Adapt and thrive: 3 top trends in client onboarding for 2018

first_imgThe wealth management marketplace is changing fast! With the arrival of FinTech challengers, the changing expectations of tech-savvy customers, and the shifting regulatory environment, wealth management leaders are being challenged to identify what the top firms will look like in 5 or 10 years, and how to make the right investments to keep their firms among them.As a result of these shifts, many firms are looking at their client onboarding processes. They are evaluating how well these meet the needs of clients and advisors currently, and also how well they are poised to respond to changes in the industry. In discussion with industry leaders, here are 3 trends we  predict will influence client onboarding in wealth management over the next few years.1. An ever-increasing focus on client experience. Today’s customers are busier than ever. They simply don’t have the time for long preliminary meetings, or to travel to an advisor’s office to sign paperwork. And when they do meet with their advisor, they want the focus to be on holistic financial advice, not account administration.Tomorrow’s top firms are already responding to this situation by reducing the number of steps to onboard customers and maintain accounts, and by implementing technologies like e-signing and remote ID capture to keep office visits to a minimum. We also expect these same firms to explore cutting-edge technologies like biometrics, to keep their customer experience as streamlined and simple as possible. continue reading » 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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