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Client Case Study

MJP Wealth Advisors Streamlines Technology and Advances Robo Advisory Capabilities

 

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MJP Wealth Advisors is an award-winning, independent advisory firm based in Connecticut. Founded in 1981, MJP offers clients sophisticated investment solutions and personalized attention. The firm designs customized financial plans; including traditional, bespoke and alternative investment strategies, while delivering a high-touch client experience.

 

“We not only provide investment and wealth planning advice,” said Brian Vendig, President and Managing Executive of MJP, “but are also focused on each stage of a client’s journey from a life cycle perspective.”

“We made a commitment a long time ago that we wanted to go cloud-based with all our advisory technology partners - whether it is supporting the financial advice process or part of running our day-to-day business, all our technology must integrate and have functionalities that can scale as our business grows.”

 

Brian Vendig, President and Managing Executive of MJP

MJP is a technology-focused firm that uses technology to enhance their connectedness with clients. It serves as the key to connect MJP’s infrastructure and processes to the 21st century, while improving the entire team’s efficiency and effectiveness.

 

“We made a commitment a long time ago that we wanted to go cloud-based with all our advisory technology partners,” said Vendig. “Whether it is supporting the financial advice process or part of running our day-to-day business, all our technology must integrate and have functionalities that can scale as our business grows.” 

 

MJP began a search for cross-functional technology that integrates well with others while reducing the need for individuals to serve as a link from one business system to another.  They were searching for a solution that eliminated the potential for human error - a digital tool that fit all the parameters of their technology strategy. 

 

To deepen their technology focus, MJP and Vendig partnered with AdvisorEngine - a purpose-built, wealth management platform providing a modern experience. Vendig explains, "AdvisorEngine helped us meet a need where we wanted to have a technology tool that would facilitate onboarding clients right from our website or a mobile device.” 

 

AdvisorEngine’s platform also provides MJP with a “robo advising” technology platform, which they call “MJP Online Advisory Services.” This platform was exactly the smart automation MJP was looking for to grow their business by providing better, more convenient service for clients and advisors alike.

 

When asked about MJP’s relationship with AdvisorEngine, Vendig replied, “Partnering with the team at AdvisorEngine has helped us establish a contemporary technology offering; their solutions respond and adapt to changes in client behavior."

 

AdvisorEngine’s Implementation and Training teams went to work to ensure a smooth transition. They trained MJP’s employees to understand and appropriately use the technology solutions.

 

“They were very supportive in trying to set up technology that aligns with our organizational culture and business processes.” Vendig continued, “Plus the technology   works, there aren’t software bugs or patches that need to be added after implementation – you can use the software from day one.”