BizEquity, the world’s leading provider of cloud based business valuation and performance big data, today announces that it has signed a strategic partnership with Sawtooth Solutions (Sawtooth), a technology-focused wealth management platform.
The agreement will see BizEquity’s patented business valuation service being integrated as part of Sawtooth’s ‘wealth solutions’ platform, further strengthening the comprehensive and flexible platform that offers financial advisors an oversight for the entire wealth management process. Advisors using Sawtooth’s TAMP platform will now be able to very quickly provide wealth planning and investment advice by incorporating critical business assets owned or tied to a client with a realistic valuation of the business assets.
BizEquity’s ‘Advisor Office’ service harnesses sophisticated big data knowledge to help wealth managers and financial advisors better gauge the financial profile of clients. BizEquity’s ‘Advisor Office’ allows advisors to assess, for example, whether their clients are underinsured or underfinanced, and enhance their client offering by providing the most up to date company valuation data on their business.
Through the partnership, financial advisors and wealth managers will more effectively compete against increasing technological penetration and better position themselves ahead of next year’s new fiduciary rule issued by the Department of Labor (DOL).
Michael M. Carter, CEO of BizEquity, commented:
“With the advent of the new DOL fiduciary ruling and increasing pressures from robo-advisors, now more than ever the over 400,000 financial advisors in the U.S will need to arm themselves with more value added solutions for their clients. We are proud to work with Sawtooth to democratize the biggest prospecting and client retention data financial advisors and wealth managers could know.”
Brad Pries, CEO of Sawtooth, added:
“The wealth management sector is evolving at a rapid pace, faced with challenges from emerging technology such as robo-advisors and legislative changes including the DOL’s fiduciary regulations. Far from hampering the sector, this new environment offers significant growth opportunities for those financial advisors willing to embrace technology to offer comprehensive, integrated, holistic financial advice. We are excited to play a key role in the financial advisor’s evolution and are committed to continue enhancing our wealth management platform as demonstrated by our partnership with BizEquity, who are on a mission to democratise business valuation knowledge and help financial advisors enhance their service offering and prospect better in a digital age.”