Investment Advisors typically define the success and sustainability of their firm on their ability to attract and keep profitable clients.
For those Investment Advisors committed to growth, increasing their AUM and attracting high net worth prospects as clients is paramount. However, many Investment Advisors never take the next step in organizing this complicated sales, service and back office undertaking into an integrated and efficient workflow. Because of this Investment Advisors that spend more time and money on this process results in bringing fewer clients onboard. In short, most Investment Advisors are flawed when it comes to bringing new clients aboard.
Most Investment Advisors regard the client onboarding process as either a service automation tool or a back-office task. In reality, every step of the process is a client service opportunity and is key for managing and exceeding your new client’s expectations and for building your brand. They say you never get a second chance to make a first impression, and this is extremely true to how a new client experiences your onboarding.