Data-Gathering

Data-gathering is a critical component of your workflow, and Finpace is designed to make this process as efficient and seamless as possible.

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Overview

Data-gathering is a critical component of your workflow, and Finpace is designed to make this process as efficient and seamless as possible.

Whether you're collecting information from prospects during onboarding, updating client details, or conducting surveys, Finpace streamlines data collection across all stages. Our platform ensures that once data is captured, it can be reused and accessed whenever and wherever it's needed.

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Creating and Deploying Web Forms

Web forms are the backbone of data-gathering in Finpace. They allow you to capture customer information quickly and accurately, reducing manual data entry and minimizing errors.

To create and deploy a web form:

1. Navigate to Finpace > Operations > My Templates.
2. Create a New Form: Click the + New Template button and choose from a selection of pre-built templates or start from scratch.

1. Customize Your Form: Use our intuitive drag-and-drop editor to add, remove, or rearrange fields according to your specific needs. Whether you’re gathering basic contact information or detailed financial data, you can tailor the form to fit your requirements. For our detailed video series on this, please go here: Templates Masterclass.
2. ‍Deploy the Form: Once your form is ready, deploy it by sharing the public URL via email, embedding it on your website, or integrating it into your onboarding process. For more on how to do this, see this article: Using Forms via Public URL

Forms can be configured to automatically populate fields with existing customer data, ensuring a smooth experience for your clients and reducing the need for repetitive data entry.

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Reusing and Accessing Captured Data

One of the key benefits of using Finpace for data-gathering is that once data is captured, it’s stored securely and can be reused across different forms and processes, anytime, anywhere. This eliminates the need for clients to provide the same information multiple times and ensures that your records are always up-to-date.

For example:

• Onboarding: When a prospect fills out an initial form, their data is automatically saved and can be used later when they become a client, streamlining the transition process.
• Client Service: If a client needs to update their information, they can do so through a form, and the updated data will be reflected across all relevant documents and records in Finpace. They will simply confirm that everything is either correct or in need of a change. No redundant work!
• Compliance: Ensure that the data collected meets compliance requirements by integrating Finpace’s forms directly into your workflow, allowing for automatic checks and validations. You, team and customers are unable to move forward unless data is collected correctly the first time, thus mitigating (if not eliminating) NIGOs.

To access and reuse captured data:

1. Search for a Customer: Use the search function to find a specific customer or filter by tags, dates, or form types.
2. View or Export Data: Click on a customer’s name to view their data, or export it for use in other applications or reports.

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Automating Data-Gathering

Finpace offers automation features that can significantly reduce the manual effort involved in data-gathering. You can set up automations to trigger forms based on specific customer actions, send reminders for incomplete forms, or automatically update records when new data is received.

To set up automation for data-gathering:

1. Navigate to Engagement Hub > Automations.
2. Create a New Automation: Click the + New Automation button.
3. Define Your Trigger: Choose a trigger, such as a new customer signing up or a client reaching a specific milestone.
4. Set the Action: Specify the action, such as sending a form, updating customer data, or notifying your team of the new data.

Automations ensure that data-gathering is not only efficient but also consistent, helping you maintain accurate and complete records without constant manual oversight.

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Tracking and Managing Data-Gathering Activities

Finpace provides tools to track and manage all your data-gathering activities. You can monitor the progress of forms, see who has completed their submissions, and follow up with customers who haven’t responded.

To track your data-gathering activities:

1. Go to Finpace > Signing Status.
2. View Form Statuses: See a list of all active forms, their statuses, and the customers who have interacted with them.
3. Follow Up: Use the built-in messaging tools to send reminders to customers who haven’t completed their forms or to acknowledge those who have. For two ways to do this, please watch this video: Messaging Tools for Customer Engagement

This centralized view allows you to stay on top of your data-gathering efforts, ensuring that no detail slips through the cracks.

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Example Workflows: 

Pre-Meeting Questionnaire (PMQ)

The PMQ is one of Finpace's most popular and widely used forms for both prospects and clients. Below, you can see the structure behind finding success with this form, just as other high-performing advisors have done:

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Suitability Questionnaire

The Suitability Questionnaire is essential for ensuring that your clients’ investments align with their financial goals, risk tolerance, and personal preferences. With this workflow, advisors can seamlessly gather suitability data from clients, ensuring compliance with regulatory requirements while providing tailored recommendations. Here's how it flows:

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• Automated Reminders: Clients are automatically reminded to complete the form before key meetings.
• Real-Time Data Sync: Data gathered is immediately integrated into your CRM and client profile for further analysis.
• Compliance Reporting: Automatically generates reports for regulatory compliance.

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Digital Onboarding

The Digital Onboarding workflow is designed to make the client onboarding process as smooth and efficient as possible.

From collecting key information to verifying client identity and preparing agreements for signing, this workflow ensures everything is handled digitally and with minimal manual intervention.

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• Auto-Generated Forms: Onboarding forms are auto-populated with available client data, reducing manual entry.
• E-Signature Integration: Clients can easily sign advisory agreements and disclosures online with secure e-signature tools. Or you can use Finpace's E-Sign!
• Compliance Checks: Built-in compliance measures ensure all required documents and forms are completed properly before the onboarding is finalized.

These workflows come pre-built in Finpace, allowing you to focus on building relationships, less time working and/or more time doing what you please while automating essential processes.

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Conclusion

Finpace’s data-gathering tools are designed to simplify and streamline the process of collecting and managing customer information.

From creating and deploying customized web forms to automating the data-gathering process and reusing captured data, Finpace ensures that you have the information you need, when you need it. This not only saves time but also enhances the customer experience by reducing repetitive tasks and improving accuracy.