Beyond Paperwork: How Technology Enhanced a Wealth Firm's Client Experience
TABLE OF CONTENTS
The Challenge
A growing wealth advisory firm faced a critical challenge: their client onboarding process was causing frustration for both clients and advisors. With multiple systems, manual data entry, and sensitive information handled insecurely, something had to change.
"Each account may have multiple account holders," explains Okana, the automation specialist. "It might be husband and wife, so it might be a primary account holder and secondary. Sometimes it's just a single account holder."
The Client Journey: Before
Imagine being a new client walking into the firm:
- You meet with a consultant who takes notes manually
- You're asked to predict how many accounts you'll need upfront
- Your sensitive information is stored in plain text
- Your documents get scattered across different systems
- You wait while everything is manually entered into various platforms
As the operations head explains: "We try to delete sensitive data from everywhere and not have it stored anywhere except for at our custodian... but you gotta pass it off somehow."
The Solution: A Digital Transformation
The firm implemented a comprehensive Airtable solution that revolutionized the client experience.
The New Client Journey:
1. Smart Initial Meeting
Instead of overwhelming paperwork, clients now experience:
- Adaptive questionnaire that responds to their unique situation
- Intelligent form that only asks relevant questions
- Secure handling of sensitive information
2. Flexible Account Setup
"The interface has certain fields that only show up based on answers given," Okana explains. Clients can now:
- Add accounts as needed without predicting the total
- Link accounts to primary and secondary holders
- Maintain family relationships within the system
3. Streamlined Document Management
- Drag-and-drop document uploads
- Automatic association with correct accounts
- Secure storage and handling
4. Automated Welcome Process
The system automatically:
- Creates contacts in Wealthbox CRM
- Triggers welcome emails
- Prepares DocuSign documents
- Reminds advisors to send personal welcome notes
The Results
The transformation improved experiences for everyone involved:
For Clients:
- Smoother onboarding experience
- More secure handling of sensitive data
- Faster account setup
- Better organized documentation
- Clear communication throughout the process
For Advisors:
- Elimination of duplicate entries
- Automated task creation
- Streamlined workflow
- Better organization of client information
- More time for personal client service
Looking Forward
The firm continues to enhance their client experience. "We can build a lot of other things on top of this," the operations head notes. Future plans include:
- Enhanced email automation
- Advanced DocuSign integration
- Additional security features
- Expanded reporting capabilities
The Bigger Picture
This transformation shows how thoughtful automation can enhance both efficiency and the human touch in financial services. By removing manual tasks and streamlining processes, advisors can focus on what matters most: building relationships with their clients.
As the operations head reflects: "This is a new project... we've got time," showing their commitment to continuous improvement in client service.
The result is a system that doesn't just save time and reduce errors - it fundamentally transforms how clients and advisors work together, setting a new standard for wealth management onboarding.
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