Alden COVE Overview

Alden COVE

Financial advisors are faced with constant iterations and reiterations of the latest and greatest technologies, investment strategies, platforms, and investment advisors. Performing due diligence on all these potential business partners is enough to be a full-time job.

In today’s fast-paced financial environment, independent advisors face the challenge of growing their business while servicing and managing their existing client base. It’s also a huge investment to have money management tools, client portals, and to support an operations staff to handle paperwork, money movement and administrative and back-office tasks. Trying to do it all yourself or even with a small team leads to less time to spend on growing your business or deepening client relationships.

That’s where Alden COVE comes in.

Alden COVE is the wealth management ecosystem for today’s advisor.

Our carefully curated business partners and vendors negate advisors from needing to screen partners themselves. Alden COVE is a culmination of resources that empower the modern financial advisor and team to not just survive – but thrive.

Our Turnkey Asset Management Platform (TAMP) is the solution for advisors and advisor teams looking to streamline their practice with the latest asset management technology, account opening tools, customized workflows – and a bespoke level of service you won’t find elsewhere.

Help your clients achieve success – from anywhere.

Clients deserve a phenomenal experience through premium service and technology access. It’s time to continue deepening your relationships in a more efficient manner.

Your vision is our vision. More time with clients, more efficient workflows, and ease of doing business. Less time on administration, paperwork, custodial follow-up and trading.

Alden COVE integrates all of your billing, reporting and accounting into an easy-to-use, best-in-class solution. By leveraging the robust technology of firms such as Black Diamond, we also provide your clients a customized, private-labeled web portal and mobile app to access their accounts real-time and get the information they need, day or night.

Investment Flexibility through our Turnkey Asset Management Platform (TAMP)

Whether you’d prefer to manage your own strategies, integrate institutional asset managers, or fully outsource your solution, Alden COVE’s trade order management system maximizes trading efficiencies across multiple custodians.

Our seasoned investment team is also available for assistance with model/UMA creation, scalability and integration, asset manager introductions and institutional or HNW clients.

  • Over 500+ institutional asset management strategies
  • Ability to create a curated, customized model marketplace of favorite strategies/managers.
  • Advisor as PM integration allowing you to institutionalize your asset management.
  • Mutual funds, ETFs and equities
  • Limitless UMA capability – have all of the above in one account.
  • Flexibility – protect assets from rebalancing, review tax lots, set customized rebalancing parameters for your models or individual positions, and hold non-billable assets/accounts.
  • Coming soon: structured products, alternatives and the ability to bill and manage held-away accounts.

Why Alden COVE?

Alden COVE

We provide you with a modern interface and UX, able to be used on PC, Mac, tablets and phones. By leveraging a carefully-selected partner for this component of our platform, we are able to give our advisors access to an extremely robust back-end as well.

We also use technology to make smarter investment decisions. With our digital risk profiling tool, we can run a risk assessment, providing a risk score of 1-100. Wouldn’t you like to make every investment decision with this type of insight? We can show you how!

Alden COVE’s proposal tool allows you to customize your presentation around a variety of risk and return metrics. From an ongoing compliance perspective, our technology archives all client risk scores and answers – while also placing this score side-by-side with their portfolio’s risk.

Transitioning to the Alden COVE Platform is simple and depending upon the size of your book of business, it can be done within a couple of weeks to a month. Our technology comes in handy for transitions as well – allowing us to feed data in from your CRM to prefill custodial and firm forms for multiple accounts within a household – all within one DocuSign envelope.

Investment Flexibility and Access

Independent advisors across the wealth management landscape are generally seeking increased flexibility with regard to investment management. Through Alden COVE, advisors and clients have access to a broad array of institutional asset managers – which they can craft a curated model marketplace from – as well as fully-integrated Advisor as PM management.

Scale your models with our trade order management system (TOMS) across multiple custodians, while retaining the ability to tailor client portfolios, through our clever technology.

Alden is known for our broad universe of investment strategies. That is one key reason why our team of financial representatives more than quadrupled in the last few years. Advisors want choices for their clients, and we have them in our TAMP. Additionally, advisors have ongoing access to our team of investment professionals for proposal assistance and asset manager introductions, if requested.

Alden also has multiple custodians, including Charles Schwab, Fidelity and Raymond James. Alden has rapidly approached a billion in assets under management, with over 100 advisors across the country, from California to Texas, Florida to Pennsylvania.

Bespoke Service with the Human Element

Technology isn’t enough in the modern era, and the answer isn’t a one-size-fits-all service approach either. Alden COVE’s digital back office and service team is extremely flexible when it comes to setting up account opening and servicing workflows. We’re happy to provide advisors with an insight into what tend to be the most efficient approaches, but are also comfortable creating a bespoke service model around the team members of advisor practices and their respective roles.

Most Turnkey Asset Management Platforms try to focus on doing too many things in-house. They try to create their own technology, with lackluster results, and spend too much time searching for investment strategies (or worse, provide an overly simplistic yet rigid model marketplace), stretching themselves too thin. With Alden COVE, we have a robust operations platform and we’re backed by Alden Asset Management’s existing network of investment opportunities and representatives, all under the same organization.

