GaleForce - For Financial Services

Sendero Wealth Management Strengthens Client Relationships and Reduces Administration Costs with GaleForce CRM

Advisors access client information quickly and easily directly through Microsoft Outlook Improving Productivity and Effective Client Management

About Sendero

Sendero Wealth Management is an investment advisory firm for select high net worth individuals, families, and endowments. Based in San Antonio, Texas, Sendero Wealth Management offers customized investment strategies to help clients preserve and grow wealth responsibly. Their advisory services include asset allocation, manager selection and sophisticated investment oversight for clients with $5 million or more in assets.

Situation

In 2003, Sendero had outgrown their DOS-based client management tool and switched to Microsoft Outlook for managing client communication. Each advisor would set up an Inbox for each client and distribution lists for keeping internal and external portfolio managers informed of client activity. This solution was inefficient and caused client information to be scattered throughout the organization.

In order to run their business effectively Sendero they needed a central system for all client information.

CRM Needs

Sendero's CRM needs included:

• Easy access for advisors and customer service staff to all CRM functionality from Outlook or a Browser
• Intuitive system that is easy to use and learn
• The ability to build on the functionality of Microsoft Dynamics CRM for the specific needs of their industry
• The ability to configure the system for the existing advisor workflows without expensive and complex customizations

Solution

Sendero’s IT team evaluated several CRM systems throughout 2006. They considered Microsoft Dynamics CRM for its integration with Outlook. They realized that Dynamics did not address the unique requirements of their industry. They considered hiring a developer to customize the front end but were hesitant due to cost and risk. After seeing a demo, they selected GaleForce CRM for Wealth Management CRM. It had the power of Microsoft Dynamics with additional functionality they required to run their business effectively. Advisors use GaleForce CRM daily to monitor changes in a client’s portfolio, commu¬nicate changes in household members or money managers, or to assign a task to the admin team. Sendero staff also uses GaleForce CRM to track client communication and docu¬mentation.

"We're definitely pleased about choosing GaleForce. The success we've had with CRM couldn't have been possible without them. Their level of expertise – not only built into the software as it relates to wealth management – but also guiding us with installation, integration, and implementation, has been invaluable."

Lisa Kahn-Smith, Chief Compliance Officer, Sendero Wealth Management

Results

By deploying GaleForce CRM, Sendero has realized the following benefits:

• With all client information aggregated in GaleForce CRM advisors can quickly access a single system for a complete view of their client
• GaleForce allows Sendero to strengthen client relationships by enabling the advisory team to quickly access client’s aggregated financial accounts for full analysis of transac¬tion-based and cross-portfolio returns
• For regulatory purposes, Investment Policy Statements (IPSs) must be reviewed for each client at least once every three years. This review process can take considerable time. With GaleForce CRM, the time needed to review the IPSs was drastically reduced allowing Sendero to focus more time and effort on managing client relationships not dealing with administrative tasks
• With GaleForce CRM, Sendero was able to maintain their existing advisor workflows with minimal customization. In fact, many workflows were improved. For example, GaleForce CRM also allows Sendero staff to reduce the time it takes to relay information to a group of clients or to money managers that may be managing assets for a certain client
  "GaleForce offered us a powerful solution that worked with our current workflow – in fact, it made it better. Our team can stay within Microsoft Outlook if they want, or access GaleForce CRM information from Microsoft Internet Explorer."
  Lisa Kahn-Smith, Chief Compliance Officer, Sendero Wealth Management
• Implementing GaleForce CRM allowed Sendero to efficiently send reports, holiday cards, or gifts to their clients. In the past, these tasks were very manual, time-consuming and complex. GaleForce CRM allowed clients to be segmented and sorted cutting down the administration overhead to these tasks by half

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