Stage one: prospecting
Financial advisers play a critical role in guiding clients toward long-term financial security. They’re responsible for uncovering new growth opportunities, navigating shifting market conditions, and delivering strategic insight at every step. However, managing existing portfolios is only half the responsibility. Equally important is the ability to expand their book of business by identifying opportunities to capture new clients.

Without the right integrated technology, each part of the prospecting journey becomes disjointed. Advisers are forced to navigate slow, siloed systems with inefficient workflows. Intelligent wealth management technology can help advisers more easily surface opportunities with all their key data accessible in one platform, making it easier to focus on securing new business. Here’s how.

Discovery – make referrals effortless
Referrals have long been among advisers’ most effective and trusted sources of new business, yet many firms struggle to capitalize. Too often, the referral process is inconvenient and cumbersome, turning off even the most satisfied clients.

However, with digital referral experiences embedded directly into a wealth management platform, satisfied clients can introduce their connections using a simple form where introductions can happen in seconds. This streamlined approach means no more awkward requests from advisers, and no more burden on the client to liaise between the two parties. Just a smooth handoff from one relationship to the next.

By removing barriers and automating handoffs with an intelligent wealth management platform, the adviser can then engage new prospects instantly and begin building a personalized journey from the first touchpoint. 

Education – engage prospects instantly and intelligently
First impressions are still critical, but ever more complicated, in today’s digital-first world. Online interactions between an adviser and prospect typically happen long before a formal conversation ever takes place. From the moment a prospect expresses interest, a wealth management platform can empower advisers to deliver a smart, seamless experience that builds credibility.

Prospects expect immediate access to information on the firm’s capabilities – they do not want to wait for an introductory call or to fill out a form for a PDF. When this interaction occurs on a wealth management platform, advisers have full visibility into how prospects are interacting, can share targeted information and ultimately guide them toward onboarding – all without switching to different tools or re-entering data.

Most importantly, this platform builds trust early. When a prospect’s first introduction to their adviser is seamless and intelligent, it sets the foundation for a strong relationship.

Thoughtful engagement – uncovering opportunities with intelligent technology
Prospecting is only part of the growth equation. Advisers often also have plenty of untapped opportunities in their existing client base, but with data stored across disparate systems and an often-manual process for tracking client needs, an intelligent wealth management platform can help unlock these opportunities. 

By analyzing life events, digital behaviors and engagement signals, the platform can recommend the next best actions for advisers to take – highlighting which clients or prospects are most likely to engage. With a wealth management platform, advisers can act on automated alerts and calls to action to provide better service and increase share of wallet.

From admin to action
Ultimately, advisers should spend less time on administrative tasks and fragmented workflows that slow momentum and spend more time growing their business.

By unifying disparate systems and processes into one wealth management platform, advisers can streamline their day, stay ahead of client milestones and focus on what truly drives their business forward – building relationships, engaging new prospects, and providing strategic value for existing customers.

New business is just the beginning
Prospecting is only the first step in building lasting client relationships. Over the next few weeks, we’ll explore three more stages in the adviser/client lifecycle, including:

• The planning and proposal process
• Seamlessly onboarding new clients and constructing their portfolios
• Delivering ongoing servicing and reporting

Keep an eye out for the next edition and browse our Adviser Solutions page to read more about how our technology can simplify prospecting and strengthen each stage of the client journey.

Let’s talk
Curious how InvestCloud can help you transform your prospecting process and fuel business growth? Click here to start the conversation. We can show you what is possible.