Some of the greatest challenges operations professionals face at financial services firms stem from fragmentation between front and back office systems and staff. This fragmentation can be especially costly during the onboarding process, when these two departments must work in orchestra to open and fund new accounts in a timely manner. Without the necessary tools and practices in place to unify front and back office staff, the onboarding process is susceptible to inefficiencies including administrative errors and lack of or miscommunication. As a result, the amount of time it takes to open accounts is increased, customers become frustrated and valuable staff are caught up in administrative functions instead of value-add ones.
Since onboarding is such a critical process with so much at stake, it’s imperative for front and back office staff and systems work together for the benefit of the client or investor. When this happens, communications and service levels will increase, visibility into the process will be enhanced and systems will be easier to use.
If you’re interested in learning more about how you can improve your firm’s onboarding process, download our webinar from March 3, where we discussed the nuances of onboarding for both front and back office personnel, and explored how to make these processes more efficient. The webinar also:
- Offers a healthy dose of onboarding best practices
- Provides a prescription for improving your firm’s onboarding processes and practices
- Interactive Q&A with the Onboarding Experts
This webinar is ideal for retail brokerage representatives who work in operations, COOs, VPs of Operations, Directors of Operations, or other operations professionals of brokerage and wealth & trust firms.
Download your free copy of the webinar by clicking the button below: