Practice Management

A Great Client On-Boarding Manager Can Transform Your Practice


Written by Kronos Technologies on February 27, 2019

Consistently successful on-boarding is most easily achieved if advisors assign one person in their practice to be responsible for the process—a client on-boarding manager. Making one person responsible means that the accountability for on-boarding will be clear. The on-boarding manager is responsible for ensuring your clients get on-boarded successfully—they manage all of the new client support, and, most importantly, they are the point person if something in the workflow doesn’t work. 

Assigning one team member to act as on-boarding manager (if you don’t have a large staff it may be yourself, or your part-time admin resource) means that crucial activities will be less likely to fall through the cracks, and you’ll always have someone paying attention to process improvements and technology changes.
Read on to see three ways a great client on-boarding manager can transform your practice.

Transformation #1: A client on-boarding manager increases advisor effectiveness

One of the key responsibilities for any on-boarding manager, something that can really improve advisor effectiveness, is managing the practice’s CRM software. The on-boarding manager should be tasked with setting up the on-boarding process in your CRM and making sure that all the steps in the process are followed each and every time a new client is taken on. This frees up the advisor to stop thinking about what activities need to be carried out. Instead, they receive notifications as tasks need to be addressed—and the CRM provides them with all the client information they need in the moment to make a difference for their client. 

The on-boarding manager, because of their focus on the CRM, will be better able to achieve and maintain mastery of the software. They can attend vendor training sessions and webinars. And they can take the time to stay on top of new features and updates, and maintain the CRM system. All of this means the advisor can focus all of their efforts on helping clients and making sales—and still enjoy the benefits of a robust and state-of-the-art relationship management system.

Transformation #2: A client on-boarding manager increases practice efficiency

Client on-boarding managers are also responsible for optimizing the on-boarding workflow. They identify all of the steps in the on-boarding process and then seek to streamline, eliminate or automate as many of them as possible. This saves time and effort for all practice staff, but more importantly, it goes a long way towards reducing client headaches. The on-boarding manager actually helps reduce the cost of losing clients because of turnover-related frustrations. 

Because they have such a focus on improving workflows they can take learnings from each client interaction and apply them to the overall on-boarding workflow, ensuring that the process continually improves over time.
Since the client on-boarding manager will have such a thorough understanding of the entire on-boarding process they are the ideal person to create digital and print brochures that outline the steps involved. These materials will describe what is involved at each stage, who is responsible for what, and when the step will happen. The on-boarding manager can share these documents with each new client, helping to eliminate confusion and anxiety—and ensuring that the process moves efficiently.

Transformation #3: A client on-boarding manager increases client confidence

The client on-boarding manager is the point person for client contact during the on-boarding process. In this role they should be aiming to take client support and the overall client experience to the next level. They make sure all client needs are well understood, and they respond to each support request—ensuring that the client gets the right help at the right time. 

The on-boarding manager recognizes that quick successes set a positive tone in the new client relationship and so they work to understand what each client’s most pressing need is, and help the advisor meet those needs. In many businesses this idea is known as ‘time to first value’—and the speed with which it’s achieved is critical to establishing a firm foundation for successful long-term relationships.
The moment in which the client experiences that first win is when they feel your relationship has begun to work for them. Trust starts to build, and the new client starts to view you as a valued partner.

Wrap up

Client on-boarding is all about creating great customer experiences, starting with first contact. It is an essential process in any practice and deserves the attention of dedicated team member.  A great client on-boarding manager will help you get the most out of your technology, increase advisor efficiencies by streamlining the process, and work tirelessly to create awesome client experiences. They reduce client frustration, increase the speed with which you get initial wins, and help build client trust right out of the box. Creating a client on-boarding manager role in your business can help you build great long-term client relationships and transform your practice.


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