Traditional wealth management firms may be lagging behind their upstart rivals in client service, particularly in servicing the digital demands of today’s customers.
Innovative companies inside and outside of the financial services sector are raising the bar and delivering seamless and rewarding experiences for their digital savvy clients. While traditional face-to-face interactions remain a fundamental requirement for the vast majority of wealth management clients, digital communication platforms now form an increasingly important channel for sustaining and nurturing these relationships.
According to a recent survey by Accenture, 76 per cent of respondents believe that digital technologies have had a neutral or positive impact on the quality of their wealth management relationship. One third of survey respondents believe digital tools are helping to sustain engagement and encourage their interest in investing.
To discover more on optimising your customer service platforms and strategies to help you effectively engage with the upcoming generation of wealth management clients, fill out the form below to download this complimentary white paper.
Businesses that can effectively utilise value-adding digital tools with their customer while maintaining the personal touch will greatly increase the value proposition to the client.
Critical to all of this is the adoption of customer success platforms, giving financial advisors the tools to serve an increasingly informed and digital-savvy clientele.
So what key customer service components will wealth management organisations need to better serve today’s clients?
1. A Holistic Client View – A single profile should exist for each client, complete with CRM, social, and back-office financial data. A 360 degree view will allow financial advisors to understand and improve the client’s interactions with the organisation.
2. Data-Driven Insights – financial advisors need powerful, data-driven insights and real-time visualisation tools to guide clients in making smart investment decisions.
3. Mobile Functionality – Over half of all Australian workers believe smartphones are necessary to simply do their job. For ‘road warrior’ financial advisors, relevant and timely client data should be accessible wherever they are from the palm of their hand.
4. Collaboration Tools – the ability to share data between advisors and their teams should be a simple and straightforward process. Seamless collaboration across departments will allow wealth managers to leverage the firm’s expertise to meet clients’ goals
5. Engagement Tools – an automated process using sales, marketing data and guided support tools will help advisors engage with new clients proactively.
6. All-in-One Console – an optimised financial advisor console that avoids ‘context switching’ (for example, switching between apps) will maximise productivity and ensure effective client engagement.
To discover more on optimising your customer service platforms and strategies to help you effectively engage with the upcoming generation of wealth management clients, fill out the form below to download this complimentary white paper.
