Carota Wealth Management

How Qwil Helped Carota Wealth Management Turn Client Messages into Instant Responses, CRM Records and AI Insight

"If you're texting with your clients, you have no choice but to use something. If you're gonna use something, you may as well use the best communication software out there, and to me, Qwil is that software." - Raymond Carota, Founder & Private Wealth Advisor, Carota Wealth Management

Carota Wealth Management is an independent Registered Investment Advisor (RIA) based in Thompson Station, Tennessee, led by Raymond Carota. In practice for almost 30 years, the firm manages around $150 million in client assets and offers comprehensive wealth management and financial planning, with a focus on asset management. 

For an RIA, client communication is also a compliance obligation. Every conversation has to be tracked, retained and tied back to the client record, and having gone through an SEC audit, Raymond knows how much data a regulator can ask for which he describes as mind-numbing. 

“The audit went on for about a year and a half. They come with a laundry list of questions that you get a certain amount of time to respond to, and then returned 4 or 5 more times. It is therefore critical to be ready at all times.”

The turning point was adopting Qwil Messenger: secure messaging that clients use naturally, with full audit trail, and that logs automatically to the firm's CRM, Wealthbox.

Why Carota Wealth Management Switched to Qwil

The firm had been using MyRepChat to text with clients. It handled messages back and forth, but little else.

"We were previously using a software called RepChat, which was one of the most basic pieces of communication you can probably ever use to communicate texting with clients. It did absolutely nothing except, you know, a text back and forth, and a lot of our clients, they want a more robust system."

That left several gaps for a compliance-driven RIA with no easy way to share documents, weak data retention and CRM linking and even clunky internal communications:

"They want to be able to send photos. We want to be able to send them documents. If we need a copy of their driver's license, they can take it with the Qwil app, where we couldn't do that before. And it saves it in their contact record now."

Qwil offered all of this in a secure environment, plus something Raymond hadn't seen elsewhere: a messaging layer that works with the AI tools he uses to run his business.

Streamlining Communications with Qwil

"It's been light years ahead of what we were using before from a communication standpoint, whether it's data retention, linking with our CRM, retaining the documents."

Faster answers, fewer phone calls. 

Clients questions are answered in seconds without the need for a phone call.

"When a client has a quick question, instead of me getting on a phone call for 25 or 30 minutes, they just send us a quick message. I send them a screenshot."

Instant responses. 

Clients reply to messages far faster than to email.

"We send clients emails, we don't get a response as quickly as we would like or even a when we call clients. We send clients messages, we get a response almost instantly. I don't want to wait a day to get a response from a client. If I can get it immediately, it lets me check my boxes off a lot faster."

"(Clients) They love it so far. They have no complaints."

Documents and photos, securely. 

Clients can snap a photo of an ID or upload a document straight from their computer.

"They love the ability to take a photo of their license or a document and send that securely to us, without having to use any other platform or email, in case it's a sensitive document, like a tax return, that they don't want flying around on the internet."

Broadcast to many clients at once. 

The firm can now message 50 or 100 clients at a time, which is useful when something needs to reach the whole client base quickly.

Built for a remote team. 

Qwil lets Raymond and his assistant be more efficient.

"We're remote, and I can send my assistant documents, and she can send me documents that I can quickly review, or a screenshot, something simple and easy that we would otherwise have to email back and forth, or get on a Zoom call and say, 'Let me see your screen.' Now she can do it all within the Qwil app, and I can do it within the Qwil app as well."

Ready for AI

Qwil is built to connect to the other tools a firm runs on, and that includes AI. Through APIs, client conversations can be connected to the AI tools an advisor already uses, without a separate system or manual exporting. For Raymond, who uses AI across his firm, this was a deciding factor.

Automatic CRM Logging with Wealthbox

Wealthbox is the firm's CRM and the home of every client and prospect record. For an RIA, that record is where compliance details are tracked and where client communication needs to end up.

How Wealthbox works with Qwil. 

The firm connected Qwil to Wealthbox using the Qwil connector. Raymond added a Qwil identifier in Wealthbox, so every client and prospect record is automatically connected to their Qwil account. Conversations are then logged against that person's record automatically, so nobody has to copy messages across or write up notes by hand.

Why it matters for compliance. 

Keeping communication and documents in the CRM, rather than scattered across inboxes and phones, gives the firm one place to retain and retrieve them which is key for meeting SEC requirements. .

One Stack: Wealthbox, Claude and Qwil

Raymond's firm runs on three connected layers, each doing a different job:

• Wealthbox (CRM) is the system of record. Every client and prospect carries a Qwil identifier, so conversations and documents are retained against the right record.
• Qwil (communication) is where clients actually talk to the firm: messaging, photos and documents in one secure, easy-to-use app.
• Claude (AI) is the analysis layer. Raymond has set up an agent that reviews client messages, emails and call transcripts to build a behavioural profile of each client, such as who tends to get in touch when markets fall.

Together they make advice more proactive. The CRM holds the record, the AI spots the pattern, and Qwil is how Raymond reaches the client quickly, in a channel they answer almost instantly.

"I set up a behavioral agent, and I'm having that specific agent review all text messages that are coming in from clients, all emails that are coming in from clients, and all transcripts from our phone calls with clients ... I'm getting an advanced update from my AI bot saying, 'The market's not doing well.' ... Send them an email now before they get nervous."

What's Next

Raymond plans to use Qwil beyond day-to-day service, sending quick referral-request messages to existing clients. A short message can be passed along at lunch or dinner, and a referred prospect can be invited to Qwil in seconds.

The Results

• Time saved. Quick questions are answered by message instead of 30-minute calls.
• Near-instant responses from clients, compared with slow replies to email.
• Secure document and photo sharing, with sensitive files kept out of email.
• Automatic retention. Conversations are logged to Wealthbox for compliance.
• Broadcast messaging to 50-100 clients at once.
• A smooth onboarding with clients happy to adopt it.
• An AI-ready foundation, with client communication feeding the firm's AI tools.
• Better internal collaboration, and connectivity between a remote team

"It's just easier to do business … I love talking to my clients, don't get me wrong, but there's only so much time in a day … having the ability to send them a quick screenshot of their account value, or a document that they're looking for, and I can just send it right through Qwil. It's incredibly time-saving." - Raymond Carota, Carota Wealth Management