Meet the needs of green investors by digitizing your wealth management communications. Read on for proven strategies to increase eDocument uptake



How wealth management firms can meet their emission goals while retaining, or improving client experience

In the wealth management sector, the conversation around “going green” and reducing emissions is getting more urgent. Clients, especially younger clients, are expressing an increased level of interest in environmental, social and governance (ESG) investing. Wealth management firms recognize the need to respond to public pressure by exploring ways to decrease or eliminate their carbon emissions. After all, clients who prefer sustainable investments naturally hope that their wealth management firms will implement sustainable practices within their own walls as well.

If your firm is trying to meet the needs of these environmentally conscious investors, chances are very good that carbon-emission reduction is now a high priority for you as well. So, what are some pragmatic ways to meet your emission goals while retaining, or improving your client experience? The answer could be as close as your clients’ mailboxes – consider digitizing your wealth management communications.

Is your wealth management firm ready to deliver a consistently positive client experience across all channels while also easing the shift to paperless and moving towards your emission reduction goals?

How to increase eDocument uptake

Sustainability is top of mind for many clients today, and they have an increased level of comfort with technology, making it increasingly likely that they will consider eStatements and eDocuments. By making it easy to “turn off the paper” and showcasing how digital communication helps the environment and improves the client experience, you can achieve paperless adoption rates that would have been unthinkable a few years ago.

Here are a few proven strategies to increase eDocument uptake at your wealth management firm:

  • Ask your clients for their email addresses at every touchpoint
  • Make ‘email address’ a mandatory field on all application forms
  • Send out an eWelcome Pack – useful numbers, office locations, how to read your statement, etc. via email to every new email address/client you have; include lifecycle messaging in your online strategy
  • Make eStatements the default for all new accounts and use transactional messaging to further reduce paper communications

Remember, your clients increasingly want to hear and be part of your corporate sustainability story. It feels good to be part of a change that helps the planet. Moving to digital communications is a simple way for clients to contribute to your sustainability initiatives, so don’t be shy about asking them to consider it.

How to reduce the carbon footprint of your printed communications

Wealth management firms understand that while many clients will embrace digital communications, there will always be clients who prefer paper communications, or communications that must, by law, be provided in print. The good news is that there are still ways to reduce your carbon emissions while generating these communications.

Operating an in-house print shop can often lead to inefficiencies and increased costs, both in terms of dollars and in terms of environmental impact. One way to avoid these pitfalls is by working with an environmentally responsible Customer Communications Management (CCM) vendor. This way, you can increase the efficiency of your print communications by leveraging modern equipment, resilient processes, and deep expertise for quality. This, in turn, can offer a lower carbon footprint than running older equipment in house, or having to reprint documents that don’t meet quality standards.

Ecologically conscious wealth management firms are also advised to find a vendor which will print on Forestry Stewardship Certified (FSC) environmentally friendly paper stock and offer householding (delivering multiple combined documents, related to different members of the same household, in a single package) to further reduce environmental impact.

How doxim helps wealth management firms meet their emission reduction goals

At Doxim, we are proud of the ways in which we help our clients work towards their emission reduction goals. For example, by enabling clients to deliver eStatements to their clients, in 2020 Doxim CCM (Customer Communications Management) helped drive positive impact for our environment and communities:

  • Saved 145,800 trees
  • Eliminated 6,075 tons of paper waste – an equivalent of paper waste produced by 17,860 people in the US annually
  • 130MM gallons of water conserved - an equivalent of annual water consumption of over 400 Americans or running 93,700 laundry cycles
  • 45MM kWh of electricity saved - enough to power 4130 homes for a year
  • 109MM pounds of CO2 - the amount produced by 9,910 cars in a year

All wealth management clients have a common thread—they expect a positive and seamless communication experience, regardless of their position on the paperless adoption curve. By working with Doxim, your wealth management firm can ensure these needs are met while reducing the carbon footprint of both your digital and paper-based communications.

Let’s discuss how Doxim CCM can help your wealth management firm achieve its emission and client experience goals

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Scott Biel, VP Sales, Financial Services North America at Doxim

Scott Biel

VP Sales, Financial Services North America at Doxim

Scott has 25 years of experience in Customer Communications Management (CCM), with a primary focus on delivering exceptional results for the financial services industry.

In his current position as VP Sales, Financial Services North America, Scott leads a team of sales executives who sell Doxim solutions to the financial services industry, including Wealth, Insurance, Banking and Credit Unions.

Scott leverages his extensive knowledge of CCM, regulated and financial services to improve customer experience, drive operational effectiveness and achieve cost optimization through digital technologies.