Toth Capital Management Aims to Disrupt the Market with CircleBlack
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About Toth Capital Management
Toth Capital Management is a breakaway wealth management firm primarily serving high-earners, entrepreneurs, and high-net-worth individuals and families. For Toth Capital, world-class service means world-class service offerings. They build custom financial engines: active investment planning and management that powers their clients toward their future.
The Challenge
Toth Capital Management creates custom investment portfolios and maintains a dynamic financial plan for each client.
To provide the world-class service offerings behind their founding mission, they needed the right tech stack that pulled together all the pieces of portfolio management, reporting, and client engagement into one space. As a small startup, they also recognized that investing in tools to improve back-office efficiency was the best way to offer clients the most value and support.
Since consolidating account management, reporting, and client communication into a single platform with CircleBlack, the two-person team at Toth Capital Management is providing a level of service that defies their firm size and is truly disruptive in this space.
The Solution
CircleBlack knows users expect the same level of service and conviction from a platform as their clients expect from advisory services.
“CircleBlack was excited to have us as part of their client family. The level of support and care their team provided felt a heck of a lot like the experience we expect to offer our clients. Our interests and beliefs were aligned,” explains Toth.
CircleBlack welcomes, collects, and implements user feedback into hotfixes or additions to our Product Roadmap, with a sprint cycle that delivers platform releases every two weeks. We don’t just make it easy for you to reach us with suggestions or questions; we encourage it.
“When we call CircleBlack, we don’t get put into a queue. Anytime we reach out to the support team, the person we speak with takes ownership of our questions right away. Rather than getting blank eyes and a nod, the support team wants feedback and eagerly gets to work.”
- Dedicated Support Team
- Dynamic Reporting
- Clear Client-Facing Reporting
- Secure Platform
- Custom Client Portal
- Wealth Management Platform
Dynamic Reporting for Instant Account Feedback
When clients call advisors, they expect prompt and detailed answers. That’s not always easy to provide when you use several distinct and complex platforms to manage portfolios.
“I’m used to wading through data in ultra-complicated programs. It was a clunky experience. Since using CircleBlack, my clients have undoubtedly noticed how many fewer times I’ve said, ‘Hey, I’ll get back to you on that’ when I’m trying to dig through account data to find an answer to a complex question.”
CircleBlack improves your responsiveness and client communication by preventing you from spending hours hunting down data and trying to call clients back to discuss their concerns.
“Each call that requires a call-back to hunt down detailed information costs an extra 2 – 4 minutes, minimum. That compounds quickly when you manage a lot of clients. It’s hours and hours wasted over the year.”
Client-Facing Reporting
Firms often overwhelm clients with too much irrelevant data that is not tailored to their individual needs. These massive reports are confusing, frustrating, and difficult to act on.
Firms tend to deliver overwhelmingly complicated portfolio reports to clients, with a glut of excess data and charts that aren’t tailored to answer the individual questions that inspired the review meeting.
“It may seem like a small detail, but the most common feedback I’ve received while onboarding clients over the years has been relief—to never again see their former advisors’ wonky, behemoth, unactionable portfolio reports.”
Toth continues, “Being able to give clients a tactical report, where they understand the data, how it impacts their portfolio, and how it fits the goals of their investment plan gives them something of lasting value, something they can walk away and use.”
Users can share tailored PDF reports (from short updates to comprehensive deep dives) with their clients that only relay the most pertinent information clients need to see.
“Our clients don’t need to review recorded video calls or try to recall what was on page 37 of the last report because they’ve got this clean, 10-page report highlighting what’s important in the exact order you want your clients to view that information. And because it’s very easy to customize, it saves a lot of time—both while meeting and with follow-ups on the backend.”
A Secure Client Portal That Clients Appreciate
The client portal provides clients with a secure place to view portfolio data and communications. It also provides a secure place to receive, upload, and download any relevant information.
“Clients really appreciate having a client portal with a clean, sleek look to get their information. That’s exactly what they’re looking for,” says Toth. “Clients trust me and, by extension, CircleBlack to keep their sensitive data secure.”
CircleBlack’s client portal gives advisors the control and flexibility to guide their clients. Users can customize each portal to the client’s needs.
“Every portfolio managed by Toth Capital is completely different. Every circumstance is completely different. If you’re not careful, you can overload clients with irrelevant information. Their eyes glaze over. And they get frustrated. The portal has the tools to show only the most relevant information to clients.”
Integrations Cut Process Time in Half
From financial planning software to compliance, CircleBlack’s integration capabilities allow all relevant data to flow into a single dashboard. This helps firms focus on their core principles by optimizing the back-end work. In exchange, teams get more time to offer as much value as possible to their clients.
“Setting up the integrations within CircleBlack is easy as can-be,” Toth explains. “You click the button to start setting up the integration, then you type in your passwords as if you were just pulling up the account on a new tab. And blammo! It’s connected. And it stays connected. And getting an integration to stay connected is huge for wealth management.”
Multiple logins and dashboards waste time. It forces advisors to move through systems and hunt down data. With CircleBlack, you can pull all your vital tools together to provide an exceptional level of service to your clients faster.
Proclaims Toth, “The integrations alone have reduced the time we spend gathering information on accounts easily by half.”
Disclosures: This material has been prepared for educational purposes only. It is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice.
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