Clients’ changing expectations are exemplified by their desire for exceptional digital support and interaction 

Nobody wonders “What’s on TV?” anymore. We expect the show we want to be available, right now, whether we’re on a couch in the family room or on a mobile phone hundreds of miles from home. That same on-demand mentality has taken hold in financial services, with clients increasingly expecting real-time access to information, updates and support.

Consider that more than half of investors say they’d change advisors in order to get better or easier access to their accounts. And investors are spending increasingly more time online learning about finance and investing. A third say they get a better understanding of investing by using digital tools.

All of which is another way of saying that even the most skilled financial professionals need the right digital tools and experience to reinforce the value they provide—helping them to stay connected with clients and meet investors where they are today.

Many financial professionals have gotten that message. Thirty-five percent say they are using mobile communication to provide clients with the information they need, while more than half now use automated email alerts for client updates.

Meeting sharpened expectations.

Clients recognize when systems enhance their experience and make things easier — and with a greater array of choices than ever before, they know they don’t need to settle. This can be a challenge for registered investment advisors who feel compelled to manage their own technology in addition to the thousand other tasks before them. 

So, how do you find the right digital tools and experience for each need? And how do you know the tool you’ve chosen to address one task will work seamlessly with the others?

Delivering on the promise of digital.

For many RIAs, the answer may lie in finding a strategic solution provider that understands their business and their clients’ needs — and can bring together the right set of tools and resources to address those needs — for communications and an online experience capable of helping them build stronger relationships with clients.

Ask yourself whether your current solution provider is helping you deliver a great experience for clients as they progress through these steps:

Prospecting. First impressions are so important. Is your current system helping you engage the right prospects, communicate easily using customized marketing and demonstrate your value early on by conducting portfolio analyses? 

Onboarding. Glitches in the early stages of your relationship can erode trust and may make clients regret their choice to work with you before you’ve really gotten started. Look for automated account opening, eSignature capabilities, and other tools that help reduce friction and make it easy for clients to do business with you.

Advice delivery. You need tools that make it easy for clients to understand their financial situation and progress toward their goals — to help build their confidence and reinforce the value of the advice you provide. These tools should also help you deliver peace of mind through income planning, scenario and shock analysis, and cash flow management. 

Portfolio construction. You need engaging analytics, model creation and client proposals that not only enable you to deliver the right investment solutions for clients’ most important goals, but also clearly communicate the why and how in understandable language and visuals that demonstrate the value you’re bringing to clients’ financial lives.

Online and mobile account monitoring. Quarterly investment reporting is just the start. Can you also offer clients on-demand performance reporting, event-triggered alerts, and an investor portal that conveniently provides support, updates and an “always-on” view of their progress?

An effective platform provider should help you create frictionless, end-to-end client experiences — to help you do what you do best without wondering whether you’re falling behind the technology curve.

AssetMark Institutional makes it easy to deliver a great client experience. Let us show you how. Schedule your consultation.