Revolutionizing wealth management: the power of Guided CX

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In the world of wealth management, providing personalized and seamless experiences for clients has become paramount. Today, clients expect more than just financial advice—they demand tailored solutions and real-time guidance that cater to their unique needs and preferences. 

Guided Customer Experiences (CX), a transformative approach reshaping the industry, blends traditional in-person service with innovative digital solutions. Let's explore the current state of wealth management and how this approach is revolutionizing the industry.

The changing face of wealth management customers

A historic transfer of wealth between generations is currently unfolding, marking the largest intergenerational shift in history. By 2043, an estimated $68 trillion will transition to succeeding generations, a phenomenon often referred to as "The Great Wealth Transfer" by industry experts.

What does this mean? It means that traditional wealth management clients are increasingly being replaced by a new generation—a generation with different priorities and preferences. Millennials, in particular, are emerging as a significant force in the wealth management landscape, seeking personalized and technology-driven solutions that align with their digital-native lifestyles.

The digital revolution: introducing Guided Customer Experiences (CX)

Enter Guided Customer Experiences (CX)—a blend of in-person and digital interactions that empower financial advisors to deliver personalized consultations and investment guidance through virtual meetings. 

What sets Guided CX apart is the ability for advisors to view the client's browser or app screen during the session, enabling them to provide tailored guidance while clients trade and transact. This level of interactivity not only enhances the client-advisor relationship but also fosters a deeper understanding of the client's financial goals and preferences.

Leading solutions like Glance offer seamless integration of digital investment management, enabling advisors to connect with clients on desktop or mobile devices in real-time.

Key features of Guided CX:

  • Real-time interaction: Advisors can launch sharing sessions with just a click, presenting portfolio performance and investment options in real-time.
  • Screen sharing: Advisors can view the client's browser or app screen during the session, providing tailored guidance while clients trade and transact.
  • Human touch: Through voice or video, Guided CX brings the power of human connection to your virtual meeting.

How wealth management advisors use Guided CX

Wealth management advisors can leverage Guided CX as a powerful tool throughout the client journey, from acquiring new clients by showcasing expertise and fostering engagement to streamlining onboarding processes, resolving customer issues, and providing personalized guidance to address client questions and concerns with clarity and precision.

Acquiring clients

When it comes to acquiring new clients, Guided CX offers wealth management advisors a powerful tool to showcase their expertise and build trust from the outset. By leveraging features such as real-time screen sharing and co-browsing, advisors can provide personalized demonstrations of investment strategies, portfolio performance, and potential outcomes. This interactive approach not only demonstrates the advisor's value proposition but also fosters meaningful engagement with prospective clients, ultimately increasing conversion rates and growing the client base.

Onboarding new clients

Streamlining the onboarding process is essential for delivering a seamless client experience and establishing strong relationships from the start. With Glance Guided CX, wealth management advisors can collaborate with clients in real-time to navigate complex forms, explore investment options, and facilitate the submission of required documentation. By guiding clients through each step of the onboarding process, advisors can reduce friction, minimize errors, and accelerate time-to-value, ensuring a smooth transition into the advisory relationship.

Resolving customer issues

In the realm of wealth management, providing timely and effective support is crucial for maintaining client satisfaction and loyalty. While self-help resources and chatbots can address simple inquiries, complex issues often require personalized assistance from a knowledgeable advisor. Guided CX empowers wealth management agents to visually diagnose and troubleshoot customer issues in real-time, leveraging screen sharing and collaborative tools to deliver targeted solutions efficiently. By resolving issues promptly and effectively, advisors can enhance client confidence and strengthen long-term relationships.

Answering client questions

In the dynamic world of finance, clients often have questions or concerns about their investments, financial goals, or market trends. Guided CX enables wealth management advisors to address these inquiries with clarity and precision, leveraging real-time collaboration tools to share relevant information, illustrate key concepts, and provide actionable insights. By offering personalized guidance and expert advice, advisors can build trust, deepen client engagement, and drive positive outcomes for their clients' financial futures.

The value proposition: trust, transparency, and engagement

Wealth management advisors know that trust is their most valuable asset. With Guided CX, clients can get the online experience their lifestyle demands without sacrificing the valuable, in-person connection they get in-person. 

Instead of deciphering emails or trying to follow your presentation, clients are able to go on an immersive, collaborative journey. It’s empowering to both the advisor and the customer, putting you on the same page and improving confidence. The result? Strengthened client relationships and better outcomes.

Embracing digital transformation

To fully leverage the potential of Guided CX in wealth management, financial advisors must embrace digital transformation as an opportunity to enhance their service offerings. This requires staying abreast of the latest trends and innovations in wealth management and prioritizing continuous learning and skill development.

As the industry continues to evolve, Guided CX is poised to become the new standard in wealth management. By leveraging the power of technology to deliver personalized, real-time guidance, financial advisors can navigate the complexities of today's market with confidence and empower their clients to achieve their financial goals.

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