Streamline onboarding for multi-account, multi-owner setups—effortlessly with AI
The Hidden Cost of Complex Onboarding
In the Wealth Management industry, onboarding new clients should be the beginning of a trusted, long-term relationship. Yet, for many firms, it’s the moment when friction, complexity, and inefficiency sneak in — especially when the client carries multiple accounts, or there are multiple owners involved. Multiple forms, repeated data entry, blocks in account funding, e-signatures, KYC, AML checks, shared or individual ownership structures… the paperwork and processes quickly pile up. The result? Frustrated clients. Delayed investments. Lost opportunities.
Industry data shows this friction still looms large: financial services firms report that more than 40% of a client’s onboarding time is consumed by identity verification and account-opening paperwork alone.Meanwhile, nearly 30% of wealth management firms take three months or more to onboard ultra-wealthy clients — a delay that translates into idle capital, delayed advisory fees, and risk of attrition.
If your onboarding process can’t handle complexity — multiple accounts, shared ownership, compliance demands — you’re not just losing efficiency. You’re also risking client trust and potentially revenue.
Why Traditional Onboarding Fails in Complex Scenarios
Wealth education, service models, regulation and client expectations have evolved dramatically. Clients now expect digital-first onboarding, real-time engagement, and transparency even in complex cases.At the same time, firms are under pressure from compliance requirements (KYC, AML), and the rising competition from nimble FinTech and WealthTech players offering slick digital experiences.
Traditional onboarding workflows — multiple forms, manual data entry, repeated requests, hard-copy signatures, and disjointed systems — struggle under complexity. For multi-account and multi-owner setups, these workflows often spiral into delays, data duplication, confusion, and compliance risk. Clients might see repeated requests for the same information. On the other hand, advisors juggle multiple systems. And often, there’s no single snapshot of where the onboarding process stands — leaving clients in the dark.
What do all these lead to? higher operational costs, slow time-to-value, client frustration, and even drop-offs before account activation.
One Unified, AI-Powered Approach to Smooth Investor Onboarding
The latest investor onboarding solutions, powered by cognitive technologies like Artificial Intelligence (AI), are built to simplify even the most complex investor setups. Whether your clients open multiple accounts at once, or the accounts have shared or individual ownership, these solutions handle it with ease.
With AI-powered onboarding solutions, you get:
- A single unified workflow that supports multi-custodian account creation and multiple owner structures simultaneously.
- Smart, personalized and adaptive data collection that avoids unnecessary duplication — clients enter information only once, even if they open several accounts.
- Integrated compliance checks (KYC, AML), digital verification, and e-signature support, enabling true Digital Onboarding rather than a hybrid or manual process.
- Automated orchestration that reduces manual interventions and accelerates time-to-value for advisors and clients alike.
Why It Matters — For You and Your Clients
By adopting AI-powered onboarding solutions, Wealth clients — whether individuals, families, or entities — experience a smooth, transparent, and efficient onboarding process. Advisors no longer lose hours to paperwork or redundant data entry. Firms reduce compliance risk, accelerate account activation, and cut operational costs.
For clients opening multiple accounts or involving multiple owners, what once felt like a chore becomes effortless. You deliver on the promise of a premium, personalized experience — from day one.
If you’re ready to transform investor onboarding from a bottleneck into a competitive differentiator, let’s talk about how our AI-powered Unified Onboarding solution can help.