James Rockwood is the Founder and CEO of CapIntel, a wealth-tech start-up that’s pushing the industry towards holistic wealth management while supporting financial advisors in their day-to-day workflow to deliver top-tier client service.
In building CapIntel, James has been a part of two leading Canadian accelerator programs: Creative Destruction Lab (CDL) and Next Founder.
The CapIntel platform now serves over 12,000 financial advisors in Canada through partnerships with established financial service firms such as Mackenzie Capital, Middlefield, IG Wealth Management, and others.
James sat down with Fintech.ca this week to talk about holistic wealth management in Canada and how advisors can better use this strategy to help investors plan for brighter financial futures.
How is CapIntel standing out in the market in delivering digital solutions to advisors?
JR: CapIntel stands out as a leading financial technology company that improves fund analysis, proposal generation, and day-to-day workflow efficiency for financial services wholesalers and investment advisors. Our highly dynamic solution utilizes portfolio data analysis to generate proposals, models, and performance comparisons, enabling advisors to present data in a way that is digestible, educational and investor-friendly. We help advisors better understand client goals and communicate in a way that fosters long-lasting, trust-based professional relationships.
Today’s investors have expectations higher than ever before. They need more engagement, more transparency, and more holistic advice to feel confident in their financial future. We believe that the only way advisors can meet those demands is by delivering dynamic, personalized, and educational proposals that showcase their expertise and dedication to clients. Technology, like CapIntel, allows them to do so easily and efficiently, reducing time spent on administrative tasks and focusing instead on building strong customer relationships.
In fact, a recent internal survey reported 81% of investors agreeing that proposals directly influence investment-related decisions. And when using CapIntel, advisors could better present investment plans, which resulted in a 39.5% increase in sales. These numbers continue to promote a positive outlook for us as we’ve continued to onboard thousands of new advisors and asset managers over the past 18 months and integrated 90% of the licenses—a 400% increased adoption rate compared to similar solutions in the market.
What industry gaps are CapIntel addressing with its technology?
JR: One of the biggest challenges in the wealth management industry is the amount of time it takes for financial advisors to develop high-quality proposals that are tailored to the needs and goals of their clients. Financial advisors deserve—and need—time to develop strong relationships with their clients, gain an understanding of what they are trying to achieve, and ultimately provide sound advice that delivers results. CapIntel’s platform allows wealth professionals to efficiently manage the time-consuming aspects of their role, empowering them to focus on providing best-in-class, holistic wealth advice.
What is holistic wealth management and why do you think it is something that all financial advisors should be looking to prioritize with their clients now?
JR: Holistic wealth management takes into account all aspects of an investor’s financial life, including saving goals, spending priorities, budgeting for different life goals, family planning, retirement, and more. With the rise of digital technology and algorithms, we receive hyper-personalized service across most aspects of life: from television and music streaming to social media platforms, we have tailored experiences.
Investors now desire the same level of service with wealth management. They want to see you care about and understand their financial needs as a whole. Financial advisors need to prioritize holistic management with their clients now, because it’s what investors expect, and how you build their trust and confidence.
Why is now the time for advisors to lean on holistic wealth management?
JR: Now is an opportune time for advisors to embrace holistic wealth management as clients increasingly seek comprehensive financial solutions that go beyond traditional investment advice. A holistic approach positions an advisor as an industry leader who takes a client’s entire financial situation, including their financial goals, risk tolerance, and non-investment assets, such as real estate, business interests, and personal property, into account.
The shift towards holistic wealth management is driven by changing client expectations and the need for advisors to differentiate themselves in a competitive market. Clients want personalized, comprehensive advice that addresses their unique financial needs and goals, and a holistic approach supports advisors in offering this.
How do digital tools support financial advisors so that they can better advise their clients?
JR: Digital wealth management tools can help financial advisors cut down on time-consuming tasks while acting as a reliable resource for financial advisors. This allows financial advisors to easily access insights and data on investments and market trends that might be useful for investors.
What we’ve seen in the wealth management space so far is an uptick in adoption because these digital tools truly make the role more efficient, both from a time management and cost-savings perspective. As a result, financial advisors who have found success with these tools have also become more productive, being able to focus more of their attention on providing insightful, strategic financial guidance to investors.
Is there anything else you’d like to share?
JR: Given the current economic uncertainties causing Canadians a great deal of financial distress, digital innovation within the wealth management space is more important than ever before.
Through current and future partnerships with leading wealth management firms across North America, we aim to continue enhancing our platform and its capabilities to ensure that financial advisors who use our platform access modernized sales and advisory processes that will deliver impactful client experiences to investors.