Wealth Management Client Portals: The Seven Keys to Create a Compelling Differentiated Client Experience

Antonia Bos, Charlie Marlow-Thomas, Kenn Taylor

Wealth Managers’ reliance on their digital channels has grown significantly since the outbreak of COVID-19. Digital channels like Client Portals (i.e. firms’ secure websites), provide a way to service and engage clients. But how effective are they? What tools and services do they offer? Do clients use them?

To find out more, Alpha conducted a piece of research to find out more about the services firms provide “behind the login” and clients’ experiences of them:

Our research found that Client Portals are an essential component of a Wealth Managers client service proposition – not only in attracting but also in retaining clients:

  • Nearly 60% of clients login to their portal daily or weekly
  • Digital Service ranks in the top 3 reasons for choosing a Wealth Manager
  • 1 in 4 clients switched providers to get a better Digital Service

However, most Client Portals surveyed are only at the “foundational” level – giving just enough to meet clients’ basic needs.

To help firms maximise the value of their Client Portals, we have unpacked the 7 key components behind the most successful and compelling digital experiences:

Source: The information presented is based on a combination of the findings from Alpha’s WM Client Portal Survey and the 2021 WM Digital Readiness Survey. To find out more, or to get a copy of the research report please reach out to us.

About the Authors

Antonia Bos
Associate Director

Antonia is an Associate Director at Alpha. She has over 15 years’ experience in Financial Services, Distribution & Marketing Services Consulting. Antonia joined Alpha from Accenture, where she led the Wealth Management Distribution Practice. She has a proven track record in leading large-scale business transformation programmes from strategy through to execution.

Charlie Marlow-Thomas

Charlie is a Consultant at Alpha based in London. He is an active member of Alpha’s ESG & Responsible Investment practice and has completed a series of engagements focussed on ESG strategy, Organisational Design, Reporting & Regulatory requirements. In addition Charlie supports Alpha's Digital Practice and Wealth Client Segment and has experience supporting across a number of market surveys and analysis projects.

Kenn Taylor
Director, Head of Wealth Management

Kenn is a Director at Alpha and leads our Wealth Management Practice. He is a senior business adviser having led consulting teams with Grant Thornton, Navigant and Troika, and has been a member on the Board of Prudential Financial Services. His experience within the investment industry comprises strong asset management, wealth and retirement business experience from leading critical assignments for the leading UK Wealth & Asset Managers, Retail and Workplace Platforms. His consulting experience covers Wealth, Pensions and Investment operations and outsourcing, particularly proposition development, supplier assessment, operating models, business case development and deal negotiations.