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March Madness: Enterprise Peer Benchmarks, Unified Dashboards, and Business Objectives

Eli Gassert
Apr 5, 2021

If you've been following our product updates for the last year (and you should, 'cuz they're awesome!), you'll know that we've been rapidly evolving our platform, adding new modules and new features monthly (and blogging about it slightly less frequently). We're able to keep this pace because of some behind-the-scenes magic. Today, we're going to give you a sneak peak behind the curtain to introduce some exciting new features.

Enterprise Peer Benchmarks

Back in September, we rolled out a new Peer Group Benchmarks experience that has been very well received by our users. At the same time, we soft launched our new public-facing database for RIAs called RIAbase that offers a similar peer group experience. And now, we're releasing a brand new experience called Enterprise Peer Benchmarks for our enterprise customers.


Enterprise Peer Group Benchmarks work the same as Firm Peer Group Benchmarks, except we compare at an enterprise-by-enterprise basis. We take each enterprise customer, create a prototypical (i.e. average) firm from all their data, and then compare that firm to each of our other enterprises' prototypical firm.

We were able to deliver this bit of magic in just a few days because of a few uniquely Truelytics reasons:

  1. Our new Analytics Engine that can quickly do these point-by-point comparisons on each data point we collect.
  2. Our roster of enterprise customers that gives this report statistical significance.
  3. Our always-growing database of self-reported and enterprise-reported firm data. We now have over 19,000 partially completed or fully completed intake forms for TruePerformance. This is a bit of a mashup of #1 and #2. Without our new Analytics Engine, we couldn't take advantage of partially completed intakes; and without our enterprise relationships, we wouldn't have such a large database of firms. But we think it's worth noting here as its own uniquely Truelytics reason because the number is so staggeringly large for this industry!

Moving forward, we plan to expose another bit of magic that already exists in the platform, but is just not visible on the frontend: custom peer benchmarks and custom data filtering. Only want RIAs 50-250M? Want Dually Registered firms in a 50 mile radius? Want firms with a B+ Business Stability Grade with at least 3 owners? All of that is already possible; the filters just need to be added to the application. Want to see that sooner than later? Let us know!

Unified Dashboards: One Dashboard to Rule Them All

In just over a year, we've gone from having a single module (TruePerformance) to introducing the other three cornerstones of the Advisor Transition Management (ATM) Platform: TrueContinuity, TrueRecruit, and TrueMatch. These expansions to our platform came with their share of complications that caused us to rethink a few other features. Peppered in with our main module releases, we put out many supporting releases that enhanced the user experience to help accommodate these massive expansions to our toolset.

Today, we're releasing yet another one of those supporting features: our Unified Dashboard.



The Unified Dashboard is a new homepage experience in our app that gives you jumping off points into our other modules. Now that we have firms coming in with varying goals (i.e., not just filling out our TruePerformance intake), we needed a new experience to help welcome our users into the platform and to send them in the right direction based on their current needs and goals.

The Unified Dashboard was made possible with very little effort (less than a week from idea to implementation) because of all the behind-the-scenes magic we've been building in the past few releases.

  1. The Integration Platform we recently built started us building a library of widgets, some of which are shown on the new Dashboard: the Peer Benchmarks carousel; the step bars that are ubiquitous with all our modules to help guide you through the intake experiences; the context-specific Resource Center posts; and even the Consultant's Corner and Help Center widgets at the bottom that are also made contextually relevant.
  2. Not surprisingly, our Peer Benchmarks analytics engine makes an appearance on the homepage.
  3. Some less glamorous supporting characters, such as granular security and permissions system, allow us to tailor the experience to exactly the parts of the platform that the current user has access to.
  4. Our new Business Objectives feature allows us to further tailor the experience to the end user by allowing them to tell us what's most critical to them right now. "But wait," you might be thinking, "what's this new Business Objectives feature you're talking about?" I went a little bit Christopher Nolan on you and went a little out of order with this blog post. I'll be introducing that feature next!

Business Objectives: Tell us What you Want (what you really, really want)

Business Objectives are a way for a firm to tell us what specific goal they'd like to focus on right now in their day-to-day running of their business. By setting their primary business objective, we can generate a custom task list specifically tailored to meet each business objective, and we can point them to resources that will target that specific goal.

Behind the scenes, what makes this feature so special and impactful going forward is its dynamic nature. In this first release, our team can go in, add new business objectives for our users, and manipulate the most important tasks (Steps 1-3 shown above) and give them priority and sequence. But this is just the beginning for this feature! In the future, we plan to:

  • Allow users to mark tasks as complete.
  • Make tasks dynamically relevant using our Attribution engine (which also powers our Deal Flow Analyzer and Badging system in TrueMatch).
  • Give our enterprise customers the ability to add their own unique business objectives to add their business' special sauce to the Truelytics experience.

Conclusion

And there you have it! Three fantastic new features that will be launching in a few days thanks to our development team's efforts in March.

As always, if you think there’s something that you’d like to see, please feel free to reach out and let us know.

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