Editorial Team

Using Digital Wealth Management to Drive More Loyalty in Customers

While new technology is challenging the status quo, nothing can replace the personalized service your financial advisors can offer all customers, from those with thousands in investments, to new customers just starting to create a nest egg. Through smart decisions and access to digital wealth management tools, your team can keep those accounts and drive a happier, more loyal customer. Here are three ways Investing-as-a-Service can help keep more investors in your company.

Support Clients From the Ground Floor

In The Innovator’s Dillemma, Harvard Business School professor Clayton Christensen notes there are two types of technologies: “Sustainable technologies,” which keep large banks in business by building on current products, and “disruptive technologies” which are cheaper, smaller, and easier to use, but can cause the failure of successful businesses. Smaller clients who rely on your institution for basic banking needs may turn to the disruptive technologies first, before coming into a branch to talk about their wealth building strategy. This can be attributed to two key reasons: Disruptive technologies are often more accessible, and traditional banks often don’t cater to customers who are not holding large sums in their accounts.

By giving small customers in your institution access to tools which help diversify portfolios and increase wealth, your team is giving them a reason to invest both emotionally and financially. It can be as simple as treating the children of customers well, to offering new customers access to Investing-as-a-Service instruments when they sign up. Giving everyone value, even when they can’t return the investment today, helps encourage lower-value customers to stay in your ecosystem and build their value with you over the long term.

Advice Will Always be Human

Over the past decade, many financial institutions introduced “robo-advisors” to their lineup of products. With lower fees and automated advice for an investor’s risk profile, the robot helps the investor make decisions about their portfolio, with the goal of helping them build their wealth over time. But what happens when the investor’s wealth outgrows the robot’s capabilities?

Even digital natives will still hit a limit of time, energy, and focus where they will need the help of a talented advisor to manage their funds. Although they want regular access to their accounts online, the advice of a talented financial advisor is invaluable to not only driving their wealth, but improving their quality of life. Through offering Investing-as-a-Service options to smaller clients and transitioning them to a financial advisor over time, your institution can capture their attention for the long run, and build a loyal customer who will turn into an evangelist for your services.

Access is Your Advantage

If your smaller customers don’t feel that your financial institution is approachable and can cater to their needs, they will go to a disruptor instead. In some ways, you may already be feeling this pressure. If you don’t offer cryptocurrency investments, smaller customers will go to an exchange. If they don’t believe that your digital platform offers access to stocks and ETFs, they will go to a FinTech company that welcomes smaller investments.

Keeping smaller customers in your network requires forward-thinking, technology-driven solutions to guide the next generation of wealth builders. Offering Investment-as-a-Service tools like Unifimoney grants your users the access to the they need to seek out traditional investments, as well as alternative assets like precious metals and cryptocurrency. Giving the access your customers want today keeps them in your immediate network, and sets the foundation for growth towards future wealth within your institution.

Keep a Loyal Customer Base in Your Network

Just because a customer is too small for your traditional solutions today doesn’t mean they can’t grow into your products in the future. Through nurturing customers throughout their financial journey and giving them access to all the investment options they are asking for through Investment-as-a-Service tool Unifimoney, your team can nurture loyal customers from the day they first open an account, to the day they bring their next generation to build wealth.

Ready to start a conversation about how Unifimoney can help you keep more customers in your institution? Contact us today to learn how Investment-as-a-Service works, and how we can compliment your current lineup of products.

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*Important information and disclaimers

The above does NOT constitute an offer, solicitation of an offer, nor advice to buy or sell specific securities. The opinions listed above are not the opinions of Unifimoney Inc. or Unifimoney RIA, Inc. but represent the opinions of independent contributors. These contributors may or may not hold positions in the stocks discussed. Investors should always independently research any stocks listed and form their own opinions, while recognizing that any investments made may lose value, are not bank guaranteed and are not FDIC insured.