Financial Advisors: Give Better Advice with inStream’s Alerts and Calculators

November 8, 2011

9:53 am

Financial planning tools may not be the stuff of riveting headlines, but they are vital to the welfare of scores of people who put their trust in advisors. And inStream Solutions, a client financial management platform in private beta, is now a vital tool for 200 firms/offices, representing almost 40,000 high-net-worth households and their $50 billion in assets.

Here’s how I, as a hypothetical financial advisor, would use inStream.

In the morning, I login and see a list of alerts: client A’s retirement plan has dropped to 70% probability, I need to follow up with client B, and I should check some news (pulled in from Google Alerts) that is relevant to client C’s investments. I can work on these tasks myself, assign some to other advisors in my firm, or ask their opinion. In resolving client issues, I can make recommendations for third-party financial services like mortgage providers. The platform is free for me, and these third parties pay inStream when my client uses their service.

Once I’m done managing the urgent alerts, I take a look at client D’s portfolio by running it through various calculators. This helps me recommend whether he should convert his IRA or refinance his mortgage – suggestions I can offer even before he asks.

After lunch, I decide to get a broader sense of trends in financial planning and how certain strategies are working, based on inStream’s aggregated data. All this is done in a clean, WordPress-like dashboard.

Founder Alex Murguia sees inStream as more dynamic and proactive than other industry solutions, like MoneyGuidePro. “Financial planning is reactive and very time consuming. It does not scale,” he says. Murguia is a managing principal at McLean Asset Management Corporation, which contributed to inStream’s initial funding round of $850,000. Based in DC, the startup was founded in 2010.

To learn more about how inStream Solutions works, stop by our Tech Cocktail DC mixer this Thursday.

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Kira M. Newman is a Tech Cocktail writer interested in the harsh reality of entrepreneurship, work-life balance, and psychology. She is the founder of The Year of Happy and has been traveling around the world interviewing entrepreneurs in Asia, Europe, and North America since 2011. Follow her @kiramnewman or contact kira@tech.co.

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