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The Evolution of the Client Portal

Our Managing Director Tessa Lee gave an insightful talk at the Owen James WealthTech Matters event in June 2023 about the evolution of the client portal from a technology and adoption perspective, and how the industry landscape has slowly evolved from dinosaurs to Digital Relationship Management.

The evolution of the client portal began in the pre-digital era, around 2010, when financial advice firms and wealth managers were still heavily reliant on paper-based processes.

moneyinfo introduced total net wealth reporting, allowing advice firms and wealth managers to aggregate all client finances in one place, including data from back offices, CRM providers, platforms, life and pensions providers, and client-held assets.

The introduction of mobile apps for client portals revolutionised client engagement, providing easy access to information on mobile devices and busting the myth that clients wouldn't use technology.

Automated reporting became a significant development, replacing the time-consuming process of printing and posting reports by delivering them directly to clients' branded apps, resulting in significant efficiency and cost savings for firms.

The advent of GDPR increased the focus on data security and client control, requiring firms to protect client information and provide data in a machine-readable format. moneyinfo has helped firms meet GDPR requirements and deliver secure communications.

It was an insightful talk and thought provoking insight into the evolution of Digital Relationship Management, identifying the milestones and challenges along the way.