Key Takeaways

• Accelerated Implementation: Completed platform onboarding in just 90 days, a significant 80% faster than the 18+ months quoted by competitors.
• Enhanced Investor Access: Dramatically improved document access times to under 10 seconds, boosting investor satisfaction.
• Unified National Operations: Successfully integrated nine firms with a national presence onto a single alternative investments platform.
• Empowered Client Service: Provided the white-glove service team with intuitive backend control to offer proactive and efficient investor support.

Background

A Legacy System That Caused Investor Frustration and Administrative Bottlenecks

As Kovitz strategically expanded its national footprint with nine firms joining forces, the firm proactively evaluated its existing technology infrastructure to ensure it continued to support their commitment to a pleasant investor experience. While their previous portal had served a purpose, Kovitz recognized an opportunity to elevate the client experience further by implementing a more modern, efficient, and user-friendly platform. 

This foresight was driven by their dedication to providing seamless access to information and personalized support for their growing investor base.

“As Kovitz expanded, we recognized the importance of having a unified platform that could scale with us and continue to provide the exceptional experience our clients expect. Our goal was to proactively identify a solution that would not only streamline our internal operations but also significantly enhance the way our investors interact with us.”

The Challenge

The Strategic Search for a Future-Forward Solution

Kovitz began evaluating alternative solutions, identifying a partner who shared their commitment to innovation and client-centricity. Their critical criteria included:

• Modern & intuitive interface to replace their outdated system
• Simplified investor access without complicated onboarding
• Backend control with hands-on support capabilities that are both proactive and efficient 

When comparing solutions, Kovitz found a dramatic difference in implementation timelines. Their alternative option (a leading competitor in the space) quoted an 18-month to 2-year implementation timeline, while InvestNext committed to implementation in 4 months—and delivered ahead of schedule.

“The other competitor quoted us something around a year and a half, maybe two years, to implement fully. When we contacted the InvestNext team, they said, ‘We’ll have this done in 4 months,’ and they ended up being 20 days ahead of schedule.”

This 80% reduction in implementation time was crucial for Kovitz, as they needed a solution that could keep pace with their growth strategy.

The Solution

Seamless Integration and Full Control

A primary driver for Kovitz’s partnership with InvestNext was the desire to gain greater control over investor communications and data management. Recognizing that direct oversight would lead to improved efficiency and transparency, Kovitz embraced InvestNext’s platform, which enabled them to:

• Directly manage document uploads and distribution, ensuring timely and accurate information sharing.
• Provide immediate support by resetting investor passwords and addressing inquiries directly.
• Coordinate communication timing across diverse investment offerings for a cohesive investor experience.
• Standardize the investor experience across all offices, reinforcing the Kovitz brand.

Jackson explained how this control proved especially valuable as Kovitz worked to unify operations across multiple acquired firms:

“InvestNext has provided us with the tools to operate as one unified entity, regardless of geographic location.”

The InvestNext team also provided exceptional support during the data migration process, ensuring a smooth and accurate transition from legacy systems. This collaborative approach minimized disruption and allowed Kovitz to quickly realize the benefits of the new platform. 

Results

Accelerating Growth, Enhancing Communication, and Elevating Client Satisfaction

The implementation of InvestNext has yielded significant positive outcomes for Kovitz, impacting both internal operations and the investor experience. The ability to efficiently manage document distribution has freed up valuable time, allowing the Kovitz team to focus on strategic initiatives and expand their fund offerings.

“We’ve put a lot of that time back into updating all of our processes top down. We’ve expanded our offerings and been able to onboard new funds for our investors, rather than spending all of our operational time servicing just a few of them.”

On the investor side, the feedback has been overwhelmingly positive. The all-in-one platform allows investors to access documents in under 10 seconds after login, and the Kovitz team can now provide direct support for any clients who need assistance.

“The time to get to the documents they’re looking for is under 10 seconds. It’s fast, and it’s sharp. And for the rare investor who does struggle to get in, it’s easy to walk them through the process.”

Looking Ahead

A Foundation for Continued Industry Leadership

As Kovitz continues its trajectory of growth, InvestNext stands as a crucial partner in enabling their ongoing success. Kovitz relies on InvestNext’s platform to scale efficiently while maintaining high service standards.

The firm’s ambitious goal to be a leader in the alternative investment space requires technology that can:

• Accommodate rapid growth
• Support a nationwide network of offices and teams
• Maintain consistent investor experiences across different brands
• Scale offerings without proportionally scaling administrative overhead

The flexibility of InvestNext has made it easy for Kovitz to integrate diverse offerings into one cohesive system, allowing them to continue scaling their operations while expanding their geographical footprint.

Conclusion

A Trusted Enterprise Partnership Enabling Nationwide Growth

For Kovitz, the decision to partner with InvestNext was a strategic move to proactively enhance their client experience and build a scalable infrastructure for future growth.  The InvestNext team’s willingness to work closely with Kovitz throughout the implementation process ensured that the final result matched their exact needs.

“I can’t say that every team would have helped us to the extent that they did. There was a lot of back and forth on how things might fit, a lot of tinkering to ensure everything was coming through. The final client experience was exactly how we envisioned it.”

By leveraging InvestNext’s enterprise-ready platform, Kovitz has unified a key component of their national operations, enhanced the investor experience, and reinforced its position as a leader dedicated to providing an exceptional, white-glove experience in the alternative investment landscape.