Personalized portals

Financial service clients want more than just investment performance. 

They want quality interactions with advisors, helpful advice on how best to proceed with life events, and relevant guidance on achieving their specific goals. 

The key to success? Personalized experience.

 So, what’s holding financial advisors back? 

The top five pain points in the advisor experience

1. Siloed systems and tools
   The more time advisors spend juggling multiple systems for administrative tasks like data entry, reconciliation, and systems navigation, the less time they have to focus on adding value to the end-client experience.
2. Lack of process standardization
   Without standardized processes, there can be confusion about the correct way to complete specific tasks, especially for newly onboarded advisors. This means inefficiencies throughout the advisor network and quality control issues.
3. Lack of information to deepen client relationships
   Advisors can have trouble strengthening relationships with their clients when they lack the insights or support to individually tailor their discussions. Existing tools are unable to effectively track and provide nuanced insights.
4. Aging model doesn’t fit today’s needs
   Current systems have a heavy focus on wealth products and investment returns. However, clients and advisors are now looking for a goals-based, advice-driven model that better aligns with their needs.
5. Inaccurate data and unhelpful insights
   Only 26% of advisors currently use (or have access to) data and analytics to better understand and serve their clients. Unintegrated internal systems or third-party service providers, coupled with a lack of reconciliation among data sources across the organization means advisors can’t rely on and trust the insights provided by their existing tools.

What does all this tell us?

Advisors need an integrated digital platform that allows them to better navigate the complexities of the advisor-led client journey and intimate knowledge of their clients’ needs and preferences.

Giving advisors better operational productivity will be a key driver for future growth, a better client experience, and attracting top talent.

Building a best-in-class advisor desktop will be a critical catalyst for this future: an omnichannel, integrated digital platform that helps remove some of the complexity and manual tasks associated with current-state processes. Advisors can then spend more time doing what many of them love most about their work—deepening relationships with their clients. And they can do so equipped with better-tailored, practical insights and advisory services for every client.

Temperature check: today’s market

A need for stronger ties to one advisor
For about 35% of Canadian customers, access to a dedicated go-to person for financial management and advice is one of the drivers for switching primary banks.

Desire for total wealth advisory
Advisors are increasingly expected to provide advice across the entire wealth journey, as two out of three Canadian investors discuss with them important life goals such as retirement and buying a home.

Access to enabling tools
Advisors require robust tools and technology as table-stakes infrastructure to efficiently service and intelligently grow their books of business through insight-based recommendations.

Back to top

The advisor desktop is a one-stop shop to enable and enhance the end-to-end, front-office value proposition, employing multiple components to cover moments that matter.

Want to know how an advisor desktop could work for your organization?

Download the report

Back to top