Fidelity Adds Multi-Account Opening, Multi-TOA (Transfer-of-Assets) Capabilities and More to its Fully Digital Onboarding Experience
Fidelity Expands Digital Service Tools, Leveraging the Power of its Deep Investment in Advanced Technology Like Artificial Intelligence, and Enhances Wealthscape Investor℠ to Further Help Advisors Digitize Their Businesses
Fidelity Institutional℠ recently announced updates to the Wealthscape℠ advisor technology platform including enhancements to its fully digital onboarding capabilities, more digital service functionality and a refreshed Wealthscape Investor experience, helping advisors work more efficiently and deliver more value to investors.
“Simplifying work for advisors and their clients has always been a priority for us, and it’s especially been a focus this year, beginning with the fully digital onboarding experience we launched in January and through to the platform enhancements we’re announcing today, as well as what’s on our roadmap for 2021,” said Lisa Burns, head of Platform Technology, Fidelity Institutional. “Advisors rapidly adopted digital tools at the start of the pandemic and continue to look for ways to save time and deliver on client expectations in today’s challenging environment. We’re helping them do that through our continued innovation.”
Digital Onboarding Experience Streamlines Workflow for Advisors and Their Clients
In January 2020, Fidelity began rolling out a new, fully digital account onboarding experience to save advisors time and simplify account opening, which more than one-third of advisors indicate is the most cumbersome part of client interactions. The integrated workflow helps advisors work more efficiently so they can scale their business and spend more time adding greater value for clients through activities like financial planning.
Since January, Fidelity added:
“We had a great response to our digital onboarding experience and worked with advisors to prioritize enhancements that further meet their needs, including support for the trust registration type through fully digital workflows – something we heard there was a real need for in the market,” added Burns.
Fidelity continues to expand the onboarding experience, with support for managed accounts, additional transaction types, and more integrations to provide streamlined end to end workflows. A new simplified investor signing experience further increases efficiency and minimizes investor errors during account opening, and will begin rolling out in early 2021.
Expanded Digital Service Tools Help Advisors Work Smarter
Fidelity also continues to enhance the digital service tools it launched in May 2020 to help advisors optimize their efficiency so that they have more time to engage with their clients.
Wealthscape Investor℠ Enhancements Will Help Firms Deliver on Clients’ Digital Expectations
Fidelity is now piloting a refreshed Wealthscape Investor experience that makes it easier for investors to view their portfolios at a glance, quickly find the information they need, and engage with their advisors. The new experience delivers a simplified design and customer-focused workflow, leveraging design techniques that improve accessibility and reduce friction for all users. It will continue to be enhanced based on client and investor feedback. Updates now in pilot include:
For more information about Wealthscape, please visit go.fidelity.com/Wealthscape