A look at industry trends shows that the needs of stakeholders in the wealth management industry are changing. Organizations that can adeptly meet these changes throughout the lifecycle gain a distinct competitive advantage. As noted in my previous post, onboarding provides an excellent opportunity for aligning your organization with these changing needs.
Customers are looking for more than just transactions when managing their wealth. They are looking for a true partnership in which the agent takes the time to understand their goals, outlines recommendations for meeting them, and then explains how and why those recommendations are the most likely to be successful for that individual client.
This approach elevates the onboarding process from a cumbersome administrative step to one that delivers exceptional value to the customer and the organization as a whole—and lays the foundation for a lasting relationship.