Financial advisors Ted Jenkin and Kile Lewis founded oXYGen Financial in Atlanta, Georgia after quitting their wirehouse gigs. Their aim was to help Gen X and Y investors, a demographic the industry had ignored.
But before opening their doors in 2008, Jenkin and Lewis decided to take a different approach to delivering financial advice: They would target X and Y generations with a digital client experience. It was a strategy designed to differentiate the company from other firms that were competing for Baby Boomer clients.
To offer meaningful financial advice and a compelling experience that would resonate with Gen X and Gen Y, as well as with Millennials and Boomers, the partners knew they needed wealth management software to automate and scale their processes for data gathering, financial planning, and client engagement.
oXYGen’s search for the right technology started by identifying their needs. Those capabilities included automated account aggregation, intuitive financial planning—including tools for budgeting and goal setting, and the ability to securely share information and documents.
By building a scalable planning process around eMoney, which provides clients with online, on-demand access to their account and plan information, the firm has maintained a 99.9 percent retention rate over the past ten years.
In this case study, you’ll also read how oXYGen’s positive, service-minded attitude and eMoney’s scalable financial planning technology has propelled their AUM to $1.1 billion in less than a decade.