Introduction to Beyond Your Hammock
Beyond Your Hammock, a fee-only financial planning and investment management firm based in Boston, MA, saw a remarkable 6x growth in Assets Under Management (AUM) in just four years, thanks to leveraging eMoney's innovative solutions. Eric Roberge, the firm's founder, aimed to provide a holistic approach to financial planning, catering to busy professionals by addressing current cash flow concerns, setting realistic goals, and fostering responsible investment behaviors for the future.
The Need for Dynamic and Tech-Driven Planning Solutions
Recognizing the evolving needs of his clientele, Roberge understood the importance of offering a digitally advanced planning experience that could adapt to changing financial situations effectively. eMoney's Decision Center, Needs Analysis, and Monte Carlo simulation tools emerged as critical components in facilitating real-time client communication and providing a visual representation of financial strategies.
Enhancing Client Engagement and Planning Flexibility
Clients of Beyond Your Hammock experienced enhanced engagement and accessibility to their financial information through eMoney's Client Portal, resulting in over 95% of clients actively utilizing the platform. During the challenges posed by the pandemic, Roberge seamlessly conducted virtual planning sessions using the eMoney platform, ensuring uninterrupted client support and connectivity.
Empowering Informed Decision-Making
eMoney's comprehensive visualization of clients' cash flow dynamics and balance sheets provided Roberge with a tool to portray the impact of financial decisions over time. Through the Decision Center, Needs Analysis, and Monte Carlo simulation features, Roberge guided clients in making informed choices on resource allocation, goal prioritization, and wealth accumulation strategies.
Driving Growth and Expertise
By leveraging eMoney's advanced planning capabilities, Roberge expanded his expertise in sophisticated tax and income planning, positioning his firm to attract high-income clients. The platform's ability to track and communicate the impact of financial strategies over time enabled Roberge to demonstrate value, leading to a substantial 334% increase in forward-looking recurring revenue over a four-year period.
Ensuring Sustainable Business Growth and Client Satisfaction
eMoney not only supported Beyond Your Hammock's business growth by streamlining planning processes and enhancing client service but also reinforced client relationships through transparent reporting and continuous value addition. Roberge's ability to showcase the evolution of client plans and demonstrate tangible progress contributed to long-term client trust and engagement.