The latest app in InvestCloud’s 300+ library of digital financial apps will enable any wealth manager to have the ability to create personas for each client, making digital experiences unique to the individual - while also enormously scalable.

PersonaTech can be applied to firms of any size working across the investment management value chain. The app aids managers in improving client retention through advanced audience segmentation that goes beyond traditional approaches (age/gender/level of wealth), to incorporate aspects such as financial knowledge, digital savviness and appetite to set life goals.

InvestCloud’s new app release comes as the wealth management industry faces an engagement crisis - particularly for female clients. Yaela Shamberg, Co-founder and Chief Product Officer at InvestCloud, led development of PersonaTech in response to this situation and because of her own experiences in the financial industry.

Yaela Shamberg said, “PersonaTech provides massive value as an app to not only our clients but also ultimately to the end users who feel more understood as the experience speaks to their needs. Additionally, because of our deep understanding of segmentation, personas are provided as part of this solution, which saves our clients time and money. Consultancy firms would normally charge tens to hundreds of thousands for persona ideas.”

John Wise, Co-founder, CEO and Chairman at InvestCloud, said, “As traditional client bases shift towards becoming more diverse and digitally savvy, wealth managers are not employing the right levels of empathy and understanding. Because of this, they face a serious problem in trying to attract new clients and retain those following a wealth transfer. PersonaTech helps them achieve this empathy - unlocking new levels of personalization to improve the digital experience.”

PersonaTech is one of more than 300 apps available on the InvestCloud Digital Platform. Together, these apps support digital engagement, onboarding, advice and financial planning capabilities which help clients achieve digital financial success.