Read what an end-to-end digital experience for investors looks like, the challenges and how wealth management firms can achieve it



How wealth management firms can achieve an end-to-end digital experience for investors

The wealth management industry was built on a high touch model, with interactions founded on personal relationships via face-to-face meetings between advisors, investment counselors, and investors. However, as the financial services industry adopts digital services and communication, advisors and investment counselors must also shift their investor engagement approach.

For many wealth management firms, ‘going digital’ has meant introducing digital alternatives for a selection of their processes, usually deploying point solutions to digitalize certain investor journeys.

What is really needed is a full, end-to-end digital experience that is consistent across channels and journeys. To do this, wealth management firms need a strategy to digitally transform their communications in a way that anchors the investor experience.

Doxim understands the unique requirements of the wealth management sector and can advise on how to digitally transform investor communication using built-for-purpose solutions

Here is what an end-to-end digital experience looks like for investors:

  1. Investor onboarding - investor can complete the forms and sign the necessary paperwork digitally (eSignature)
  2. Welcome kits – investor receives a digital welcome kit with all the information he or she requires to get full value from the services
  3. Transactional messages – investor has the option of receiving transactional messages (trade confirms, notifications, etc.) via a choice of channels
  4. Regulatory documents – investor enjoys the convenience and security of accessing statements, correspondence, and tax certificates electronically, more security and an easy storage option for future reference
  5. Operations – a secure portal for investors to self-serve when they want to perform simple tasks or transactions in their own time from the convenience of their own device

The best experience is one in which the investor can select how they want to interact with their wealth management firm at each point in the journey.

The challenges to providing an end-to-end investor experience

There are significant challenges to achieving a great end-to-end investor experience. A single view of investor activity and engagement is fundamental to providing a seamless and consistent experience no matter where or when the investor enters a journey. But, when operating with outdated technology and legacy systems that do not integrate with modern technologies, getting a single view of investor data across all platforms is tough.

Another challenge is dealing with complex vendor relationships that result in a structure made up of technology pockets, rather than an orchestrated investor engagement hub. Managing multiple vendor relationships is time consuming and operationally inefficient.

Then there are regulatory requirements that the wealth industry must comply with, adding a layer of complexity when introducing or integrating new platforms.

How Doxim enables an end-to-end digital experience for investors

Doxim helps wealth management firms transform legacy processes into digital experiences, not least by automating manual, paper, and content-intensive processes. Our wealth management solutions improve the investor experience, significantly reduce costs, drive efficiencies, and ensure compliance.

Doxim experts understand the unique requirements of the wealth management sector and can advise on how to digitally transform investor communication using built-for-purpose solutions. Doxim already partners with dozens of enterprise wealth management organizations across North America, helping to strengthen relationships through an enhanced investor experience.

Doxim’s Customer Communication Management platform is a robust, single-source platform with a wide array of functionality and features that were developed to meet the needs of the wealth management industry.

Take advantage of Doxim’s consulting and advisory services and CCM platform to speed improve investor experience across all channels, print and digital.

Let’s discuss your wealth management organization’s unique customer communication requirements

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Erin Romo, Vice President, Utilities Vertical Lead

Erin Romo

Vice President, Utilities Vertical Lead at Doxim

With over 15 years of experience in providing information technology and services to the utility sector, Erin's expertise extends across project and operations management, as well as sales and account management.

Erin was Director of Customer Solutions at Utilitec, (acquired by Doxim in 2019) having been with the company for 15 years. Prior to that, she worked as a Project Manager at MSX International.