Unlocking the Power of a Client Portal for Your Business
By Colleen Tree, Senior Product Owner, Enzumo
Australians have increased internet use in recent years (no surprise), showing an increase in access from 90% in 2019 to 99% in the first six months of 2020¹.
The increase was undoubtedly driven by the COVID-19 restrictions and Australians spending more time at home, which included having to do many everyday activities like shopping, banking, and working from home. However, there was also a 65%¹ increase in video conferencing, and for many Australians, it was likely the first time they had even used tools like Zoom or Teams.
So what does that mean for advisers?
As a result, many Australians have been thrust into the digital age, whether they like it or not. But funnily enough, they proved to themselves they could master it and have likely even expanded their reach to more online-based activities. So why not take advantage of the move and introduce a client portal facility?
Your business will benefit from taking the step, but it's even more valuable for your clients.
What is an XPLAN client portal?
If you're still wrapping your head around what a client portal is, here is a summary:
The XPLAN client portal is a feature that allows clients to access their account information and communicate with their financial adviser through a secure online portal
Clients can also access their financial portfolio, account balances, and transaction history
Clients can check the information you have recorded for them and let you know if there are any changes
Clients can run reports on their investments
Why would you implement a client portal?
If you're not yet convinced about the benefits, we'd like to highlight some reasons you should consider one.
Increased security: If you are still emailing sensitive information to your client, you likely are a cyber security event waiting to happen. A client portal is a secure hub where you can manage communications and keep your client's personal information safe. The client portal uses advanced security measures to protect client information, including encryption and secure login protocols.
Improved communication and convenience: The client portal allows easy and efficient communication between you and your clients. They can access their account information at any time, from any location and communicate with you using the secure messaging functionality. This capability can lead to faster resolution of questions or issues and increased client satisfaction.
Improved data management: Not only can it help streamline your business operations and improve your overall efficiency, but this feature can also increase convenience for your clients.
Increased collaboration: The client portal can become a tool for collaborating with your clients by sharing documents. Even introducing the ability for clients to sign important documents using digital signatures or completing onboarding questionnaires in a secure environment is a winner.
A client portal allows you, as a practice owner, to shore up your data management security for clients and create valuable benefits through increased accessibility and innovation.
How can Enzumo help you take the next step?
Speak to us about the Enzumo XPRESS Client Portal and how it could improve your back office and client experience. With features like a built-in fact find that flows data straight to client profiles, secure messaging functionality between you and your client, and a simple documentation signing process within the portal, you could improve the client experience exponentially.
Enzumo XPRESS has three levels of access you can grant to your clients:
Messages: Allows for the secure messaging functionality of the portal between the adviser and the client.
Balance Sheet: Gives clients a detailed view of their assets and liabilities, plus secure messaging capabilities.
Portfolios access: Displays, analyses, and reports on the IPS data recorded on the client profile, including any data feed assets, plus provides access to the balance sheet view and secure messaging functionality.
If you're ready to optimise your business operations, improve client satisfaction, and ultimately drive success for your business, then contact us for a discussion.
¹Trends in online behaviour and technology usage, ACMA, September 2020