General

  • Who is Jemstep?

    Jemstep, Inc. is a leader in providing banks and other financial services firms with a digital platform for their clients. Based in Silicon Valley, we focus exclusively on digital advice, with no other lines of business.

  • What is Advisor Pro?

    Advisor Pro is Jemstep’s digital advice platform that helps banks, insurers, credit unions, broker-dealers, and RIAs serve clients more efficiently and cost effectively, reduce complexity, and grow assets. Advisor Pro is flexible, giving firms control over the client experience so that it reflects their brand and messaging, creating a client-friendly online and mobile experience. Our bank-grade platform is designed to meet the rigorous demands of financial services firms and is integrated with existing systems for a seamless, omni-channel environment — for advisors, branch staff, and call center. The investment framework is built around a goal-based approach to planning and is designed for suitability over time, without adding cost or complexity.

  • Who’s behind Jemstep and Advisor Pro?

    The Jemstep team combines deep experience across banking and FinTech, including OCC regulation and vendor risk management. With our legacy of direct-to-consumer advisory business, we know how to engage and convert clients. But rest assured, we are purely a B2B company, exclusively focused on supporting your wealth business. Jemstep is a wholly owned, indirect subsidiary of Invesco, a global asset management firm, which provides non-core business support (such as HR and compliance) and optional investment solutions for clients.

  • Can you help my firm market to current clients and prospects? 

    Our marketing pros are available to share best practices, provide a toolkit, offer campaign ideas, and give guidance on A/B testing. We have the experience to help increase adoption and usage by advisors and clients.

  • Can I customize the platform for my firm?

    Yes, Advisor Pro offers a white-label online advice platform that can be configured to fit your firm’s service model.

  • Can I add Advisor Pro to my firm’s systems?

    If you are a bank, insurer, credit union, broker-dealer, or RIA, you can add Advisor Pro to your existing technology ecosystem and offer digital advice to your clients. That means no new systems to learn for your advisors or other client-facing staff. Our support services include an experienced implementation team, a playbook, and training, to foster adoption and usage by your advisors and clients. Contact us to learn more.

  • Can we restrict access to only clients in states where our firm is registered?

    Yes, Jemstep takes direction from you on this and any other features required to address your compliance issues.

Implementation

  • Can we design our own sign-up and log-in pages, for brand integrity?

    Yes, there is flexibility to design pages with your brand, messaging, and value proposition. Your Jemstep representative can provide details.

  • Which portfolio models and strategies are available?

    Advisor Pro provides an open investment architecture, so you choose the strategies offered to your clients. The platform supports a wide range of investment solutions, including mutual funds and ETFs, from any fund family of your choosing. We also offer optional Invesco model portfolios with diversified asset allocation and competitive fund fees, constructed to manage trading and cost challenges for any account size.

  • Can we choose our own funds for the target model portfolios?

    Yes, you can choose any holdings for your target model portfolios. We can advise on portfolio construction, including risk/return profile and the optimal number of holdings per portfolio.

  • What are important issues we need to address in creating model portfolios for our clients?

    We have extensive experience in formulating model portfolios, and we can advise on key issues such as the risk/return trade-off, costs, fees, and small-account servicing issues.

  • Can we develop our own risk tolerance questions and map to target model portfolios based on our own rules?

    Yes, you can develop your own questions for your clients. We can also advise on questions and the mapping process.

  • How are clients mapped to the appropriate target portfolio?

    When they sign up, clients click through a brief questionnaire to create their personal profile, select financial goals, and answer related risk questions. The platform instantly scores their attitude toward risk and capacity for risk, mapping them to a suitable recommended investment portfolio. The mapping process is configured to your firm’s strategy. If a client answers a risk-related question in a way that is inconsistent with other answers, Advisor Pro flags that response and alerts the client so they can review their answers and correct the inconsistency. Jemstep has extensive experience in developing risk tolerance questions and the mapping framework, and can help you think through suitability, fiduciary, and other issues.

  • Where on the platform do we see the target model portfolio recommended for the client?

    The client’s recommended (or, “mapped”) target model portfolio is shared through the Advisor Pro dashboard, Salesforce and, if applicable, Orion.

  • What types of statements and reports are available on the dashboard?

    Clients can access their account statements, trade confirmations, tax documents, and notifications — by account number and calendar year.

  • How is trading and rebalancing done on the incoming funds?

    Trades can be done using your existing trading platform, such as BTR, MI or Netx360.

  • How are fees charged to clients?

    You manage the billing for your clients using your current systems.

