The MCS wealth management platform reduces cost by streamlining dozens of advisors’ tasks, elevates their client service to a new level, and helps advisors grow their practice by engaging, attracting, and converting prospects. “We have incorporated multiple tools within our platform that help advisors scale their business by engaging and onboarding new customers,” says Chuyan. The platform also includes the client portal where clients can log in to view a wealth of performance and risk characteristics of their portfolio and interact with their financial advisor.
Using a variety of tools such as the Risk Questionnaire and the Financial Goals, financial advisor can start a conversation with a prospective client who is then invited to create their account and log into the portal to access information typically available only to advisors. The entire workflow, from interacting with a prospect to opening the brokerage account (with some custodians) can be carried out without manual intervention from the advisor and saves the prospect time by single point of data entry.
MCS has grown into a stand-alone private-labeled wealth management platform, with its dedicated team and a compelling, intuitive, and integrated functionality
With such compelling functionality, Model Capital has seen great interest from wealth managers across the country. For example, an independent registered investment advisor (RIA) firm with offices in the Northeast that needed to automate portfolio management and other time-consuming tasks in order to focus on serving clients and was unhappy with the “bare-bones” functions available from its custodian contracted with Model Capital. Another Texas wealth manager who was breaking away from a broker-dealer and was looking for a platform to grow its advisory practice, also chose Model Capital’s solution over higher-priced competitors.
The MCS platform is very cost effective even for small independent RIAs, and scales well for larger wealth managers and broker-dealers. Model Capital is now focused on integrating additional custodians. “I invite any wealth manager who is considering implementing or changing their platform, to take a look at Model Capital, and I am confident that we will come out on top in terms of return on their investment,” concludes Chuyan.