THE ART OF FINANCE

3

Upgrading Digital Infrastructions and Capabilities

Client expectations surrounding transparency and delivery of information are leading firms to invest in their online portals. Those with higher net worth clients see it as less of an imperative, though, as clients “don’t want to look at it every day,” or they’ve paid someone else “to worry about it.”

How do you solve it?

For wealth management or financial institutions, DYL’s system makes it easier to foster trusting relationships with clients. DYL is completely cloud based so what you send is completely digital and secure. Financial institutions can also send legal documents within DYL.

4 Outsourcing for Profit and Growth

According to most firms, profit and growth will come from within. They believe that the secret to success is upholding the quality of their own proposition by focusing on their core skills.

As a result, outsourcing is done by firms at varying degrees, offering significant cost efficiencies and allowing firms to focus on what they do best. Wealth management firms are facing a number of challenges that if not confronted, have the opportunity to put the industry under threat.

However, it also produces a number of exciting openings and when approached in a sensible manner, can pay dividends for a firm.

How do you solve it?

If an institution uses outsourcing for growth, you can use our Agent Monitoring feature to monitor staff members.

You’ll receive reports via the DYL Reporting Section, where you can see the number of texts sent, how many calls team members have made, and more.

DYL also allows you to see incoming leads from any campaign through it’s filtering section. This will allow management to see if their advertising is paying off and how many conversions they’re generating.

5 Embracing Online-Advice

Executives do not see face-to-face client interactions going away, but they understand the growing need for digital self-service models.

Wealth managers will need to have an omni-channel strategy in order to serve a range of customer needs, as when it comes to significant investment decisions around matters such as pensions, face-to-face will still be required.

How do you solve it?

DYL’s system has an IVR which will route clients to the correct person. Whether they need to talk with management, or someone else.

While on call, team members can use DYL’s Voicemail Drop to leave prerecorded messages whenever they reach a prospects voicemail box.