  • Does Jemstep manage compliance responsibilities?

    We are experienced in helping financial services firms work through compliance issues, but your legal and compliance responsibilities ultimately rest with your firm. We work with banks and other financial services firms to manage issues around OCC regulation and vendor risk management, and we can collaborate with your Legal & Compliance team to help solve concerns. Formal assignment of responsibilities is covered in our Technology Services Agreement.

  • What other third-party integrations do you support?

    Key platforms that are integrated with Advisor Pro include DocuSign, Fiserv, Pershing, Salesforce, Orion, and TD Ameritrade.

  • Does Jemstep ever partner with consulting firms to implement Advisor Pro?

    Yes, we can partner with consulting firms, to help them deliver a better digital investing experience for clients. Typical projects include Salesforce implementation, digital transformation, and omni-channel marketing. Talk to your Jemstep representative for details.

  • Can Advisor Pro send lead data into Salesforce?

    Yes, Advisor Pro can be integrated with Salesforce. We integrate all of the client demographic information as well as answers to their risk tolerance questionnaire and aggregated held-away accounts. This robust information helps to identify and target prospects, and convert prospects to clients. Talk to your Jemstep representative for details.

  • What lead information will we see in Salesforce?

    Data points include lead detail, lead profile, linked accounts, holdings, and portfolio analysis.

Client Experience

  • How would our clients interact with us through Advisor Pro?

    Jemstep is the technology provider for the advisor and the firm, and does not come in contact with the client. The relationship is between your firm, your advisors, and your clients. Advisor Pro operates within an omni-channel environment — across advisors, branch, call center, mobile, and digital — providing the platform connectivity for clients to interact wherever and whenever it makes sense for them.

  • Can clients start the application in one location (such as a branch) and continue it somewhere else (for example, at home) without losing information?

    Yes. The Advisor Pro platform saves client information throughout the sign-up and onboarding process. If the client begins the onboarding process online and phones a call center or walks into a branch, all parties will still have access to all data. We designed the sign-up process to be easy to understand and to complete in one sitting.

  • What account registrations can be opened on the platform?
    • Individual taxable brokerage
    • Joint taxable brokerage
    • Roth IRA
    • Traditional IRA
  • What do clients need to sign up?

    Clients can use Advisor Pro’s seamless single sign-on feature from your client portal or they can sign up directly by providing a name and email address and selecting a password. At the beginning of the sign-up process, clients see a list of additional information they’ll need to gather to complete the process, including information about their accounts.

  • How do clients update their contact information?

    There is an option to change address and phone number from the dashboard. The platform automatically updates all accounts under the client.

  • What is the minimum amount required for an account?

    Your firm sets the account minimums. Advisor Pro was designed to add efficiencies to the service model, giving banks and other financial firms a cost-effective way to serve small but growing accounts at scale. Our investment framework was built to solve trading and cost challenges associated with smaller accounts, providing a consistent investment profile regardless of account size.

  • Can a client open an account with less than the minimum amount required?

    Clients can create a profile, aggregate their financial accounts, and see the analysis. But they cannot proceed until they have the minimum investment amount.

  • Can a client open an account with a check?

    Jemstep designed Advisor Pro to eliminate the need for paper transactions. Clients can transfer funds using ACAT/ACH.

  • Where do clients see the account value for their accounts?

    The dashboard shows a basic report of the user accounts and the gain/loss of holdings within that account. Talk to your Jemstep representative for details on optional comprehensive reporting integrated with your other systems.

  • Can clients set up regular automated transfers into their investment portfolio?

    Yes, clients can set up automated transfers using cash via ACH transactions. Advisor Pro makes it easy for clients to enter and schedule transactions. The goal-based investment approach is designed to motivate clients to achieve their financial goals through better saving and investing behaviors.

  • How does the goal-based approach work?

    When they sign up for digital access, your clients answer a brief questionnaire about their financial goals, attitude toward risk, and capacity for risk. Based on their input and your criteria, your clients get instant feedback with a recommended investment portfolio. A dashboard shows progress toward their goals over time, along with informational graphics and suggestions to help reach their targets. Because advice is based on their personal goals, it’s more tangible and engaging. That also leads to deeper relationships and higher satisfaction overall. Clients can map their external accounts to their Advisor Pro profile through account aggregation, for a full financial picture. They can easily transfer those held-away assets into the recommended portfolio, giving them an investment strategy that’s consistent across all of their savings and with their longer-term financial goals.

  • Can clients close their account?

    Clients must contact your firm to close an account.