The investor onboarding process can be more efficient with a unified system designed to support advisors and the compliance process.
Investor onboarding is a process that can be long—and perhaps, at times, excessive. Other major factors include compliance and adhering to regulations, which take a toll on the ability to onboard clients quickly and efficiently. And of course, the disjointed nature of client onboarding itself is no help.
Investor Onboarding Solutions
Approvals are needed at different stages and can take up a lot of time due to the amount of data and documents involved. Lack of visibility on the process can slow down onboarding completion. However, this can be fixed by streamlining the process with software designed specifically for investor onboarding.
Investor onboarding solutions provide advisors, investors, and other key stakeholders with a unified platform and digital tools that enable process efficiencies, ultimately allowing them to save time with automation and data reuse. Visibility over the entire investor onboarding process is also key to an efficient process. This can be done by providing advisors with a set of tools for simplifying account opening and order management, facilitating client discovery, investor onboarding and minimizing blockages.This way, advisors can perform tasks in a fraction of the time, and are able to more optimally service clients, and create a better overall customer experience.
To successfully manage compliance and minimize risk, wealth management firms should implement a framework that supports and enhances their overall corporate governance.
This should include a solution for supervision and compliance audits that is simple to track, monitor and ensure compliance throughout the lifecycle and the lifetime of the customer by being capable of responding to new data as it comes. It is difficult to tear down the existing data and process silos, but that’s hardly necessary when you can implement an onboarding solution that truly centralizes all data.
To operate at their best, wealth management firms need to onboard new clients efficiently, compliantly and ultimately – profitably. Univeris aims to offer investor onboarding and compliance solutions that simplifies processes for advisors, all while enabling them to more optimally service clients. Advisors and wealth management firms can spend more time with customers and less time shuffling through long processes.
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