ウェルスマネジメントにおける顧客オンボーディングの現状

My upcoming report, “Digitizing for Impact: Putting the Wealth Management Client at the Center of Client Onboarding” will explore the complexities of the onboarding process and how the implementation of technology across the value chain can create efficiencies and advisor-client journey satisfaction.

Wealth managers are at the beginning of digitizing their client onboarding process.

Today’s process is fragmented and underpinned by manual, disconnected, paper-based processes

•The technology investment focus has shifted from back-office improvements to front-office advisor enablement, including client onboarding

•There are significant redundancies and a lack of process transparency in the onboarding processes

Advisor and client sentiment and expectations are founded on a reliance on technology

•The pandemic hastened a broader shift to remote communication and digital channels, likely a step-change in advisor and client expectations post-crisis

•Wealth managers seek a higher level of automation of services and central storage of data in the onboarding process

The onboarding process presents pain points from inception through to maintenance. Three major hurdles stand in the way of creating a smooth client onboarding journey:

Seeing the Bigger Picture

•Each element of the onboarding process, while discrete, is inextricably linked to other elements; they are best examined as a cohesive system

•The intergenerational wealth transfer is in motion and more individuals are looking for wealth management services in non-traditional ways. Today’s wealth management client journeys need to reflect this new era of client behavior

Shifting Mindsets

•Creating a true hybrid high-touch, high-tech solution presents challenges across the client-advisor-employee journey because digital adoption by clients and advisors is not fully embraced yet

•Wealth managers demonstrate a resistance to change. Mindsets such as “it's always been like this” tend to dominate, especially in certain areas of wealth management

Adhering to Regulation

•The amount of data that is required of firms to capture, store, and update regularly to comply with regulation is significant and can create operational inefficiencies and risk

•Transparency and data validation across the onboarding process are critical—and largely still paper-intensive