In the competitive world of financial planning, staying ahead means leveraging technology to empower both you and your clients. Client portals have emerged as a cornerstone in modern financial advisory, enabling more meaningful conversations and transformative planning outcomes.

By granting clients access to their financial data, you’re turning meetings into strategic discussions about future growth, rather than just reviewing past details. In this blog, we’ll explore how client portals can elevate your practice by fostering trust and enhancing client satisfaction.

Meeting Expectations for a Modern Digital Experience

Meeting the digital expectations of today’s consumers is no small feat, but it’s a necessary one for financial planners aiming to stay relevant in a tech-driven world. As younger, more digitally-savvy clients become the norm, they bring with them heightened expectations for seamless, personalized online experiences.

Forty-four percent of investors strongly agree that their wealth management app or website should help them reach their goals.¹ This indicates a clear demand for digital tools that do more than just display information—they need to actively contribute to goal achievement. However, only 18 percent feel their app or website offers proactive guidance and goal-setting capabilities.² This gap represents a significant opportunity for advisors like you.

Creating a digital experience that meets these expectations is crucial, and having an industry-leading client portal can make all the difference. It isn’t just about keeping up with technology—it’s about exceeding your clients’ expectations and providing them with the digital tools they need for financial success. As you adapt to these modern demands, you’ll find that transforming your digital approach with a cutting-edge client portal enhances both client satisfaction and planning outcomes.

Making Planning More Personal and Collaborative

Client portal technology personalizes the financial planning process, making it more collaborative for clients. An impressive 86 percent of advisors, and 94 percent of CFP professionals, agree on the critical role personalization plays, underscoring the shift towards tailored financial strategies that align with each client’s unique needs.³

When you leverage a client portal, you empower your clients to access and review their financial information prior to meetings. This preparation transforms discussions from basic detail reviewing into meaningful, high-value conversations. Your meetings become focused on addressing specific questions and exploring nuanced planning strategies, elevating your role as a trusted guide. This shift not only optimizes your time but also enriches the client experience, as you dive into the intricacies of their financial aspirations and how to best achieve them.

Moreover, client portals enhance collaboration by incorporating interactive features that facilitate real-time communication and decision-making. In a world where 78 percent of clients wish to be actively involved in their planning, providing this level of engagement is essential. By involving clients in the planning process, you foster a higher level of trust and confidence, which strengthens your advisor-client relationship.

Interactive client experiences make these meetings more productive by empowering clients with the knowledge to ask informed questions. By focusing on planning strategies, rather than the groundwork, you’re better positioned to deliver value and guide clients toward more beneficial outcomes. Integrating client portal technology into your practice not only enhances the personalized nature of financial planning but also solidifies your role as an indispensable partner in your clients’ financial journey.

Improving Financial Outcomes with Client Portal Technology

Client portals not only enhance the client experience but also significantly improve planning outcomes. This technology has a profound impact on your clients’ trust and satisfaction, directly contributing to a more beneficial advisor-client relationship.

Empirical data highlights the importance of client portals in lessening financial anxiety. For instance, only 17 percent of clients who feel their advisor does not help reduce their financial anxiety report being satisfied with their advisor. In stark contrast, 78 percent of clients who strongly agree that their advisor helps reduce their financial anxiety are highly satisfied—a remarkable 61-point difference. This statistic underscores the crucial role you play in not just managing funds but also in providing peace of mind.⁴

When it comes to trust, client portals are equally influential. Only 50 percent of clients who occasionally access their portal express trust in their advisor. However, this trust level jumps to 85 percent among clients who frequently use their portals. Regular access to financial information builds transparency, empowering clients and reinforcing your role as a trusted advisor.⁵

The benefits of client portals extend beyond trust and satisfaction—they also influence other critical factors such as motivation, peace of mind, and the likelihood of referrals. Engaged clients feel more secure and motivated about their financial futures, which in turn makes them more likely to recommend your services to others.

By leveraging client portals, you are not just enhancing the planning process but also fortifying the foundation of your relationship with each client. This powerful tool is vital in your quest to deliver top-notch financial services.

Maximize Client Engagement with an Industry-leading Client Portal

Integrating client portals into your practice is more than just a tech upgrade—it’s a strategic step toward strengthening your advisory role. These tools equip you to reduce financial anxiety, boost client satisfaction, and solidify trust.

To deepen your understanding and unlock the full potential of client portals, watch our upcoming webinar Improving Client Engagement and Satisfaction Through the Client Portal. Join Chris Grant, Group Product Manager at eMoney, and Emily Koochel PhD, AFC^®, CFT™, BFA™, Manager of Financial Wellness at eMoney,  for an in-depth webinar that will guide you through the transformative power of this technology.

Sources:

1.      “Wealth Management Clients Expect More Personalized Experience from Their Firms’ Mobile Apps and Websites, J.D. Power Finds.” J.D. Power, 2024. November 21. https://www.jdpower.com/business/press-releases/2024-us-wealth-management-digital-experience-study.

2.      Burgess, Rob. “Clients Want More from Financial Services Apps, Websites.” Financial Planning, 2024. November 22. https://www.financial-planning.com/news/clients-want-more-from-financial-services-apps-websites.

3.      eMoney Evolution of Advice Research, July 2022, Advisors n=300

4.      eMoney, “Beyond the Plan” Research, July 2023

5.      eMoney, “Planning Better Together” Research, October 2024

DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.

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