The ability to scale quickly and profitably
By leveraging self-service onboarding technology integrated to an an underlying onboarding orchestration solution, firms can onboard new clients more rapidly and with less friction. Embedded bot-driven and human interaction ensure that whilst there is an emphasis on self-service and automation, a human is never beyond reach and the quality of service is never compromised.
Hybrid service models can enable firms to offer a more compliant solution where self-service tools are integrated or driven by solutions with embedded regulatory and best practice rule sets. Financial advisors and other members of client servicing teams can face a wide range of
day-to-day customer requests – payment requests, changes to customer account structuring, changes of address and much more.
Whether these requests initiate a comparatively simple or more complex process, a self-service solution integrated to underlying operation workflows, business rules and regulatory rule sets ensures ongoing servicing activities are undertaken in a consistent and compliant fashion.
Added flexibility and visibility for the client and adviser
Omnichannel delivery platforms provide an additional layer of flexibility and choice for clients. These platforms allow clients to access their account information, complete day-to-day requests and transact using a variety of channels, including online, mobile, and in-person.
Reduced operational costs
The downward pressure of margins means wealth management firms are keen to identify ways to minimise internal costs across the business.
A client portal and a hybrid servicing strategy combine to deliver efficiencies across a number of business areas.
Increased assets per adviser
Finally, by using technology to improve front office productivity, firms can increase AUM per adviser, resulting in higher profitability.