Game Changing Data Automation for Wealth Management 

Game Changing Data Automation for Wealth Management 

In the financial industry, with all its external fluctuations, efficiency and optimization serve as the compass for growth and profitability. For Crescent Bay Advisors (CBA), a boutique wealth management firm, inefficient processes and manual tasks were threatening operations. With a dedicated team bogged down by administrative work, CBA struggled to surface the data-driven insights demanded in today’s client-centric landscape.

Alicia Byrnes, Chief Operating Officer of CBA, reached out to Alpha Advisors after a mutual colleague connected them. Through insightful questioning and hands-on analysis, AlphaAdvisors dove deep into CBA’s operations to pinpoint bottlenecks. Then they put together a customized, robust, security-security-conscious framework for financial accountability and management. The new framework and process blends automated tools with manual oversight to ensure accurate, up-to-date financial reporting. The framework underscores the importance of detailed scrutiny, organized documentation, and verification in managing financial transactions.

The results of working with CBA were:

  • 30 hours of weekly manual work compressed into 30 minutes
  • 8-person operations team trimmed in half
  • 90% time savings extracting client data
  • Improved visibility for data-backed decisions

They are not just tech savvy, they are business savvy. Kyle has been a resource to me across all aspects of my job thanks to his wealth of knowledge and experience in the consulting world. Also, they are unique in their approachability. Ease of communication is something you don’t often encounter in technology.


Alicia Byrnes, COO of Crescent Bay Advisors

The bespoke automation created as part of this framework is a comprehensive method for managing, verifying and documenting a client’s financial activities on all their bank account, investment accounts, and credit cards.

It starts with securely accessing the client’s account using credentials stored in a centralized and secure password manager. Upon accessing the account, the automated process involves a thorough line-by-line review of account activities and accurately categorize each transaction. This step is crucial for distinguishing between various types of transactions, such as checks, electronic transfers, credits, debits and for identifying any fraudulent transactions. Then a series of verifications and reports are produced, for immediate use by the business.

The automation created for CBA worked like this:

The collaboration with AlphaAdvisors not only added tangible value for CBA but also intangible satisfaction for Barnes. “The experience working with AlphaAdvisors has empowered me to make decisions and push projects forward,” she remarked. By alleviating administrative burdens, AlphaAdvisors enabled the CBA team to focus on their clients and the next great thing.

Does your financial services firm face similar inefficiencies that could be solved with the help of emerging technology? Connect with Alpha Advisors to start the conversation on how we can help.

About author:
Caitlin Hefner Head of Marketing, Alpha Advisors