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IPI Wealth Connect- Leading the wealth mangement industry
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Delivering Distributed Wealth Management SolutionsFinancial Services
George MurphyEngagement ManagerSalesforce.com
Brian ShensonDirector, Integrated PlatformCharles Schwab Advisor Services
Tim HighlandExecutive Vice PresidentIPI Wealth Management, Inc.
Safe HarborSafe harbor statement under the Private Securities Litigation Reform Act of 1995: This presentation may contain forward-looking statements that involve risks, uncertainties, and assumptions. If any such uncertainties materialize or if any of the assumptions proves incorrect, the results of salesforce.com, inc. could differ materially from the results expressed or implied by the forward-looking statements we make. All statements other than statements of historical fact could be deemed forward-looking, including any projections of subscriber growth, earnings, revenues, or other financial items and any statements regarding strategies or plans of management for future operations, statements of belief, any statements concerning new, planned, or upgraded services or technology developments and customer contracts or use of our services.
The risks and uncertainties referred to above include – but are not limited to – risks associated with developing and delivering new functionality for our service, our new business model, our past operating losses, possible fluctuations in our operating results and rate of growth, interruptions or delays in our Web hosting, breach of our security measures, the outcome of intellectual property and other litigation, risks associated with possible mergers and acquisitions, the immature market in which we operate, our relatively limited operating history, our ability to expand, retain, and motivate our employees and manage our growth, new releases of our service and successful customer deployment, our limited history reselling non-salesforce.com products, and utilization and selling to larger enterprise customers. Further information on potential factors that could affect the financial results of salesforce.com, inc. is included in our annual report on Form 10-K for the most recent fiscal year ended January 31, 2010. This documents and others are available on the SEC Filings section of the Investor Information section of our Web site.
Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase our services should make the purchase decisions based upon features that are currently available. Salesforce.com, inc. assumes no obligation and does not intend to update these forward-looking statements.
Agenda
Overview
– Wealth Management Industry Overview
Schwab
– RIA Technology Today
– Schwab Intelligent Integration™
– Schwab and Salesforce Relationship
– Schwab OneView Office™ Proof of Concept Demonstration
IPI
– Who is IPI?
– Overview of IPI’s Needs & Problems
• Compliance
• Communication
• Collaboration
– IPI Wealth Management Live Demonstration
Overview of Wealth Management Industry
George Murphy
Salesforce.com
Wealth Management – SegmentsEasily Recognizable Brands, by Targeted Assets & Industry Segment
Discount Brokerage
Discount Brokerage
Private Banking, Trusts, Family
Office
Private Banking, Trusts, Family
Office
Retail BrokerageRetail Brokerage
Wealth Management
Wealth Management
Registered Investment Advisors
Registered Investment Advisors
$
$
Targ
eted
Ass
ets
$$
Large Brokerages vs. Independent Broker-Dealers vs. RIAs
Wirehouse
Stock Exchange
Independent Broker/Dealers
Advisor
Clearing Firm
Stock Exchange
Advisor
Broker/ Dealer
Large Brokerage Firms
Custody Platform
Stock Exchange
RIA
Registered Investment Advisors (RIAs)
Large brokerage houses are able to clear or settle their own transactions with the stock exchanges. These firms are often called “Wirehouses” because they own their own infrastructure.
Independent “broker-dealers” are not associated with the large wirehouses. They must clear their stock trades with clearinghouses such as ADP Broker Services.
RIAs are commonly former Wirehouse or B/D Advisors that have started their own business, and use services from Charles Schwab, TDAmeritrade, or Fidelity, for Custody and trades clearing services. RIAs are the fastest growing part of the Brokerage industry.
Schwab Intelligent Integration™
Brian Shenson
Charles Schwab
Schwab Intelligent Integration is a set of products and services being developed and currently intended to be offered by Performance Technologies, Inc., (“PTI”) a subsidiary of The Charles Schwab Corporation and an affiliate of Schwab. Schwab Advisor Services™ includes the custody, trading and support services provided by Schwab, a broker-dealer, and the software and related technology solutions, including Schwab Intelligent Integration, provided by PTI. Independent investment advisors are not owned by, affiliated with or supervised by Schwab.
Agenda
RIA Technology Today
Schwab Intelligent Integration
Schwab and Salesforce Relationship
Schwab OneView Office Proof of Concept Demonstration
Selection or confirmation to participate in Schwab Intelligent Integration ("SII") should not be construed as an endorsement or recommendation by Schwab or PTI. When SII becomes available, participation will mean that the participating software, system or service has data flows and possibly other functionality that is more efficiently integrated with Schwab and PTI than would otherwise be the case.
