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Cementing New Client Relationships With Effective Onboarding

By Helen Modly and Benjamin Brown
Source: Morningstar


As financial advisors, our businesses depend on developing lasting relationships with our clients. That relationship begins well before the close, and the onboarding process is a critical first test of the trust a new client places in us. Choosing a new financial advisor isn’t easy, and the timing of a potential client’s search may coincide with major life events and transitions, adding to the stress of having to make critical financial decisions. Imagine making the leap of trusting someone with your financial future as a client, only to be immediately bombarded with requests for sensitive personal information, account statements, or cost basis. Or worse, getting requests for all of this information from a firm employee you may not have even met.


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