How Proposal Automation is Changing the Game for Wealth Advisors
In today's crowded wealth management market, firms are constantly competing to stand out. Most of them focus on their client service, claiming it’s superior to everyone else’s. But what about client onboarding? Rarely does anyone emphasize how seamless and efficient their onboarding process is, yet it's a key part of the overall client experience. People naturally share major changes in their lives—marriage, new jobs, retirement, or even a new workout plan. I’d argue they also share when they get a new advisor. Proposal automation is pushing the client experience forward, making it so seamless that prospects and clients will want to talk about it.
Client onboarding should be akin to the conveniences people now expect in their daily lives. We live in a world where friction is constantly being removed. Take the evolution of credit cards, for example: they started by enabling purchases on credit and have evolved into tap-to-pay systems that eliminate even the smallest hurdles. You can probably think of similar examples in your own life. So why are we still relying on outdated practices in wealth management, such as manual statement collection and tedious fact-finding?
Overvue automates key aspects of the proposal process, reducing friction for both advisors and prospects:
Aggregate Prospect Accounts: Overvue collects and consolidates all the prospect's financial data in one place, so advisors no longer need to manually gather assets and accounts. This speeds up the data collection process.
Automates Investment Proposals: The software generates proposals based on the advisor’s chosen model strategies and client profiles. Overvue models prospect portfolios without the heavy lifting, producing a complete report that outlines the prospect's entire investment portfolio.
Provides Strategic Recommendations: Overvue goes beyond automating data entry—it helps advisors create impactful recommendations and calls to action, making it easier to guide prospects toward decisions.
These automations relieve the advisor team from much of the heavy lifting involved in client acquisition. More importantly, they reduce friction for the prospect. The experience becomes faster, more efficient, and effortless. Prospects enjoy the same level of convenience they’ve come to expect in other aspects of their lives.
Overvue is not just a tool for saving time; it serves as a catalyst for growth. With the right systems in place, your client onboarding process could become an experience worth sharing.