The Internet is a treasure trove of information and insight especially for financial services professionals who enjoy web browsing. We’ve compiled a list of the top blogs for financial services professionals to follow. These blogs cover a wide range of topics such as industry news and trends, commentary and FinTech. Whether you’re an advisor, IT professional, or in an executive position for a firm, these blogs will ensure you’re well-equipped to help your clients meet their investment objectives in today’s constantly evolving landscape.
Earlier this month, several members of the IFS team had the opportunity to attend SIFMA’s Annual Operations Conference & Exhibition in Miami Beach, Florida. Not only did our team members get a healthy dose of sunshine, but they also enjoyed numerous educational sessions and panels on the latest operations and technology trends in financial services. Although it was difficult to choose, here are our top highlights from this year’s event:
As its name suggests, agile development methodology requires a level of flexibility and adaptability. Professionals from any industry who have embarked on a process automation project or solution implementation know that the success of their project is dependent on a commitment to flexibility. But this is especially true for financial services firms. Between the evolving expectations of today’s investors and the constantly changing regulatory landscape, flexibility is vital.
Last Thursday, we hosted a webinar “Effective Onboarding Practices: Improving Your Firm’s Most Critical Business Process.” In the webinar, members of our product team Ray Mulligan and Randy Barnes guides participants through the onboarding process from the front to the back office and provided tips for improving any wealth management firm’s onboarding system.
In today’s competitive landscape, financial services firms are looking to technology to improve client relationships. Two of the most common technologies used to manage the client experience are Customer Relationship Management (CRM) solutions and New Account Opening/Onboarding solutions. Some firms fall into the trap of using one technology solution to manage all of the requirements and challenges that come along with opening new investment accounts.
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.
In our recent blog post about financial services industry trends for 2016, we mentioned that one of the best ways to ensure that your firm is adapting to the constantly evolving landscape is to follow all of the industry focus groups, committees and publications.
Recent industry reports indicate that over 80% of financial advisors want to improve automation of their workflows to increase operational efficiency. Onboarding is one of the most critical yet complex and compliance sensitive processes for financial services firms.