Transforming the client-advisor relationship with technology

October 01, 2018 by Alex Noonan

About the author

Alex Noonan

Technical writer

Joining Advicent as a partner support specialist in 2013, Alex provided high-quality support for partners within NaviPlan and Profiles. In 2015, he took that product knowledge to the learning development team as a technical writer, creating detailed documentation for partners with a practical focus on what they need to know. Alex received a BSBA from Drake University in Marketing/Advertising Creative in 2013.

Onboarding a new client can be an intensive process with meetings, data collection, and conversations over your client’s goals and dreams. This process can seem overwhelming, especially to your younger clients who may be experiencing financial planning for the first time. Fortunately, there is an engaging way to make this process easier for you and your client, with the NaviPlan client portal.

The client portal

The client portal enables your clients to directly provide the information needed to assess their financial health and start the planning process. It automatically compiles the data and gives them immediate feedback on their current financial state in a dynamic digital portal they can access at any time.

The client portal is accessed with a simple name and email, and the data required can be configured to meet the client’s goal needs. This setup process is simple and can be done while the client is in your office. New clients are able to enter data at their own pace at home, avoiding the lengthy hassle of data collection meetings or sending documents back and forth.

Even after clients have sent information to you, they can update or add more information to their profile at any time. You will be notified when this occurs to apply the changes to their plan. The client portal allows the data entry process to become an electronic conversation between you and your clients.

Tracking progress

The client portal is a live updating page, allowing for clients to not only quickly add data to their financial plan, but also to monitor their current financial goal progress. Clients are able to manually adjust variables to mock possible life scenarios and see which strategies could be implemented in those cases.

Completed plans can be delivered right through the client portal, where clients can visualize their net worth, goal progress, and cash flows over time. The basic variables of different goals (such as retirement age, retirement expenses, etc.) are adjustable and will show graph changes in real time. These visual tools give clients a better idea of how their goals are coming together, get them more engaged in their financial health, and empower them to ask informed questions during your meetings.

The client portal is more than just a data entry tool or a progress-tracking tool. It is a conversation piece that helps build trust and the client relationship, giving you a competitive edge.

To learn how a financial planning and wealth management firm increased revenue, reduced expenses, and nearly doubled conversion rates using NaviPlan, click here.