On this page
Unleash your genius.
Get genius ideas, actionable tips, and smart solutions in your inbox once a month.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

5 Steps to Smoother Wealth Management Client Onboarding

Stefanie Jansen |
August 3, 2022
Min Read

The first three months of a client relationship are crucial, especially in a relationship-driven industry like wealth management. That means the wealth management client onboarding experience is more important than ever—but does it provide the digital ease and convenience modern clients now expect? 

Post-pandemic, one in two wealth clients now plans to engage more with their advisor virtually going forward. Millennials plan to make even greater use of digital tools when managing their accounts. 

Automation in the wealth management sphere doesn’t have to be difficult, especially with a few optimizations to the client onboarding process.

1. Digitize your lead generation process.

Millennials are more hesitant to pick up the phone to make initial contact. They prefer to do their research online first and then make contact through digital means. Before scheduling a meeting, give prospective clients the option to learn more, right from your website. Lead capture forms are easy to add to any page and do all the work for you in gathering initial details like:

  • Name
  • Phone number
  • Email address
  • Main interest (e.g., retirement planning, investing, etc.)

You can easily brand forms to your firm’s requirements and even make them mobile responsive. As new clients inquire, you can track and analyze the data to better understand what prospects are looking for.

2. Get to know them with a new client form.

Once they have a foot in the door, start the relationship by getting to know them better. This paves the way for more personalized future communications. Use this client information template to gather initial information. You can customize the form to your firm’s needs and even include a field for uploads like required financial docs.

Remember: as new clients divulge more information, they’ll want assurance that their data will be kept secure. Choose digital solutions that encrypt data for total security and peace of mind. 

Already gather information in a CRM or ERP? Learn how Ameris Bank created Salesforce records in Formstack (without having to log in), allowing for faster account referrals. 

3. Greet newcomers with a digital welcome packet. 

From compliance notices to planning checklists, wealth management requires an abundance of documents. Make them easy to send and receive with digital agility that modern wealth clients appreciate. 

You can even use the form data you gather to automatically generate documents in minutes. From proposals and applications to agreements and contracts, you can build personalized documents fast and deliver them anywhere—whether through email, mobile, or apps.

Formstack Documents aves teams an average of 24 hours per week

4. Schedule initial meetings online.

When it’s finally time to set up a call or first meeting, make the scheduling experience easy for them—and you.

Google Calendar integrations seamlessly connect to your calendar and update in real time so clients can choose from available times. Automated calendar management eliminates the need for back-and-forth emails and ensures you’re never double-booked.

See which of your favorite apps integrate with Formstack. Formstack works with over 260 third-party integrations to help connect your forms, documents, and signatures. 

5. Sign contracts digitally.

There’s no shortage of contracts to sign as you work on a client’s behalf. Make the process easier for clients who are remote or just on-the-go with the ability to e-sign. No need to print and snail mail contracts. The best e-signature tools can now be used on any device. 

When you want to generate your own contracts, automate the process using CRM or third-party app data. That way, you can avoid duplicate efforts and data entry errors. 

Start Automating Onboarding Today

When you automate your wealth management client onboarding workflows, you have more time to focus on other things—like building lasting relationships. You can even optimize future onboarding with a feedback form to gather new client perspectives on your new digital process. Start attracting and retaining the next generation of wealth management clients with automated forms, easy-to-use documents, and digital ease.

Could your wealth management onboarding process use a little optimization? Discover how Formstack can transform processes across your financial institution.


Formstack '23 Fall Release: Your Questions Answered

We’ve compiled answers to commonly asked questions during the Fall ‘23 Release webinar.
Read more
Stefanie Jansen |
Stefanie is a marketing writer with specialties in blogging, website writing, and copy editing. She has worked with a number of tech companies and has experience in the areas of email, marketing campaigns, and employee engagement. Connect with Stefanie at word4wordwriting.com.
More Articles