Overview

‍I led the conceptualization and development of a wealth management client onboarding tool designed to enhance client experiences while integrating seamlessly with InvestCloud, Addepar, and BlackRock. I also spearheaded the product strategy and go-to-market strategy to ensure the tool's successful adoption and market positioning. The initiative began as a response to industry needs for streamlined client onboarding processes and scalable solutions that aligned with enterprise wealth management platforms.

Challenge

‍Wealth management firms often face inefficiencies in their client onboarding processes due to fragmented workflows, inconsistent data handling, and limited integration with core financial systems. These challenges negatively impact customer satisfaction and delay portfolio setup. My goal was to develop a tool that simplifies onboarding, gathers key client information, and ensures compatibility with leading wealth management platforms.

Approach

Sales Strategy Development
I devised a sales strategy to ensure the tool’s market relevance and client buy-in:

1. Market Validation: Using feedback from interviews with wealth management firms, the account manager and I identified pain points in the onboarding process.
2. Prototyping for Sales Enablement: I formed a prototyping team consisting of offshore and onshore resources that included UX designers, business analysts, and wealth management SMEs. This prototype was designed as a visual and functional representation of the proposed tool to capture client interest, validate core features, and solicit additional ideas.
3. Feedback Loops: I engaged with the sales team to test the prototype with prospective clients, iterating on the feedback to align the tool with client expectations.

Project Plan
I implemented a phased project plan to ensure focused execution and strategic alignment:

Phase 1: Discovery and Research: I conducted workshops to gather client requirements and map existing workflows. This phase included:

1. Journey mapping of the client onboarding process.
2. Identification of critical integration points with InvestCloud, Addepar, and BlackRock.

Phase 2: Requirement Prioritization: I categorized and ranked requirements based on business value and technical feasibility. Prioritized features included:

1. Secure client data capture.
2. Automatic document generation.
3. Integration with existing wealth management tools.
4. AI Assistant: Added an AI assistant feature to streamline workflows, provide guidance, and enhance user interactions.
5. Third-Party Integration: Included functionality to upload images and documents, parse the data, and map it to relevant sections of the tool for seamless data handling.

Phase 3: Prototype Development: I leveraged my UX resources to commission a Figma prototype as a sales asset to showcase the tool’s functionality and design.

Phase 4: Validation and Feedback: Our account manager presented the prototype to internal stakeholders and selected clients to refine the tool.

Product Team Formation
I built a cross-functional product team to ensure efficient development and validation:

1. Team Composition: Included UX designers, business analysts, wealth management SMEs, and a proof-of-concept architect for composable architecture.
2. Collaboration Framework: I established clear roles and responsibilities, ensuring streamlined communication and iterative development cycles.

Design System Recommendation
I recommended adopting a design system to maintain consistency and scalability across the tool’s interface:

1. Design Principles: I established guidelines for typography, color palettes, and component usage to ensure a cohesive user experience.
2. Tool Selection: I proposed using Zeroheight as the platform to document and share the design system. Zeroheight’s integration capabilities enable seamless updates and collaboration among designers and developers.
3. Benefits: Improved design efficiency, consistent branding, and a centralized repository for all design-related assets.

Results

• Developed a prototype that demonstrated clear alignment with client needs, serving as a key differentiator in sales pitches.
• Established a structured approach to requirement gathering and prioritization, ensuring the tool addressed critical client pain points.
• Enabled scalable design practices through the adoption of a design system and Zeroheight documentation, setting the foundation for future enhancements.
• Gained client interest and validation, paving the way for potential adoption of the onboarding tool across multiple wealth management firms.

ConclusionMy wealth management client onboarding tool exemplifies a strategic approach to product development, leveraging cross-functional collaboration, robust design practices, and innovative sales strategies. The tool not only addresses critical industry challenges but also positions itself as a scalable and efficient solution for enhancing client onboarding experiences in wealth management.

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