How Sales Analytics Provides Insight into the Health of Your RIA

Posted by Andrea Collatz on May 21, 2013

Contributed by Tim Norton, Client Enhancements at Trust Company of America

How much do you really know about the health of your RIA?

A comprehensive sales analysis is one of the best ways to gain insight into the health of an RIA. Sales Analytics, Trust Company of America’s sales management platform, provides advisors with analysis capabilities at the account base, or analysis broken down by firm, representative, or account level.

Sales Analytics tracks a wide range of data for you, such as total active account value, active accounts, average and median account values, as well as new accounts, pending transfers, closing accounts, and even estimated income. Estimated income is optional and currently consists of a single-stepped fee schedule.

All of these data points are further broken down by time periods, and then by individual firms and representatives. The application allows drilling into a specific firm to view metrics for all reps with that firm, starting at the highest level which is Advisor Summary by Firm. Further, an individual representative can be drilled into to view the metrics and accounts under that representative.  

Accounts can also be broken down by qualified and non-qualified types.

An enhancement is in the works to improve the estimated income feature, using actual fee data on accounts, rather than requiring a single schedule to apply to all.

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