Whitepaper: Welcoming New Clients to Financial Planning: the case for industry-wide process improvement

The average cost to financial advice firms to onboard a new client is £1,543 and the process takes an average of between three and four weeks. This was the headline takeaway from the recent NextWealth Financial Advice Business Benchmarks study. We partnered with NextWealth on this report, where we look at the client onboarding process and the challenges it poses to financial advisers and providers. These challenges have negative knock-on effects for clients but in fact both adviser and provider exists to serve clients. Through greater understanding of one another’s challenges and viewpoints, we can work together to deliver better outcomes to clients.