Founded in 1977 in Peoria, Illinois, David Vaughan Investments has grown from its roots into a fully integrated wealth management firm. Today, with $5.5 billion in AUM and more than 1,200 high-net-worth and institutional clients, the firm delivers a hallmark dividend-focused investment strategy, coupled with comprehensive services in financial planning, estate management, and client advisory.
Outgrowing a Legacy CRM System
While the firm had successfully navigated decades of growth and technology transitions, its legacy CRM systems were holding it back.
“We had been longtime users of other SS&C products,” recalled Steve Hinrichs, SVP of Investment Strategy. “But as the firm expanded, our CRM simply wasn’t a long-term solution. We needed workflows, consistency, and a better way to train and empower our client service associates.”
As part of that approach, Hinrichs joined the committee tasked with evaluating new CRM platforms. The team brought in Versoft Consulting (an organization already steeped in the RIA Business model) examined multiple options, and ultimately selected Engage, one of three CRM solutions offered by SS&C Black Diamond® Wealth Solutions.
Engage is built on Microsoft Dynamics 365, which includes deep integration with other Microsoft solutions the firm was already using for its daily operations. In addition, Engage has the ability to deliver robust workflows that would build efficiency and reduce the chance of manual errors. Just as importantly, the firm was impressed by the strong support and service provided by the Engage integration team that translated David Vaughan Investments’ business rules into a scalable system.
“Engage offered the workflow consistency we had been missing,” said Nate Heffelbower, Senior Client Services Supervisor. “It was the right decision to take us forward.”
Improving Efficiency with Automated Workflows and CRM Integration
Since rolling out Engage, David Vaughan Investments has activated 25 automated workflows that span the entire client lifecycle, from onboarding new accounts to completing advisory documents and communicating with clients.
Previously, tasks such as managing required minimum distributions (RMDs) for hundreds of clients were created and tracked manually, requiring client service associates to enter information by hand and pass it along to relationship managers. The process was time-consuming and had potential for manual errors. Today, those tasks are automatically generated in Engage, with the correct dollar amounts pre-populated, and the assignments automatically routed directly to the right relationship manager.
“That alone has been a game-changer,” noted Heffelbower. “We’ve eliminated keystroke errors and saved an enormous amount of time.”
Other efficiencies have followed. Document reminders and client communications are now all tracked within Engage, reducing the risk of errors and missed steps. Integration with Microsoft Outlook has also streamlined daily operations, with tasks and emails syncing automatically, so staff no longer have to duplicate their efforts. Even complex financial account setups, once bogged down by manual inputs, are now completed in half the time thanks to the business rules running behind the scenes.
Enhancing Wealth Management Operations
The firm is continuing to build on this foundation, with recent integrations of LaserApp and DocuSign for straight-through processing of custodial forms, as well as to further explore eMoney integrations and deepen process automation across client service. Heffelbower credits Black Diamond’s service team for enabling this momentum: “They knew our business rules inside Microsoft and brought that into our rollout. The training, the off-site workshops, and the personal touch gave us real confidence. It wasn’t just technology; it was also a relationship that personalizes our work together.”
For David Vaughan Investments, Black Diamond’s Engage CRM has shifted CRM from a static database into the operational backbone of the firm. What began as a search for better workflow consistency has evolved into a new standard of efficiency, accountability, and client service excellence.
See what SS&C Black Diamond CRM Solutions can do for your wealth management business. Request your personal demo, call 1-800-727-0605, or email info@sscblackdiamond.com today.
