Client Reporting in Wealth Management

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Client Reporting in Wealth Management
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Introduction

• One of the most valuable assets to any wealth
  management firm are their clients. Without them,
  there wouldnt be a business to run. That being
  said, its critical that you provide as much
  value to them as possible and one of those is
  through client reporting.
• Depending on the type of client, this may be the
  only contact you have with them on a regular
  basis. On the other hand, you may have a new
  client that has a minimal understanding of
  investing and information needs to be laid out
  simply.

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Key Areas of Client Reporting
Visualizations.
Customization
Automation
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01. Visualizations

• A way to help keep your clients happy and in the
  know is through visualizations. For many, reading
  the numbers can seem foreign, but with the right
  graph or infographic, you can have their
  information in a way to make it easily digestible.

• Some areas of client reporting in Wealth
  Management include asset allocation, return on
  assets and asset type. Having these properly
  displayed in an easy to read graph to alleviate
  stress when it comes time to send out reports or
  statements.

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02. Customization

• Another way to make your reports and statements
  beneficial to both you and your client is knowing
  you have a level of customization. This works in
  two ways because first, your client may only want
  to see a few items beyond whats standard.

• Knowing this can make it simple to communicate
  and ensure your clients trust your brand. On the
  other hand, if you need to build a custom report
  for a high net worth individual that contains
  additional information from a middle-ranged
  wealth bracket, you can do so with ease.

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03. Automation

• Lastly, automating the process of client
  information saves you time and in turn, money.
  Having the ability to generate a plethora of
  reports at any given moment, you can rest easy
  knowing you can meet your clients demands.

• Also, if you need to build out existing reports
  you can do so and still have those changes
  automatically be pushed out once finalized.

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Conclusion

• Client reporting continues to be the main point
  of contact and must be considered when building a
  relationship. Take time to know what you
  currently have and if you can improve.
• Through customizable reports, easy to digest
  visualization and automation, you can know your
  clients are being properly served and given the
  most value possible.

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