By the end of 2017, the firm's 7,100 advisers will have access to "Connected Advisor" which will integrate with the independent broker-dealers other data tools. Interestingly, RJ has chosen to build its own automation tools rather than partner with one of the dozen providers of robo services.
The automated tools will come with advanced analytics to give advisers personal information about their clients, such as pointing out a child who may need college savings. It will even mine the voice and data communications, such as emails or social media exchanges, between advisers and clients to point out certain situations to advisers. “Sometimes when you have a conversation you can miss things,” Ms. Allaire said. The tool, for instance, might remind an adviser that the client mentioned they need some additional insurance or were looking to receive information about estate planning.