The quality of wealth managers’ client onboarding processes has never been so important, as firms simultaneously seek much-needed improvements across client experience, efficiency and risk management.

Client onboarding stands at the intersection of wealth managers’ most pressing compliance, efficiency and client experience concerns. Yet, according to Fenergo research, compiled in partnership with Wealth Briefing, onboarding times have steadily increased over the past five years, due to a lack of digital advancement and significant technological barriers.

  • Wealth management firms globally are struggling to onboard new clients within four weeks for a standard HNW individual
  • Over half (52 percent) of wealth managers are concerned about the rate of client drop-outs
  • 80% admit having made poor to no progress in achieving an integrated, straight-through onboarding process
  • Regulatory requirements are hindering onboarding with more than half (55 percent) suffering serious cross-border compliance pain.

How can wealth management firms rethink and re-engineer their onboarding processes to attract the next generation of HNW investors?

Download the full report to discover the state of HNW client onboarding globally