CRM Wealth Management



The Wealth Management industry has become extremely competitive with the number of millionaires rising 10-15% within the United States each year for the past 5 years. The total number of U.S. millionaires came to nearly 4.7 million, thanks to low interest rates, tax relief and solid performances by small- and mid-cap stocks.

This major national bank recognized the need to change the way they manage their top relationships, requiring a universal view of the client and the complete set of relationships across multiple lines of business that included Private Banking, Brokerage, Investment Management and Trust divisions. They had to offer their clients a single point of contact with a senior relationship manager who had oversight of all of their activities.


Depending on the complexity of the client’s relationship with the bank, producers had to log onto several applications to obtain a full view of the client’s portfolio. Before being able to respond to a simple client inquiry, let alone develop a complete wealth plan, bankers were forced to spend hours gathering the necessary account information before doing the real work of determining an investment strategy for their client. They could not give a client comprehensive feedback on their accounts or status of pending orders without a complete investigation and hours of exploratory work. Something needed to be done to improve the efficiency of the bankers so that they could be freed up to do more valuable planning and advisory services for these high net worth clients.


The bank selected Princeton Information to implement a far-reaching solution that incorporated three areas of focus. At the heart of the program was a CRM initiative to support the sales force automation and contact management transformation components. Next, was the development of a sales portal that was used to consolidate and aggregate account and sales data from systems throughout the enterprise. It brought together account balances, client alerts, and sales tasks into one sales channel, which was deployed to 4,500 producers and support staff.

This was followed by a business process management study to help optimize the opening of new accounts stemming directly from sales opportunities that connected the front-end sales process directly to the custom credit application and underwriting process workflows to create a seamless straight through process from the front shop to the back office. The channel provided greater visibility between the front-end sales offices and the back office loan centers, optimizing their loan operations, including loan origination and approval process.


CRM, Financial Services, Wealth Management, Loan Origination & Underwriting, Oracle CRM