Truelytics, a B-to-B Enterprise SaaS company serving the wealth management industry, is inviting its independent broker-dealers, RIAs, and individual financial advisors to access the firm’s emergency continuity solution, TrueContinuity, free of charge to existing enterprise clients, and a greatly reduced rate to new clients, for the remainder of 2020 in response to the growing fears of the potential impact of the COVID-19 (coronavirus) outbreak.Truelytics Advisor Transition Management Platform: The first end-to-end data-driven system to help wealth management and insurance enterprises attract, grow, and retain advisory businesses while also reducing the costs related to transitions.
TrueContinuity: TrueContinuity is a secure emergency continuity vault where financial advisory firms can easily store designated continuity contacts, additional key contacts, documents, and tech stack information. Wealth Management enterprises utilize TrueContinuity as a best practice to ensure that firm’s dealing with an unplanned succession event has all of the tools they need to continue to service its customers.
“We know that executives at wealth management firms, financial advisors, and their clients are likely feeling quite anxious about the COVID-19 pandemic and we would like to help provide them with some greatly needed peace of mind during this turbulent time,” says Terry Mullen, CEO of Truelytics.
TrueContinuity, is designed to allow financial advisors to upload and store an emergency continuity plan (including key contacts, important documents, business processes, and detailed action steps) that can be automatically executed in the event of an untimely death, disability, or business disruption.
In such disaster recovery situations, the chaos, fear, and confusion for the advisor’s clients, family, and a wealth management firm’s team can often be overwhelming. TrueContinuity alleviates this burden by notifying the advisor’s emergency contacts and granting them access to important documents and processes necessary to ensure the business continues and clients remain in good hands.
With approximately 40 per cent of the financial advisor population in the United States now age 60 or older (a particularly high-risk demographic for COVID-19), TrueContinuity was created to serve a growing need expressed by industry leaders to have an automated, emergency continuity solution in place to address the increased risks associated with this aging demographic.
“While we certainly did not anticipate the COVID-19 outbreak when we first started working on TrueContinuity, we are incredibly grateful to have it ready in time to help firms provide their advisors with a sense of comfort and in turn, allow the advisors to pass that feeling on to their clients,” says Mullen.