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Refinitiv Launches New Collaboration Toolkit

Tom Burroughes, Group Editor, London, 24 March 2021

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The firm says that digital adoption is an imperative for financial advisors today, and there is no turning back.

Global financial data and information group Refinitiv yesterday announced the launch of its new digital collaboration capability, “Refinitiv Wealth Connect”. It is designed to help wealth management firms and advisors cope with how technology is transforming the industry.

Users of Refinitiv Digital Investor can work with their advisors, other front-office personnel or the home office of a wealth firm. The new capability will be plugged into Refinitiv Digital Investor so that people can communicate through the following channels:

-- Chat/Chatbot: Users can communicate through a secure channel for quick pointed conversations or wealth firms can integrate a rules-based or AI-based engine to provide automated support; 
-- CoBrowsing: Advisors or support personnel can perform live observation of users accessing portals and other information, and they can browse with the investor to provide support; 
-- Messaging: Advisors and clients can use traditional SMS or embedded mobile device notifications to connect through a proven and well accepted method; 
-- Video: Advisors and clients can engage in real-time video calls via the platforms – either inbound or outbound—on demand at the click of a button; and 
-- Voice: Advisors or investors can initiate or receive voice calls, and advisors can connect calls data to CRM platforms. 

"Digital adoption is an imperative for financial advisors today, and there is no turning back. In order to engage with clients through the collaboration channels they expect and demand, financial advisors must accelerate their embrace of these new tools. Refinitiv Wealth Connect recognises this reality and helps advisors seize the opportunity inherent in this moment,” April Rudin, CEO and founder of The Rudin Group, said. (Rudin is also a member of this news service's editorial advisory board.)

Ashley Longabaugh, senior analyst, wealth management practice at Celent, said: “Advisor–client collaboration is a “must-have” prerequisite for wealth managers in today’s increasingly complex, digital, and remote environment.”

As reported in early February, the London Stock Exchange Group completed its purchase of Refinitiv, one of the largest M&A deals of its kind.

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