As wealth management firms aim to streamline their documentation processes, it is important for advisers to keep track of the most recent updates to the software and CRM tools that enable their day-to-day work.
In a recent joint webinar, Docupace’s Kevin Johannesen, VP of Client Solutions, and Wealthbox’s Chris Kopanski, Senior Product Specialist, teamed up to discuss how recent updates to the Docupace and Wealthbox integration are making it even easier for advisers to access key information in both platforms.
In this blog, we explain how Docupace and Wealthbox work, the current digital landscape where Docupace and Wealthbox fit, and the two integration updates that were recently launched.
Understanding Wealthbox and Docupace
Wealthbox is one of the industry’s top CRM (customer relationship management) tools designed specifically for wealth management companies. Wealthbox’s features help financial advisers keep track of daily tasks, communications, and past interactions so they can provide the best service possible.
Docupace is a comprehensive digital operations solution that provides the following and more:
- Universal account onboarding with straight-through processing
- Automated document management
- Concierge adviser transitions
- Electronic disclosure delivery
In addition, Docupace’s platform is an industry leader in helping advisers stay compliant with Form CRS, Reg BI, and other disclosures. Docupace reduces the costs of physical delivery by helping advisers go paperless.
Understanding the CRM and document management ecosystem
Think of Wealthbox as a digital personal assistant to help with day-to-day task management. Docupace then uses client information stored in Wealthbox to automate documentation tasks and create a centralised source for data integration.
Working together, these tools work together to create an end-to-end workflow where tedious tasks are automated, and information is stored in one compliant place. Along with other tools like PreciseFP, Docupace and Wealthbox provide an end-to-end digital ecosystem with innovative client-facing technology.
The ability to gather information from clients, execute signing and approvals, and stay organised all within one compliant platform is a huge win for registered broker-dealers and investment advisers. It is secure, approved, and indexes all the document/approval history that financial advisers need.
Not only that, but Docupace and Wealthbox offer integrations that make meeting customer needs and keeping up with documentation tasks even easier. For example, a financial adviser can access their client record page in Wealthbox with all their contact details, and then directly input that information into documents with Docupace.
New Wealthbox and Docupace integrations
What are the latest integrations from the Wealthbox and Docupace teams? On the Wealthbox platform, under Contact Details, advisers can now select the “send to” option and directly send that customer’s information to the form of their choosing in Docupace.
This happens in two ways:
- Client Folder: This option allows advisers to automatically pull up the folder and subfolders of Docupace documents associated with this client in one simple click, as well as populate the information for the single client into new forms already stored in Docupace.
- Starting Point: This option allows advisers to tie other people from the household (spouse, children), to the same document as the client, or “starting point.” This is especially helpful and reduces redundancies for use cases like adding children as beneficiaries to an IRA, or adding other adults for a joint account.
This new integration also includes perks like automated indexing and eSign capabilities and integrations for signatures so you can easily send off documents to their next step. Additionally, when information is pulled from Wealthbox, Docupace has required validations that ensure information is pulled over correctly and no information is missing.
In summary, there is now an SSO link from Wealthbox that can look up all of the documents that have been indexed into Docupace for a client. Those documents are all stored in a single system that then enables advisors to take the next steps, is fully compliant, and also keeps track of all past transactions so nothing falls through the cracks.
As Johannesen said on the webinar, “We do all the heavy lifting.” Docupace and Wealthbox’s new integrations will allow financial advisers to easily go from one to the other to fully maximise the benefits of their digital ecosystem.
If you are interested in learning more about integrations with Docupace, reach out to our experts directly at communications@docupace.com to learn about the solutions we have for your specific needs. You can also watch the full webinar here.
