By Jacob Rouser
How easy is it for an advisor to transition to your firm?
Suppose you’re a financial institution looking to grow by adding more advisors, either from broker-dealers, existing RIAs, or other organizations. In that case, you need to make it easy for your advisors to transition and instill within them a sense of confidence in your ability to help them retain their book of business.
Financial advisor transitions have long been stuck in mountains of paperwork, and accounts take what feels like ages to move from one institution to another.
Skience Advisor Transitions brings the transition process into the modern age.
Here’s how.
A Unified Advisor Transition Service for Your Firm
Part of the problem with transitioning from one firm to another was the lack of a full view into all the clients an advisor could bring with them.
In most cases, client information might be stored in a spreadsheet, but even if that spreadsheet could be shared and collaborated on, it still didn’t do much to automate or enhance the advisor’s ability to do more than manually track who had been contacted.
To begin, take the information an advisor can legally collect and import it into Skience. Now, the Advisor Transitions solution can begin to digitize the process of inviting an advisor’s clients to transition with them to their new firm.
Your firm can customize an email, micro-website, and fully digital account transition workflow for clients to easily complete their information and be finished with the process in minutes.
A Digital Transition Experience for Investors
A good transitions platform should be about the clients.
It goes without saying that making transitions better for your firm and your advisors is a major benefit of the Advisor Transitions platform, but none of that matters if the process isn’t also better for the end investors.
Gone are the days of a client waiting for an advisor to mail them an envelope of forms to fill out and send back. The process is now instantaneous.
Each email is personalized to the client who will receive it, and the website experience is as simple as placing an order on Amazon.
The information an advisor already has for a client is pre-filled, so there’s less work for them to do.
From a client’s perspective, the entire account transition can be done in only a few minutes. And, it is presented in a modern, easy-to-understand format that many clients have come to expect.
Through it all, an advisor can keep a close eye on all client interactions. They’ll know who’s received an email, who’s opened it, and who’s finished their questionnaire.
Closing the Loop on Advisor Transitions
Once a client has filled in their information and finished, the workflow moves back to the advisor.
The advisor can finish completing the account application within the Skience platform.
When signatures are needed, everything is integrated into DocuSign to keep things digital. Multiple accounts are packaged together into a Household-level document.
You can move confidently toward bringing more advisors to your firm when the Advisor Transitions solution helps guide you every step of the way. For a full demo and to see how you can leverage these features to onboard advisors and clients faster, click here to talk with our team.