses and Licensees.

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