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A wealth management client portal is essential for those overseeing large financial assets. Many industries are transitioning towards digital client management to help provide a high quality and consistent service, and the financial services sector is not an exception. But as the industry becomes more modernized and deals with complicated client matters online, there is an increased need for streamlined and organised client management techniques. 

Historically, financial consultations would be done in person, in a private office between client and financial advisor. Now businesses like wealth management firms are utilizing technology to ensure their high net worth clients are happy at all times. Using a client portal such as Clinked, has many benefits to wealth management firms choosing to go digital and we will explore them today in this blog.

How will a client portal assist in wealth management?

The wealth management industry has grown as more people are developing affluence, with the Boston Consulting Group estimating there were $89 trillion of global assets under management in 2019. As the industry grows, technology can step up to better assist in processing wealth management clients' needs.

A client portal can assist in delivering all types of wealth management services including tax planning, wealth protection, estate planning, investment management and will writing. It can streamline processes whilst ensuring data is safe and secure from prying eyes. You can find out more in our previous blog on the safety of a client portal to see just how secure a Clinked client portal is.

Why do I need a wealth management client portal?

As well as increasing productivity and creating efficiency, there are many other benefits for wealth management companies to use a client portal. An important one is that the client has 24/7 access to data and information, so if information is needed late at night, they can simply sign in and retrieve it themselves. Not only this, most client portals are cloud based and some, like Clinked, even have a mobile app, making the platform completely mobile and accessible, anywhere anytime.

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Wealth management client portal essential features:

File management and Document Sharing

Wealth Management Client Portal tablet workingWorking in wealth management means handling sensitive information for your clients. Whether it’s proof of identity, confirmation of address, or bank statements, these documents need to be securely shared. Sending documents like this via email runs the risk of a data breach or a hacking attack. Within the Clinked client portal, you have the option to upload and download files, approve and deny documents, create structured folders and comment, like and annotate on files. Clinked is also fully integrated with DocuSign and Adobe Sign, meaning that you can request legally binding signatures within your private online client space. 

User Based Permissions

With sensitive information comes risk, and a great way to protect this information is to have user based permissions applied. A client portal should have tight controls over who is able to access what. When you invite people into your portal in Clinked, you can invite them with different access levels, for example if you wanted a user to only have the ability to view and download documents or if you wanted the user to have full administrative rights. This helps to ensure that changes are only being made by people who are authorised to do so. You can even set permissions on temporary members within the Clinked client portal.

Audit Trails & Accountability

Wealth Management Client Portal audit buttonWorking in such a high stakes industry means that full accountability is needed, both on the client's side and the company side. The best way to have accountability is to ensure your client portal has an audit trail feature so you can keep track of all activity happening within the portal. From editing calendar events to moving and deleting documents, everything is tracked so that you can stay on top. The Clinked client portal has an audit trail that can be searched and indexed, everything down to the IP address is recorded and saved! These records can also be printed off or or downloaded and saved.

So now that you are aware of how a wealth management client portal can be a huge benefit for firms and if you’re dealing with high net worth clients who require a professional and secure online workspace, a client portal could be for you.

If you’re considering investing in a client portal but aren’t sure if it’s the correct fit, we have a 10-day free trial at Clinked to help you decide, or feel free to reach out to our friendly team for a demo or even just a chat!


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