Digital Wealth Management
Onboarded 65 person team into ClearPoint and generated 25 reports before the end of their first month.
ClearPoint grounds the way we think about where the business is going. Our team is forced to think more strategically with ClearPoint – and ClearPoint makes it easy to provide that context to our departments on their role in our greater success.
Canada’s first SaaS-based platform for wealth management, Nest Wealth was founded in 2014 in Toronto, Ontario. Their rapidly growing team of 65 focuses on increasing investor access to sophisticated wealth management advice. Within the last 6 years, Nest Wealth has seen incredible growth and is now utilized by well-established financial institutions, like the National Bank of Canada.
In early May of 2020, Nest Wealth restructured to account for their growth. During this time, the organization began using ClearPoint to improve transparency and alignment. Adam Bullied, VP of Strategy and Operations, led the charge on training his team on the platform, and within one month, they were already reporting out 25 different reports. The quick onboarding process allowed their team to instantly see the increased alignment and transparency they were looking for.
Growing out of old processes
Nest Wealth experienced exponential growth within their first year. When they began strategic planning, they used the Objective and Key Results (OKR) framework. They manually updated their progress in PowerPoint and Google Slides. These results were typically reported out during a 2-day offsite, where action items were captured in Excel. Throughout the new quarter, some action items would get lost, delaying progress on their plan and confusing team members on the status of their goals.
As the company grew, they found that while the leadership team had a strategic mindset, the rest of their team thought more tactically and were not as aware of the strategic plan. Nest Wealth recognized they had outgrown their old processes and frameworks. To account for a larger team (that is still growing!), in mid-2020, they transitioned from OKRs to the Balanced Scorecard.
Finding a software to grow with them
Nest Wealth recognized finding software that was easy to use and compelling to their team, promoted accountability, and prioritized strategic alignment between projects and objectives was key to their success. ClearPoint checked all of these boxes, and more.
As soon as they partnered with ClearPoint, Adam was in the tool building out their new Balanced Scorecard. His familiarity with the framework and their strategic plan made the software easy to understand and navigate. By the end of his first week, he had already imported much of his company’s strategic plans himself.
During the second and third week of implementing ClearPoint, they introduced other teammates to the tool. By the end of their first month, they had created 25 different summary reports for various audiences across the organization. Now, they have a single document that automatically generates monthly and contains a myriad of reports for their team. The setup was incredibly simple for Adam and his team, allowing them to quickly gain new insights on their strategic plan. “I was able to get a handle on ClearPoint very quickly on how it worked and what it did. Anywhere I had questions, our Account Manager was helpful in closing the gaps! Creating reports in ClearPoint is super straightforward. Once you get a handle on that construct, it’s easy to generate them,” says Adam.
Before, it felt like strategy was something leadership did behind closed doors at Nest Wealth. Now, they’re intentional with including their entire team in the process. With easy access to strategic information, team members feel connected to their strategy and are empowered to make good decisions.
ClearPoint creates changes they need (and quickly, too!)
ClearPoint’s easy-to-use features and onboarding process allowed Nest Wealth to improve transparency within their organization by the end of the first month. Now, Nest Wealth utilizes ClearPoint for their quarterly planning, weekly company calls, and to easily provide updates on how measures are tracking for their company.
With ClearPoint, Nest Wealth has evolved in their way of thinking. Now, their leadership team isn’t the only one thinking strategically. ClearPoint brought context to many departments and helped bring to life the strategic plan. Additionally, ClearPoint’s summary reports allow the team to easily understand how their key measures are performing, encouraging the team to think more strategically about how to achieve their goals.
The improvement in alignment and transparency continues to strengthen the rapidly growing team and help them guarantee their company remains successful. Nest Wealth is ready for the growth headed their way, and knows they found a partner to grow with them in ClearPoint.