Alden Investment Group is part of a trusted advisor community. Our advisors work together to create new ideas for investors in a scalable way. This allows our TAMP team the time to focus on bespoke service, as all the other pieces are already in place, with a plug-and-play technology platform and an investment a la carte menu in our back pocket.

Digital Back Office and Client Services Team

Account opening spans far beyond forms and signatures. Alden COVE operates seamlessly to enhance the advisor and client experience. Optimize your account opening by adopting the same workflow regardless of custodian.

  • Digitized risk profiling for clients to complete with you, on a video call, or on their own – with an intelligent system that places all answers onto new account forms instantly.
  • CRM integration to minimize data input for new client accounts.
  • Fully paperless and digital process (with downloadable PDFs) for multiple accounts
  • Once the paperwork goes out, go back to meeting with clients, and our team takes over.
  • Alden COVE’s client service team reviews and approves all paperwork, delivers it to the custodian (through our tech), resolves any issues, tracks funding, and sets up accounts to be traded.
  • Have confidence your client will never miss a distribution by leveraging the Alden COVE team – and put things on cruise control in your office.

TAMP Services for Advisors at Various Stages of Their Growth-Cycle

Alden COVE

Early Stage: Minimize and Maximize

Outsource to a digital back and middle office to reduce overhead and hard-dollar costs. Leverage portfolio management resources to increase AUM rapidly.

Alden PLUS Portfolios

Growth Stage: Supercharge Revenue

Utilize technology to maximize efficiency. Streamline operations for acquisitions, new advisors and client onboarding/servicing. Use the trade order management system to scale your models/UMAs.

Alden ALTS

Mature Stage: Digitize and Monetize

Outsource your entire trading, operations and workflows to increase your practice multiple. Alden will actively seek out an acquirer and/or junior advisor to maximize seller satisfaction and minimize client disruption.

Succession Planning for Advisor Practices

Alden COVE

What do you do with your book of business when it’s time to retire? How do you ensure the clients you’ve built relationships with for years are managed well, and handed off to someone in a seamless manner? With Alden’s national network of advisors and dedicated recruiting/business development professionals, it’s easy for us to find the right person or team as your successor.

As you think about succession planning, you also want to increase the value of your book before your retirement day approaches. Alden COVE Platform’s model-based approach can create less work for you as an advisor, increase the value of your practice and make the final transition much easier than you ever thought possible.

Frequently Asked Questions

What are TAMPs?

Turnkey asset management programs (or in the modern era, turnkey asset management platforms) provide financial advisors with investment management assistance and administrative support delivered through a technology platform.

There is a broad continuum of TAMPs in the marketplace, offering varying levels of support in terms of investment management and client services, or even the scope of technology in general.

For example, TAMPs such as Alden COVE provide a full-service offering encompassing access to investment professionals for assistance in portfolio construction, as well as a hands-on service team to assist with account opening and servicing.

How do TAMPs help independent investment advisor representatives?

Investment advisors and financial planners spend most of their time with their clients, helping them achieve their financial goals. TAMPs offer not only access to investment strategies, but also investment professionals who can consultatively work with advisors/planners to help construct investment solutions for their clients. In this manner, TAMPs offer advisors/planners the opportunity to sit on the same side of the table as their client(s).

In terms of administrative support, TAMPs allow advisors to minimize their time spent on account opening paperwork, custodial interaction and tasks such as asset/money movement. By outsourcing these tasks to a TAMP, the advisor/planner can remain fully focused on their client and providing better outcomes.

How do you choose the right TAMP for your financial institution or practice?

Each practice is different. We have created our offering under a bespoke service model as there are many factors to consider such as:

Investment access, flexibility and support required
E.g. What kinds of investments do you need access to? Is it SMAs? Or do you also need ETFs, mutual funds, and structured products as well?

Administrative and client services assistance needed
E.g. Do you want or need to outsource these tasks? Or do you have an employee who already does this work (who may need assistance, a customized workflow, or simply a better system)?

Technology requirements, limitations and/or integrations
E.g. Do your clients need client portals and a suite of reports with your logo? Or do you need to aggregate or manage held-away accounts?

Does a TAMP offer clients a digital dashboard?

Each TAMP is different. Alden COVE leverages Black Diamond’s back-end interface, which means clients get their own client portals (either online or downloadable to their smart phones) with their advisor’s logo and contact information.

What type of support should I expect from a TAMP?

It depends. TAMPs often come into competition with low-cost model marketplaces. These offerings provide extremely limited support with regard to investments and administrative tasks. The advisor/client is essentially paying for the access to the menu of investments.

While Alden COVE can be offered in this capacity, our typical offering is high-touch service. Advisors rely on our team for account opening and servicing tasks such as:

· Paperwork prefill and distribution
· Paperwork review and custodial submission
· Ensuring paperwork is in good order at the custodian
· Tracking funding
· Platform setup
· Setting up standing bank account instructions at the custodial level for clients · One-time or periodic contributions, distributions and RMDs for clients

Our investment solutions team assists advisors in the following realms:

· Current holdings analysis (and cost analysis)
· Goals and/or cash flow based investment proposals
· Manager introductions
· Household solutions focused on tax sensitivity
· Unified managed households/accounts and strategy recommendations
· Outsourced due diligence and screening of all portfolios/strategies on the platform

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