Select Wealth Roll Out New Online Advice Process
Select Wealth Management are pleased to announce the roll out of their new online advice process, including electronic applications and identity verification.
Select Wealth (part of the Investment Services Group), has been able to leverage its partnership with Salesforce and Davanti, one of New Zealand’s leading technology consultants, to create a bespoke adviser and client centric tool to assist advisers in navigating the advice process and streamlining the application process.
“We’ve really focused on creating a tool which allows advisers to more easily navigate the detailed advice process, making sure they can be confident about meeting all their obligations, and allowing them to focus on the most important aspect, their relationship with their client” says Debbie Tuddenham, Head of Select Wealth.
The process leads an adviser through the fact find and needs analysis process, allowing them to collect and store client information electronically. This information can then be used to provide clients with an individualised investment proposal with all the relevant information included.
There is also a range of tools to assist advisers in identifying clients’ risk tolerances, goals and objectives and to provide projections based on clients’ current positions. This allows advisers to have meaningful discussions with clients about where they want to be in the future, and what they need to do to get there.
Debbie notes that “one of the major frustrations advisers were telling us they faced was the requirement to duplicate information over and again. The great thing about this process is that all of the information you have already captured is used to automatically populate the application form. For clients who choose to, advisers can also email them the form for electronic signing, which is then submitted directly for acceptance by our Administration team. We’ve partnered with APLYiD to enable advisers to send clients a text link to electronically verify their identity from their smartphone in less than five minutes”.
Andrew Kelleher, Director of Select Wealth, says “We’ve tried to take as many of the pain points out of the process as we can, by creating a tailored, streamlined experience which makes it easier for advisers to concentrate on what matters most; their clients’ needs and objectives. This and other initiatives which will complement the services offered by Select Wealth Management put us in a really strong position in the market to assist advisers to continue to operate and thrive within the new regime we are all working in.”
Select Wealth Management is a wholly owned subsidiary of the Investment Services Group. The Investment Services Group is a New Zealand firm focussed on supporting and growing financial services firms using best practice. Select Wealth currently manages close to $800m of client funds across over 150 advisers throughout New Zealand.