"We were able to bring in $4.5 million of assets under management": How Whitewater Financial runs its practice on Marloo

Corbin Carlyon is an advisor at Whitewater Financial, an independent brokerage that offers holistic financial planning, investments, insurance and group benefits. The firm is experienced in growing through acquisition, so Corbin looks at a client book from both sides: what it's worth to the advisor who built it, and what it's worth to the one who takes it on.

Two months ago, Whitewater brought in Marloo to give the firm one central place for its client data, and one that was easy to manage. Today Marloo is the system the practice runs on.

"Marloo is the integrated, all-in-one software for our practice. It's made running our business very easy."

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$4.5Mnew AUM identified and acquired in two months

Every client Corbin speaks with gets a profile in Marloo automatically, and each meeting's notes go straight into it. The team didn't have to change how they work to get value from it.

"It's very simple. There are very few tabs, and those tabs have all the information you need to run your operations."

The same simplicity matters as the firm grows. When Whitewater brings on a new advisor, Marloo shows them how the firm's data works and where each client relationship stands.

"It was incredibly easy to get up and running with Marloo."

With every meeting in one place, Corbin asked Marloo to find what his team had missed.

"I used Marloo's chat and told it to go through our past 25 meetings and find the opportunities. It built us a list of those opportunities, and we were able to bring in $4.5 million of assets under management."

The list showed each client, what was discussed in the meeting and where the opportunity lay. The team compared what they had discussed with what they had actually done, and found the gaps: assets held at other institutions, and conversations that had never turned into action. Each one was a reason to call the client back and bring those assets in. All $4.5M came from opportunities Ask Marloo surfaced, in two months.

The $4.5M was already in Corbin's book. What changed was that he could ask the whole book a question and get an answer in minutes. That matters most when a book changes hands.

When Whitewater buys a book, its return depends on how many of those clients stay. A book that arrives with every client's history in one queryable place lets the new advisor walk into each first meeting already knowing the client.

"When we buy a book, the more of those assets we retain, the more revenue we earn now and going forward. A book with every client's history in Marloo maximizes the value for the seller and smooths the transition for the buyer."

The seller has as much riding on retention as the buyer, because much of the price is paid after closing and depends on how many clients stay.

"No seller wants to hand over their book and watch retention drop. Having Marloo to guide the new advisor who takes on that block of business is worth tenfold."

Day to day, Marloo is where Corbin's team keeps and works its client data. They've built templates around how they like their data organized. Mid-meeting, Corbin asks Ask Marloo for a client's past notes and recommendations and gets them back exactly. Every task that comes out of a meeting is tracked.

"Marloo has kept me and my team on track. With Marloo as our main database, I think the book will grow astronomically, because the information is stable and easy to access."