Iress : How to make client onboarding better

Client portals, client satisfaction

From the client perspective, access to the online client portal from day one allows them to follow and interact with the onboarding process and feel as much part of it as they need to, providing a sense of engagement, collaboration and control. Clients are used to this level of personalisation in many other transactions and services - so they will probably expect it from an adviser or wealth manager too.

The XPLAN onboarding process is also one with workflow capabilities that ensure the different touch points are genuinely joined up, creating more valuable time and costs savings. While a fragmented process with partial solutions might entail dealing with seemingly independent departments, a coherent workflow leaves the client with the impression of a service that is modern, efficient, personal and secure.

Clients are also left with a positive perception of an adviser whose main focus is on their needs, and not on tasks that consume much more of the adviser's time than they should do. The client will see that adviser as one with the capability to respond to them quickly and with relevant and accurate information.

We talk a lot about the vital efficiency gains achieved by adopting more effective workflow systems and technology. The XPLAN process that begins with onboarding is one in which those gains can really snowball, to the benefit of the client, the adviser, and the overall reputation of the business.