Digital investor profiling with FinfoxAdvice

Straightforward regulatory self-profiling
Finfox 21. July 2022
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Self-services are becoming increasingly important also in the wealth management space. Self-profiling with FinfoxAdvice actively involves investment clients in the profiling process and enables them to determine their investor profile themselves, regardless of location and time.

Self-profiling with FinfoxAdvice at a glance

With FinfoxAdvice’s profiling module, investment clients can easily and conveniently determine their investor profiles themselves via smartphone, whenever and wherever they want. The module allows both the initial assessment and independent editing or periodic updating of an already existing client profiling.

Another important part of profiling with FinfoxAdvice is the digital presentation of the investment strategy recommended by the bank, which is based on the client’s details, as well as the final strategy selection.

With FinfoxAdvice, the client is able to view both his current investor profile and the current investment strategy at any time. In particular, the allocation distribution and the key figures for the investment strategy as well as the direct comparison with other strategies offer the client an immediate added value and can create advisory opportunities.

If self-profiling is carried out prior to the client meeting, the advisory team can view and check the information and the determined profiling in advance. If necessary, certain points can be taken up and deepened in the personal conversation.

Benefits of digital investor profiling with FinfoxAdvice

The prior self-profiling of clients saves advisors valuable time that can be used for more depth in the respective client meeting or also for additional clients.

Allowing clients to complete individual steps in the advisory process themselves does not only increase efficiency for client advisors. With new digital experiences, the bank also strengthens client loyalty and proximity to its clients in their everyday situations.

Clients appreciate that they can take as much time as they want to answer questions about their own risk capacity and risk tolerance and select the appropriate investment strategy. This allows them to analyze the scenarios and presented options unhurriedly.

Another benefit of self-profiling with FinfoxAdvice is that client advisors are informed about any changes in their clients’ individual life situations thanks to a flexible status and notification concept. This enables them to proactively analyze the changed situation in a timely manner and derive any need for action with regard to the portfolio.

In order to meet the requirements of a digitally savvy clientele, an intuitive user interface tailored to the needs of investment clients, embedded in the digital advisory tool, is a key component of the offering.

Everything is connected – thanks to full omni-channel capability

Since business logic and data are provided by FinfoxCore, the central control element of the Finfox platform, they are consistent across all channels and user interfaces at all times. Any customization by clients in FinfoxAdvice becomes visible and effective for the advisory team in the other channels – and vice versa. Thus, the client advisors can not only directly view a self-profiling completed by the client in FinfoxAdvice, but they are also immediately informed about the client activity, allowing them to keep track in any scenario. Joint subsequent amendments during the client meeting or any further use of the profiling functionality via Finfox’s other channels is possible at any time.

Self-services with FinfoxAdvice – flexible options for usage

The choice of how the hybrid advisory process should be is up to the bank or the investment clients, respectively, who ultimately decide themselves whether and how they use the self-service offering. FinfoxAdvice offers flexible solutions that can be adapted to individual needs.

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