Read the report.
Read the report.

A couple of my earlier blogs have already discussed the practical priorities around the importance of redefining the onboarding process. And although we explore the topic of discovery in our report “Getting It Right from the Start: Taking a Strategic Approach to Client Onboarding,“  I wanted to call out what a key aspect discovery can be in building longstanding relationships.

In my conversations with leading wealth management firms, I’ve noticed a distinct gap in the planning of their onboarding strategies around the prioritization of discovery. Many organizations are failing to set out a clear road map for understanding each client’s goals and aspirations so that they are able to create tailored solutions to address them. It is an area where the digital experience can come into its own. Not only can digital tools help to ease discovery—from using social media to gain a clearer picture of a clients‘ needs to using a smartphone app to gather more customer information—but also using digital methods can mean greater speed and efficiency in the overarching onboarding process.

In the past, discovery has mainly relied on purely manual methods—a laborious sharing of information and form filling that was always open to the potential for mistakes and discrepancies. Digital tools can support discovery in new ways. By combining existing facts about a potential client with a sophisticated customer relationship management tool, conversations can be facilitated in real time with digital tools opening up the potential for cross-selling and up-selling.

Automation and mobility solutions can help advisors truly understand a client’s goals and aspirations, and make the process more efficient, transparent and responsive. The use of basic checklists and questionnaires is being replaced by a more sophisticated two-way dialogue.  When firms get this process right, discovery is not just an input for solution selling, but also a tool set to help guide the advisor in setting expectations, uncovering biases and improving communication from the onset—all aspects that help discovery deliver a differentiated customer experience.

Is your business focused on improving the discovery element of onboarding? Discovery and its potential for improving the depth of client relationships is an area where Accenture can help realize exciting progress for wealth management firms. If onboarding is a priority and you have yet to put in place a plan for discovery, then talk to us about how digital could make the difference.

If you would like to discuss this topic further or get additional information, please email

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