Onboarding

Onboarding new clients is a critical step in establishing a strong relationship and setting the foundation for ongoing success. Even better is onboarding them in seconds...

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Overview

Finpace simplifies and accelerates the onboarding process, ensuring that your new clients transition smoothly from prospects to fully engaged customers within a few moments.

With automated workflows, customizable forms, and seamless data integration, Finpace helps you onboard clients efficiently while providing a personalized experience.

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Setting Up Your Onboarding Process

Finpace allows you to customize your onboarding process to suit the specific needs of your firm and clients. Whether you need to gather detailed financial information, complete compliance checks, or sign agreements, Finpace provides the tools to create a streamlined and consistent onboarding experience.

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To set up your onboarding process:

1. Navigate to Finpace > Operations > My Templates.
2. Create a New Template: Click the Import Template (if you have the corresponding json) or click the + New Template button and start working from there.
3. Customize Template Settings: Watch this video for a brief overview of template settings.
4. Customize Each Step: Use Finpace’s drag-and-drop editor to add and customize forms, documents, and tasks for each step of the workflow. For example, you can include a welcome questionnaire, a risk assessment form, and a standard advisory agreement.
5. Assign Roles and Permissions: Specify which team members are responsible for each step and what permissions they have. This ensures that the right people are involved at the right times.

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Import Template

If you'd like to import a pre-existing and battle-tested template into your dashboard, you'll need a json file.

‍Here is a video walkthrough of how to do this quickly and correctly.

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+ New Template

If you'd like to start from scratch, this video will guide you.

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Automating Onboarding Tasks

Automation is a powerful feature in Finpace that can greatly reduce the time and effort required for onboarding. By automating routine tasks, you can ensure that your onboarding process is both efficient and error-free.

To automate your onboarding workflow:

1. Go to Engagement Hub > Automations.
2. Create a New Automation: Click the + New Automation button.
3. Define Your Trigger: Choose a trigger that initiates the onboarding process, such as a new client being added to your CRM or a prospect completing an initial consultation.
4. Set the Actions: Automate key onboarding tasks, such as sending welcome emails, assigning forms for completion, and scheduling follow-up meetings. You can also automate reminders for incomplete tasks to ensure nothing falls through the cracks.

By leveraging automation, you can onboard clients faster and with fewer manual interventions, allowing you to focus on building relationships and providing value.

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Using Customizable Forms for Data Collection

Collecting the right information during onboarding is crucial for understanding your clients' needs and providing tailored services. Finpace’s customizable web forms allow you to gather all necessary client data efficiently and accurately.

To use customizable forms in your onboarding process:

1. Go to Operations > Web Forms.
2. Create or Select a Form: Choose from a library of pre-built onboarding forms or create your own using Finpace’s form builder. Common forms include client information sheets, risk tolerance questionnaires, and investment preference surveys.
3. Embed Forms in Your Workflow: Integrate these forms into your onboarding workflow so that they are automatically sent to clients at the appropriate stage. Forms can be sent via email, accessed through a client portal, or embedded in your website.
4. Auto-Populate Fields: Use Finpace’s data automation features to auto-fill known client information, reducing the time and effort required for clients to complete forms.

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Managing Client Onboarding Progress

Finpace provides tools to monitor and manage the onboarding progress of each client, ensuring that every step is completed on time and that no details are overlooked.

To track onboarding progress:

1. Go to Operations > Signing Status.
2. View Client Statuses: See where each client is in the onboarding process, including which steps have been completed and what still needs to be done.
3. Send Reminders: Use Finpace’s communication tools to send automated or manual reminders to clients who need to complete tasks or provide additional information.
4. Review Completed Tasks: Ensure all tasks are completed to your standards before moving on to the next stage. You can also set up approval processes for critical steps, such as compliance checks or document reviews.

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Ensuring Compliance During Onboarding

Compliance is a key concern during the onboarding process, and Finpace is designed to help you meet all necessary regulatory requirements. From secure data handling to automated compliance checks, Finpace provides the tools you need to onboard clients safely and legally.

To ensure compliance during onboarding:

1. Integrate Compliance Checks: Incorporate compliance forms and procedures into your onboarding workflow. This might include KYC (Know Your Customer) forms, AML (Anti-Money Laundering) checks, and other regulatory requirements.
2. Use Secure Data Storage: All client information collected during onboarding is stored securely in Finpace, ensuring that you meet data protection regulations.
3. Automate Compliance Alerts: Set up alerts to notify you of any potential compliance issues during the onboarding process, allowing you to address them promptly.

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Conclusion

Finpace’s onboarding tools are designed to make the process of bringing new clients on board as smooth and efficient as possible. By automating tasks, customizing forms, and ensuring compliance, you can provide a seamless onboarding experience that sets the stage for long-term client success.

For more detailed guidance on using Finpace for onboarding, please refer to our comprehensive video series: Onboarding Masterclass.