benjamin Releases New Industry Research on the Return on Investment (ROI) of an AI-driven Business Support System

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Powerful RIA technology solution delivers $65,000 per advisor in annual savings, dramatically leverages staff to increase capacity, while enhancing the client service experience

The return on investment (ROI) of an AI-driven BuSS for independent RIAs is quite dramatic, according to the report. Every year, RIA firms can save upwards of $65,000 per advisor through powerful operational and client service automation efficiencies.

benjamin, the only business support system driven by AI and specifically designed for the wealth management industry, announced today the release of a ground-breaking industry research report on the economic and human capital benefits that accrue by deploying an AI-driven Business Support System (BuSS).

The return on investment (ROI) of an AI-driven BuSS for independent RIAs is quite dramatic, according to the report. Every year, RIA firms can save upwards of $65,000 per advisor through powerful operational and client service automation efficiencies. In terms of staff leverage, an AI-driven BuSS can increase the capacity of firms based on size, ranging from 0.2 of a staff person for solo firms, to upwards of 10+ staff people for larger firms.

“Advisors have been telling us of the many benefits that benjamin’s AI-driven BuSS has been providing, so these dramatic ROI numbers the research has documented are not surprising,” said Matt Reiner, CEO of benjamin. “Our research and other industry studies have shown that roughly 40% of an advisor’s time is being spent on activities that can and should be automated. Thus, when those manual tasks are automated through an AI-driven BuSS like benjamin, the results can be transformational for firms to regain needed capacity, profitability and scale to continue to grow.”

As an AI-driven business support system, benjamin’s advanced design enables RIAs to automate much of the client journey from streamlining the prospecting process, simplifying onboarding, coordinating meeting scheduling and preparation, as well as ongoing client engagement and relationship management. The combination of these key features provides RIA firms with quantifiable and significant scalable benefits such as increased capacity, operational efficiencies, increased productivity and client service enhancements.

According to the report, “…On average RIA firms deploying AI-powered BuSS are saving thousands of hours of staff time every year through workflow automation, freeing them up to work on more client-focused activities, business development and strategic planning. When translated into hard-dollar cost savings those streamlined staff hours equate to hundreds of thousands of dollars every year, providing a significant ROI."

“It’s very gratifying to see the results and ROI that benjamin is delivering for RIA firms,” Reiner noted. “Advisors today need to make the most of their technology to continue to grow, compete and succeed in today’s much more complex and competitive operating environment; and we will continue to invest in benjamin to make it even more valuable and compelling to benefit advisors and their clients across the industry.”

To access the report, “The Technology ROI of an AI-Powered Business Support System,” log onto https://mailchi.mp/getbenjamin/uy8p302qmz

About benjamin

benjamin is the financial industry’s first ever business support system driven by AI which seamlessly integrates the software tools and data used by advisors and their teams to better service their clients. benjamin elegantly automates a myriad of time-consuming and menial yet imperative tasks, providing the advisor more time to foster value-added client relationships. The productivity gained by benjamin’s presence empowers firms to quickly scale their business and profitability. Originally created by a multi-billion dollar investment advisory firm, benjamin is now independent, and used by financial advisors nationwide to better serve both current and future families. For more information, visit http://www.Getbenjamin.com

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Timothy Welsh
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