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Client Reporting in Wealth Management


Introduction • One of the most valuable assets to any wealth management firm are their clients. Without them, there wouldn’t be a business to run. That being said, it’s critical that you provide as much value to them as possible and one of those is through client reporting. • Depending on the type of client, this may be the only contact you have with them on a regular basis. On the other hand, you may have a new client that has a minimal understanding of investing and information needs to be laid out simply.


Key Areas of Client Reporting

Visualization s.

Customization

Automation


01. Visualizations • A way to help keep your clients happy and in the know is through visualizations. For many, reading the numbers can seem foreign, but with the right graph or infographic, you can have their information in a way to make it easily digestible. • Some areas of client reporting in Wealth Management include asset allocation, return on assets and asset type. Having these properly displayed in an easy to read graph to alleviate stress when it comes time to send out reports or statements.


02. Customization • Another way to make your reports and statements beneficial to both you and your client is knowing you have a level of customization. This works in two ways because first, your client may only want to see a few items beyond what’s standard. • Knowing this can make it simple to communicate and ensure your clients trust your brand. On the other hand, if you need to build a custom report for a high net worth individual that contains additional information from a middle-ranged wealth bracket, you can do so with ease.


03. Automation • Lastly, automating the process of client information saves you time and in turn, money. Having the ability to generate a plethora of reports at any given moment, you can rest easy knowing you can meet your client’s demands. • Also, if you need to build out existing reports you can do so and still have those changes automatically be pushed out once finalized.


Conclusion • Client reporting continues to be the main point of contact and must be considered when building a relationship. Take time to know what you currently have and if you can improve. • Through customizable reports, easy to digest visualization and automation, you can know your clients are being properly served and given the most value possible.


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Client Reporting in Wealth Management Industry  

A good automated client reporting solution helps to maintain the data integrity by minimizing the errors. It also saves a lot of reporting t...

Client Reporting in Wealth Management Industry  

A good automated client reporting solution helps to maintain the data integrity by minimizing the errors. It also saves a lot of reporting t...

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