RIA Technology has evolved over time …
…And adoption has increased with that evolution
Technology is critical for firms looking to scale
Portfolio management system
Client relationship management system (CRM)
Email retention software or service
Financial planning software
Document management system
Rebalancing software
Client website with secure access
Trade order management system
Critical To Business Time SavingsFirms Using System
Source: 2010 RIA Benchmarking Study from Charles Schwab, fielded February and March, 2010. Study contains self-reported data from 870 firms spanning 2006 – 2009.
Adoption Of Key TechnologiesPercent Of Firms, $100MM+ Wealth Managers
27%
48%
49%
77%
86%
93%
95%
73%
81%
61%
82%
80%
67%
92%
98%
78%
16%
7%
19%
12%
8%
15%
17%
15%
Integration is well rewarded
* Office integration means using at least two office integration functions: tracking workflows or task lists, plus integration into document management or portfolio management system.
Source: 2010 RIA Benchmarking Study from Charles Schwab, fielded February and March, 2010. Study contains self-reported data from 870 firms spanning 2006 – 2009.
Firms Using CRM for Office Integration*Percent Of $100MM+ Firms
Firms Using Basic CRM OnlyPercent Of $100MM+ Firms
75%
44%
Extremely or very satisfied
Saved more than 20% time
29%
10%
Extremely or very satisfied
Saved more than 20% time
Office integration is a key technology challenge
Top Technology and Operations Challenges $100MM+ Wealth Managers
Hiring staff to manage our technology or operations
Integrating technology with existing systems
Designing changes to workflow or process
Selecting the right vendor for a particular need
Measuring and tracking success
Getting my staff to use technology
Prioritizing technology or operations upgrades
18%
38%
39%
52%
55%
57%
58%
Source: 2010 RIA Benchmarking Study from Charles Schwab, fielded February and March, 2010. Study contains self-reported data from 870 firms spanning 2006 – 2009.
Our solution: Schwab Intelligent Integration
Guiding Principles
– CRM-Centered
Approach
– Intelligent Integration
– Modular and Turnkey
Platform Solutions
– Schwab Guidance and
Support
1 “Leading Technologies” are those that appeared most commonly in the responses of 1643 advisors who participated in an April 2010 Schwab survey.
Schwab and Salesforce Relationship
Leading edge solutions for independent financial advisors
Better choices to meet growing client management needs
Technology vetted, customized, and endorsed by Schwab
Integration benefits advisors regardless of implementation approach
• Integration with leading technologies in a range of key categories
• High quality integration• Direct-to-vendor relationship
Modular
• Integrated suite of Schwab selected applications – CRM, custody and portfolio management
• Unified experience• Integrated sales and support
Turnkey
Schwab Intelligent Integration
Your Configuration Schwab Configuration
Schwab OneView Office™ Schwab OpenView Gateway™
Salesforce proof-of-concept
Proof-of-concept integration and screen design are subject to change. Names, account numbers, account holdings, contact information, and all other information shown are fictional and not intended to reflect any actual person, account, or holdings. Any similarity to an existing person or account is purely coincidental. Screen shots are provided for illustrative purposes only and may be abridged.
Schwab OneView Office
Prototype Demonstration
Delivering the Gold Standard in Wealth
RIA Services
Timothy P. Highland
IPI Wealth Management, Inc.
Who is IPI?
Midwest based independent Hybrid BD/RIA Our Mission: Helping People Achieve Significance and Peace
of Mind
Our Core Competency: Delivering Client Focused Financial
Strategies
105 registered advisors in 45 branches in 16 states
Advisors are 1099 independent contractors licenses
with IPI - BD and IPI Management Wealth - RIA
Delivering "Gold Standard in Service" is our hallmark
IPI Technology Suite
IPI Needs & Problems
Compliance
– Multi clearing partners, Including: DST, RBC, Schwab,
TDAmeritrade, Fidelity
– Need for oversight of assets managed by IPI advisor:
• OSJ Review
• Custody Rules
• Universal Fiduciary Standard of Care– Suitability vs. Fiduciary
– Integration with paperless accounts set up and workflow
execution
– Online document storage and retrieval integrated into
Salesforce.com contact records
IPI Needs & Problems
Communication – Culture of “One Big Branch”
– Our Advisors share strategies and ideas in a
"family" environment
– Long hallways• Workspace
– Home office efficiency:• Soft phone
• Support portal
• Faster issue resolution
IPI Needs & Problems
Collaboration – Wealth Managers Collaboration
with Clients
– All assets managed by Advisor aggregated at
the client contact record level
– Daily Asset Value Flash Report
– Single Sign On (SSO) pass through to real time
performance reporting solution
– Future Functionality:• Client Portal through Salesforce.com: One
Solution for connecting advisors and their clients
IPI Wealth Management
Live Demonstration