Why Wealth Management Technology Solutions Should Include Client Communications

by | May 19, 2021

Client Communication In Wealth Management Must Evolve In Line With Current Client Expectations

Client communication in wealth management must be a top priority for providers seeking wealth management technology solutions, as so much of the provider’s relationship with an investor is built on trust. Timely, relevant, accurate, and useful information, communicated when the client needs it, is the foundation of a strong relationship.

Today’s consumers, however, expect wealth management companies to provide the same level of seamless, personalized experience as they receive from digital experts like Amazon, Uber and Apple Pay. Providers that do not step up to meet these evolving expectations through innovative wealth management technology solutions are at risk of losing clients to those that do.

Of course, competition for share of wallet is fierce as self-service investment platforms offer more functionality at low cost and traditional wealth providers battle to own a bigger piece of the investment pie.

Wealth management firms are seeing a shift in what is considered great CX

Investors are no longer looking for the traditional high touch, personal relationship with their wealth manager for all their wealth needs. Direct investing platforms are addressing client expectations around immediate self-service by enabling them to open accounts in minutes, access statement summaries online and so much more.

To offer a great CX, institutions need to address the full client journey, from investigation to onboarding, service and retention. At each touchpoint, it is critical to provide the client with the choice of how they want to engage, and the ability to switch between high touch and high-tech channels.

It is also critical to make the transition between channels as seamless as possible and ensure that the client experience is positive throughout.

Great CX is grounded in the elusive single view of customer communication


When it comes to client communications in wealth management, providers must collate data from various sources within their ecosystem, normalize it, process it and create personalized messaging that includes documents like client statements, trade confirmations and tax slips.

Single view of wealth management client scaled

When dealing with a myriad of data formats and source environments, as well as complex operational systems, it is no surprise that many wealth institutions find it difficult to achieve that elusive single view of client communications.

But, without a view of every communication that a client is receiving, the institution has no starting point when it comes to enhancing client experience through communication. With little insight into the scope of the problem, the resolution becomes even harder to define.

Traditional wealth management companies need to invest in retaining the clients they already have, while also providing the services and experience that will increase the share of investor portfolios and attract new clients. An all-inclusive Customer Communication Management (CCM) platform can go a long way to achieving this goal.

How a Doxim solution can boost client communication in wealth management

Doxim CCM is a robust, single-source technology platform with a wide array of functionality and features built specifically for the wealth management industry. Using the CCM platform, and taking advantage of Doxim’s consulting and advisory services, wealth management companies can speed up digital transformation and enhance customer experience across all channels, print and digital. GET IN TOUCH WITH A DOXIM CCM EXPERT

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Scott Biel
Chief Revenue Officer
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 CRO, Scott oversees all revenue-generating activities and works closely with executive leadership, sales, solutions and partners, to develop and execute a revenue strategy that further positions customers and the business for maximum shared success. He leverages his extensive knowledge of CCM, regulated and financial services to improve customer experience, drive operational effectiveness and achieve cost optimization through digital technologies.

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