Financial advisers and back-office teams value account-opening solutions that simplify processes, enhance compliance, and ultimately empower them to wow clients at every stage of the journey. Not to mention, advisory clients increasingly want improved digital experiences.
Here is an in-depth look at what that looks like in a real-world setting:
1. Seamless and efficient workflows
Ideally, your team has access to software that eliminates or significantly decreases the dependency on manual form filling, paper documents, and cumbersome data entry. In a perfect world, technology allows teams to breeze through all facets of the new account application process, from initial data capture to approval and funding.
You and your colleagues likely want features that make it seamless to use existing client data to automatically populate forms and minimise repetitive data input. Overall, advisers and operations teams can rise to their full potential when solutions are easy to navigate and understand. Solutions that have steep learning curves or complicated workflows only slow teams down and negatively impact client satisfaction and retention.
2. More robust compliance and lower NIGO rates
An ideal solution will be set up so that compliance checks and safeguards are baked in. You should not have to break out in a cold sweat due to worry about missing potential issues or failing to meet a regulation.
With respect to “Not In Good Order” (NIGO) rates, platforms that catch mistakes before submission save time and frustration. On a similar note, the most effective solutions capture every activity in the account opening process, for the sake of compliance and accountability.
Another important consideration is customisation of data fields and validation rules. Both features can support compliance and efficiency goals.
3. Superior client experience
Advisers and their teams are not the only stakeholders that matter in a new account opening context. Clients should be able to open accounts quickly and easily, too. With that in mind, digital and self-service options allow clients to complete portions of the account opening process digitally and at their convenience.
Communication matters in any adviser-client relationship. The best solutions support advisers and teams in delivering clear and timely information about account progress and status, at every touchpoint.
When competing for relevance in the attention economy, every minute counts. According to the Kitces Reports’ 2024 Financial Planner Productivity Study, the typical adviser has 16 touchpoints with their clients per year. The right technology can make these interactions more meaningful and impactful.
Still, it is important to intuit when to ditch the screen and instead opt for a more personalised form of communication. This is especially critical in times of market volatility and related uncertainty. According to a report cited in an April 2025 WealthManagement.com article, 56% of advisers indicated they used “high-touch” methods, such as phone calls, video conferences, and in-person meetings to interact with clients. Emotionally intelligent advisers know their clients and which channels to employ given the message, tone, and circumstances.
4. Integration and compatibility
Technology should not operate in a vacuum. Financial professionals need platforms that can integrate with other relevant solutions to ease the administrative burden of new account opening. Such an intangible can also help users avoid data silos and present a big-picture view of the client’s situation. Though it may be designed for the financial services industry at large, a solution should accommodate specific workflows, business processes, and compliance requirements.
In short, advisers and operations teams depend on platforms that are efficient, compliant, and client-centric so that everyone is happy.
On that note, Docupace makes it easy to keep your team organised so that nothing is left to chance. You need one platform that can handle all of it with new account opening, compensation, surveillance and compliance. Click here to schedule a discovery session.
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