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Offer Portfolio Stress Tests by Integrating HiddenLevers with FMG Suite

Success Stories, Website 0 Comments

david-mcphail-fmgsuiteOver the last few months, we’ve announced several new integrations for our marketing platform. By allowing the suite to access these innovative and powerful tools, we give advisors the opportunity to supercharge their marketing.

One of our new partners is HiddenLevers, the premier portfolio stress testing platform for financial advisors everywhere. 

We caught up with David McPhail, an independent advisor from Oxford Mississippi. He integrated HiddenLevers on his FMG Suite website and couldn’t wait to tell us about it.

How long have you been using HiddenLevers?

We’re pretty new to HiddenLevers, we dove in head first. Spent a lot of due diligence before we implemented it in our practice, but since it’s been pretty seamless. We’ve used it with a good number of our clients.

Why did you integrate HiddenLevers with your FMG Suite?

Like a lot of advisors, we focus more on risk than return. We saw it as a good tool to talk about risk management. HiddenLevers gave us another angle to have that conversation with our clients.

How are you using HiddenLevers?

One way is that we sent a risk questionnaire to our clients and that assigns them a risk tolerance, and we make sure that is consistent with their allocation currently and if not we have a deeper conversation to make sure they are allocated properly.

From a fiduciary standpoint, particularly with the new Department of Labor regulations, HiddenLevers strengthens the role of compliance we have in place with our clients. It also strengthens our role as a fiduciary for our clients. The tool lets you  relate potential real world events to the client’s investments and to their financial life.

When clients hear something on the news like an interest rate hike or Brexit or other economic events, HiddenLevers allows us to take one of those events and say ‘Hey! How would an interest rate hike REALLY affect your portfolio?” Once they understand that something is within their risk tolerance they already discussed with us, then it isn’t so scary for them. It allows clients to take a step back and look at the long term plan you have in place for them.

Have you used HiddenLevers for prospecting?

It’s great for portfolio management and client interaction, but it is also great for prospecting. It’s a new angle to come at prospects. Most advisors use the same tools but we can come in and say “Would you like a free stress test of your portfolio?”. It’s a whole different conversation you can have with prospects than we’ve been having in the industry.

How long have you been using FMG Suite and how has it been?

About a year. It’s been great. We love the website and its look. Setting it up was a fairly easy process. Being independent it became our business card, we could send them to the website to tell them what we are all about and to show them the tools we use like Wealth Vision and HiddenLevers. The app and the newsletter have been wonderful too. They give us a lot of additional touches with our clients.

Check out David’s website here and read more of our client success stories here.

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