Why the myths surrounding Client Lifecycle Management are growing

Before the pandemic, we highlighted many common myths preventing wealth managers from servicing clients more effectively. And it seems they’re only on the rise. Read on to discover why the complex area of CLM is still at the centre of so much conjecture, debate and misinformation and how you can guard against it.

Over the last couple of years, wealth management has seen so many profound shifts in client expectations and digital transformation that a new set of myths has emerged. The pandemic has amplified the wealth management industry’s need to adapt for the future, transforming the client journey through digital services, robo-advice and real-time transactions. And as broader asset classes and a younger demographic have been thrown into the mix too, wealth management firms have a burgeoning number of considerations to contend with, from compliance to the seemingly endless possibilities of the ultimate UX.

Change spawns uncertainty

The situation has created the perfect storm for decision-makers. As technological advancements place ever-more exciting and personalised hybrid and human services on the table, it can be hard to distinguish the priorities from the nice-to-haves, the fact from the fiction and the current thinking from the outmoded advice. Those in the process of re-evaluating their client lifecycle to render more profitable, intuitive services, may find themselves struggling to scope the challenge accurately, never mind the solution.

As CLM provider specialists, we’ve therefore compiled an e-book to walk you through the common mistruths circulating on the topic of Client Lifecycle Management. Informed by our daily interactions with those at the top of wealth management firms seeking to optimise their systems to gain a competitive edge, these hard-earned insights could help you avoid costly mistakes.

Introducing the 7 Deadly Myths of CLM

From understanding the critical considerations for the integration and implementation of new CLM solutions to defining exactly what true digitisation looks like, we separate the myths from the modern-day marvel of effective Client Lifecycle Management:

Myth #1 Onboarding + KYC = CLM
Learn why onboarding and KYC processes are not synonymous with Client Lifecycle Management

Myth #2 CLM is just the new name for CRM
Discover why there’s a lot more than a letter’s difference between the two

Myth #3 Integration is an IT task
Find out why a client-centric approach must start with more than sparkling new technology

Myth #4 CLM solutions are best built in-house
Discover why proven solutions trump in-house builds every time

Myth #5 If You Have a Portal, You’ve Gone Digital – NEW FOR 2022
We reveal how this type of limited thinking is dangerous and outdated

Myth #6 You can’t buy CLM out-of-the-box – NEW FOR 2022
Unpack the ins and outs of today’s OOTB software with us

Myth #7 Data drives the quality of client relationships
Learn why data alone cannot deliver enhanced CLM

Essential reading for key decision-makers

To summarise, myths concerning CLM can lead to misguided decisions, costly u-turns, siloed systems, and, worse, a disjointed client journey and dissatisfied client.

Therefore, this topic makes for essential reading for CLM decision-makers in wealth management firms, especially for those in the role of Chief Operations Officer, Head of Client Service, Head of Relationship Management, or Head of CRM/Onboarding/KYC. Wealth Managers and marketing specialists keen to raise their game in line with the expectations of contemporary clients will also find it a helpful resource.

Available for free download now

Our ‘7 Myths about Client Lifecycle Management’ e-book is available for download now. Tackling this complex area myth by myth and step by step, it’s an ideal way to gain a deeper understanding of Client Lifecycle Management in minutes.


Wealth Dynamix
Wealth Dynamix

Wealth Dynamix Team

Wealth Dynamix delivers Client Lifecycle Management solutions to the world’s leading private banks and wealth and asset management firms.


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