has expanded its relationship with Onyx CRM
, a spokesperson with the mutual fund company told the MutualFundWire.com. Dreyfus will not make use of the software for both its institutional and retal businesses.
Currently, Dreyfus utilizes Onyx's systems for its broker/dealer network for the institutional end of its service offerings. With this expansion, Dreyfus will use Onyx for its retail business and help it maintain its relationship with its high-net-worth customers (those with $100,000 or more assets). The firm is creating a new class of clients called the Advisor class.
"We've had tremendous success with Onyx and felt strongly we should expand our use of its software to the retail side of our business. We are depending on Onyx to help us manage relationships with some of our most important clients," stated Brad Orben
, complex manager for Dreyfus. "We've set a goal for seeing measurable return on our investment within six months of implementation, and our previous experience with Onyx makes us confident we will reach that goal."
Specifically, Dreyfus will be deploying Onyx Employee Portal
. Dreyfus brokers/dealers will be able to use the system to manage client contacts and cross-sell Dreyfus clients.
"If a client has $100,000 already invested with Dreyfus, it's possible they have another $900,000 to invest as well," the executive added. "The challenge each of our advisors has is to understand each client's profile to get him or her to invest as much of that $900,000 with Dreyfus. Client intimacy, as well as providing research, information and recommendations within an established relationship between rep and advisor client is key to the success of growing the assets under management, revenue and profitability."
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