SigFig Overview
SigFig is a cutting-edge platform that specializes in digital wealth management solutions, designed to transform how financial institutions connect with clients and achieve profitable growth.
Product Overview
SigFig’s product ecosystem is built around two primary components: Engage and Digital Advice Pro.
Engage Platform
The Engage platform is a collaborative digital tool that enhances the interaction between financial advisors and their clients. Here are its key features:
- AI-Powered Assistance: Engage uses artificial intelligence to analyze real-time conversations during client-advisor meetings, providing AI-driven smart tips, in-meeting prompts, and customizable recommendations to uncover new growth opportunities.
- Content and Workflow Automation: The platform proactively surfaces the right content, tools, paperwork, and workflows based on the discussion, reducing manual tasks and increasing efficiency.
- Automated Meeting Summaries: Engage generates automated transcripts, meeting summaries, and post-meeting notes, saving advisors time and ensuring accurate documentation.
- Structured Data Extraction: The platform automatically extracts and stores structured information, such as personal details or financial data, in a structured manner for easy access across different systems.
Digital Advice Pro
Digital Advice Pro modernizes the advisor-led managed accounts platform by integrating fragmented workflows. Here are its key features:
- Streamlined Onboarding: The platform connects directly into existing advisor CRM or workstations, allowing advisors to manage the entire onboarding process, including needs discovery, proposal generation, funding, fulfillment, and e-signature, without switching applications.
- Operational Efficiency: Digital Advice Pro reduces operational complexity by automating personalized communication and other routines like annual reviews, improving client conversion and wallet share capture.
- Cost Reduction and Compliance: Firms benefit from reduced costs of advisory programs while maintaining advice consistency and compliance.
Key Functionality
- Integration with Existing Systems: SigFig’s products integrate seamlessly with leading industry systems, driving efficiencies and enhancing collaborative digital experiences.
- Scalability and Profitability: By streamlining workflows, eliminating manual processes, and empowering advisors with AI capabilities, SigFig unlocks scalability and profitability for financial institutions.
- Client and Advisor Journeys: The platform streamlines both the advisor and client journeys, ensuring a seamless and efficient experience for all parties involved.
Additional Services
For individual investors, SigFig also offers:
- Free Portfolio Tracker: A service that allows users to monitor all their investments in one place, providing reporting dashboards and external portfolio analysis.
- Managed Accounts: With free management for accounts up to $10,000 and a 0.25% advisory fee thereafter, SigFig manages accounts with features like tax-loss harvesting and tax-optimized sales for taxable accounts.
Conclusion
In summary, SigFig is more than just a technology provider; it is a strategic partner committed to driving success for financial institutions by leveraging AI, streamlining workflows, and enhancing client-advisor interactions.