Product x Advisor Success

Paige Moult
Product Manager
January 15, 2021

Product and Advisor Success have an extremely close relationship at Purpose Advisor Solutions — and that is very intentional. Our Advisor Success team answers hundreds of phone calls and replies to thousands of emails on a weekly basis. Not only is that a lot of interactions to help answer questions and resolve inquiries, but it is a lot of interactions to understand how advisors are feeling about our product, to know where time is being spent, and to track and report any bugs. Even if you aren’t providing direct feedback (if you want to, read this article), every interaction allows our Advisor Success team to assess and identify opportunity areas.

So I sat down with Ryan Rego, Advisor Experience & Operations Manager, to discuss how Product and Advisor Success interact, the tools that are used, and how we can collaborate better together.

Paige: Hey, Ryan — thanks for joining me today. I wish we could be having this conversation in the office, but alas, see you in 2022.

Ryan: Haha — thanks, Paige. Happy to be here.

Paige: Ryan, today, I wanted to chat with you about how Product and Advisor Success interact at Purpose Advisor Solutions and give our advisors a glimpse into the tools we use. But first, I was hoping you could give a quick overview of the Advisor Success team’s goals and objectives.

Ryan: Definitely — the Advisor Success team is dedicated to servicing our advisors and handling our operations. The team reviews and responds to advisor inquiries, trains advisors on how to use the product, and works with our partners to meet our advisor and client needs. Our goal is to provide a best-in-class service experience to our advisors and their clients.

Paige: So you’re saying you’re an expert in every area? :)

Ryan: Haha not quite — but we are definitely the eyes and ears on the ground! We also represent the voice of the advisor and client.

Paige: Now I know you and the team respond to many, many requests on a daily basis. How do you keep track of all of those requests, make sure they are resolved, and that advisors are happy?

Ryan: Great question — we use a customer service software, Zendesk, that allows us to do all that. Essentially, any request that comes in ends up in Zendesk, where the team reviews it and triages it to the appropriate place. For example, if an inquiry came in about onboarding a new client, that would be moved to the ‘Onboarding’ queue so that the appropriate person could get back to the advisor with the information that they need. Now, not every request can be resolved right away by our team, so we are also responsible for working with other parties to resolve that issue (this could be our custodian, for example, or our engineering team for bugs). Zendesk also allows us to link any requests (i.e. to our custodian or engineering team) and track them, so we don’t lose sight of anything.

Paige: That’s great — and sounds like the right tool. I can only imagine my personal inbox blowing up with 400 emails a day and how many balls I would drop.

Ryan: Exactly — the other great thing is that we can categorize requests that come in. This is super important for our metrics and tracking and allows us to know where the Advisor Success team is spending their time and where the product team should focus their time. Also, if we run into a bug and have to send a ticket to our engineering team, we can send it through Zendesk and add the appropriate label for tracking on their end. Both of these tracking methods help inform the product.

Paige: How do you share these metrics with the product team?

Ryan: The main way is in the Advisor Success team’s weekly reflections: “What happened this week?”. Here we focus on metrics (volume of requests, categories, anything specifically that stood out). We also focus on the wins and areas of improvement. This is where we directly share feedback from our advisors and provide recommendations on improving the product.

I’ll share an excerpt from one of our first “What happened this week?” from October:

We saw an influx of money movement and online access tickets this week. With students going back to school, there was an uptick in RESP withdrawals given that the process cannot be performed in Advisor Center yet. In addition, the links sent to clients of our newest set of advisors expired on Monday, so clients who didn’t log in within the 7-day period have reached out to have that reset — we may want to work with our investor portal partners to extend this period.

With advisors using Advisor Center more and more to process money movement transactions and onboard clients, we’ve heard the following pieces of feedback :

  • A desire for greater visibility and detail about the status of transactions in progress and more human language for workflows — this would reduce an advisor’s need to contact our team and get them the information they need in real-time.
  • Onboarding can be long for clients with all the KYC and Risk Questions. Advisors (and clients) understand the importance of these, but it takes quite a bit of time to get through and feels like a lot of steps for a new client, especially when doing it over Zoom. How can we strike the right balance between what we need to do and delivering an elegant experience?

We recommend that for money movement and account opening workflows thinking about a wizard or tool-tips to help advisors along the way. We also think it would be valuable to show a progress bar for workflows and what steps are left and/or coming up.

Paige: The weekly reflections are an awesome way for all our internal teams to know what happened this past week and to pull recommendations and improvements from.

If you’ve read our Funding article, you’ll know that improving funding processes and visibility is a large part of our current roadmap. I know you spent a good chunk of time last week on that project — can you tell us a bit about it?

Ryan: Definitely — I worked with our Head of UX Design on the mock ups for the new funding page. Working directly with advisors and organizing our operations behind the scenes, our team has a really good sense of what information is valuable to an advisor when using our product. We were able to translate that into some cool designs with more transaction data for the new funding pages.

Paige: That’s awesome. Can’t wait to see the designs. Well with that, thanks so much for joining me today, Ryan, and I know we’ll chat again soon.

Ryan: Thanks for having me and anytime. Looking forward to what 2021 has in store!