This study begins with a detailed review of the new client experience at 12 startups, examining the innovative approaches these firms are taking to meet their goal of successfully serving clients online at a lower cost than that of established financial institutions. The second half of the study offers our analysis of the challenges that companies face when delivering advice online without a human intermediary and provides recommendations for addressing these issues.
Five Examples of Strategy Questions the Study Addresses:
- How can a firm onboard new clients without a human financial advisor?
- Should firms use flat fee or assets under management pricing?
- Is offering aggregation of outside investment accounts necessary?
- How can firms create an online investor questionnaire that serves both unsophisticated and engaged clients?
- Should a firm’s recommended portfolio use active or passive management?