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Project shaves off valuable minutes.

When Curian Capital LLC asked its distribution partners in 2006 what it could do to help them run their fee-based investment business, they cited help with improving efficiency, time management and keeping pace with technology. In March 2007, the Denver-based subsidiary of Jackson National Life Insurance Co. launched its Simplified Proposal Process.

About the Project:

Curian provides fee-based separately managed accounts through the SPP technology platform. The system is fully functional for more than 15,000 advisers, planners or agents, said Robert Dearman, assistant vice president in broker/dealer systems for Jackson National. Curian budgeted million for development of SPP, but spent only $935,000.


Business Purpose:

Separately managed accounts allow advisers to provide high levels of customization in financial plans. However, Curian learned through a survey that 80% of its partners spent less than half of their time actually working with clients. The rest was consumed mostly by paperwork and other administrative chores, said Dan Maurer, senior vice president of marketing. The new platform helps advisers reduce administrative tasks, generate marketing proposals and openaccounts online in onlya few minutes.



The system collects pertinent client information and uses it to help advisers and clients choose asset allocations. The program then allows a choice of active fund management, quantitative (passive or index funds), or a blend. Clients may also choose to exclude investment in up to 14 kinds of companies, such as those making alcoholic beverages or nuclear power. They choose rebalancing options, whether to reinvest dividends, and tax-related or capital-gain strategies.

Technological Advances:

Under the previous online system, a novice Curian distributor could open an account online in about 38 minutes. That process required 146 keyboard clicks on 26 screens. An experienced user could do it in 27 minutes, Maurer said.The new process has reduced the full process to 53 dicks on six screens, or about eight minutes for a novice and six for an experienced user. It can generate marketing proposals in one to three minutes.


The SPP has resulted in a 133% increase in monthly proposals, a 60% rise in assets, a 78% reduction in time needed to open a new account, and a 64% reduction in keystrokes, all with no addition to the Curian work force, said Maurer.
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Title Annotation:Technology: E-Fusion 2007; Jackson National Life Insurance Co.
Author:Panko, Ron
Publication:Best's Review
Date:Dec 1, 2007
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