To address this gap, illio has developed a wealth tech platform that offers instant and simplified information about various aspects of a client’s portfolio, enabling wealth managers to increase their productivity and facilitate better client engagement.
An Intuitive Platform
The company integrates listed, unlisted and digital assets and other investment holdings into a single platform that provides quick portfolio level Insights, user-friendly analytics, intuitive reporting, and predictive ‘What If ’ scenarios.
illio’s engines aggregate and analyze the portfolio’s net worth, performance, profit and loss (P&L), risks, income, and environmental, social, and governance (ESG) factors. Additionally, their portfolio Insights act like an X-ray that gives wealth managers and clients immediate answers to related questions. For example, it can detect if a client has a high concentration of investments in a certain asset class or instrument that could pose a risk to their overall portfolio.
Instead of complicated charts, graphs and terminology that clients may not understand, illio’s Insights give the client and wealth manager a single sentence that explains what is going on, fostering more transparent client-advisor relationships.
Simplified Communication
Millennials and Gen Z are used to immediately accessible and user-friendly apps like Uber and WeChat. However, in the wealth industry, risk and performance is still being disseminated via PDF reports, confusing jargon and too many graphs. This disconnects customers from their advisors during their struggle to understand what they own and why.
Bridging this gap, illio replaces complicated information with simplified English, clear data, and attractive visuals that focus on what matters most about an investment portfolio and highlights the hidden risks. This complete visibility, in turn, improves communication between customers and their advisors, fostering healthy relationships.
“Instead of trudging through endless reports, collating everything, and then trying to explain to their clients what their past performance and future risks are using complicated terminology, wealth managers can use our simple Insights to communicate in a language that is easy to understand” says Rex Kumaran, Chief Growth Officer of illio.
Catering to the Digital Native
The digitally savvy new generation, who prefer apps like Uber to book a taxi instead of calling a cab number from the phonebook, are looking for immediate and on demand answers to their wealth related questions. They are used to getting information easily in a format that is digestible to them. If that is not the case, they are likely to switch firms.
illio caters to this generation by offering an interactive digital tool that allows end users to easily check their overall investment portfolio on a client portal. Additionally, its ‘Why is this good to know?’ feature educates clients about their portfolios by providing simple and concise explanations that eliminate jargon-heavy data and include call-to-actions.
To further help the wealth manager create better client outcomes, illio has a unique “What-If” scenario module that shows how different investment decisions affect a client’s portfolio over time. Beyond basic performance calculations, these include changes to future income, risks, and ESG as well as sensitivity to future market fluctuations, factors which are often overlooked due to limited tools.
Instead of trudging through endless reports, collating everything, and then trying to explain to their clients what their past performance and future risks are using complicated terminology, wealth managers can use our simple Insights to communicate in a language that is easy to understand
Enhanced Investment Management and Significantly Improved Client Relations
A success story exemplifying illio’s impact is of a Hong Kong-based small to medium-sized wealth manager responsible for several HNWIs. While competing with big American and Asian private banks in investment management proficiency, this client knew they needed differentiating technology to enhance their offering on both reporting, analytics and client engagement. With other solutions either being too expensive or complicated to use, illio’s offering gave the right balance between professional portfolio analytics and intuitive client experience to differentiate their services.
A game-changer in wealth management, illio strives to close long-standing advisor-client communication gaps through its user-friendly platform and distinct reporting capabilities that enhance productivity and customer engagement, eventually building trustworthy relationships.
The Team and Future Outlook
Founded by hedge fund and private bank alumni, Vanessa Gibson, Sarang Karkhanis ,and Ken Sue, illio has mixed that domain expertise with non-financial experts in the UX and Marketing teams to ensure that the messaging is always simplified and user-friendly. Furthermore, rather than rely on AI chatbots, illio provides highly trained staff to offer specialized, white-glove service for onboarding and support.
During its three years of product development, illio acquired several anchor clients and positive feedback before the full product launch in 2023. The system can be taken as is, in modules or white-labeled. Whilst maintaining a robust calculation engine in the backend, it focuses on user experience (UX) for both wealth managers and customers.
Beyond a wealth tech platform, illio is a paradigm shift in wealth management that closes advisor-client communication gaps and enriches an advisor’s toolkit with actionable insights, setting new industry standards for productivity and client engagement.
