MS Dynamics 365 has improved Client Experience for Wealth Management firms | Intelegain

Microsoft Dynamics

MS Dynamics 365 has improved Client Experience for Wealth Management firms

Every industry strives to offer the best client experience. But with an industry like wealth management, the role can be tricky! Microsoft Dynamics 365 prepares firms for what they may not have anticipated while building client relations. 

When the service you are offering deals with an instrument as crucial as money, trust is the foremost important factor in building client relationships. Changing dynamics in the wealth management industry is raising the customer expectation bar higher every day. What does it include? Undoubtedly assurance, security, personalization, and many long-term benefits along the way. 

Before the blog explains how Microsoft Dynamics 365 helps grow clientele relationships, we first need to understand that it’s never limited to the ‘client’ alone with wealth management firms. Manier times, agencies have to go that extra mile to understand the extended relations such as spouse, siblings, children, parents, grandparents, or sometimes even cousins. It further helps the firm know how they make their decisions and aim for in the near future. 

How does Microsoft Dynamics 365 enhance customer experience? 

Faster access to data:

Microsoft Dynamics 365 allows agents and clients to access data on the go through their preferred channels. Since it is delivered in an efficient manner, even though there’s extreme sensitivity, the client feels secure enough to shape a trusted relationship with the firm. Additionally, it helps have easier collaborations, and customers can grab the reins. 

How is it helpful? When there’s already volatility in the market, quick decisions are expected and with real-time solutions. Faster access to data and insights help take control over risks in order to reduce possible uncertainties. It eventually helps attain the set targets without having to jeopardize their position. 

How do they experience it? 

  • Quick access to meaningful data
  • Decisive analytics helping agents to form constructive decisions. 

Customized service: 

Needless to say, days of standard service packages are way behind while offering any service. Today’s clientele relations are majorly built on the personal touch that the company lends to a customer. With wealth management entities, getting customer insights is one of the most difficult parts unlike in other industries. Microsoft Dynamics 365 helps agents understand the pattern of spending and their preferences. 

So does your customer like to play it safe with defensive investments and annuities? or is he all in for growth stocks? Wealth advisors have to understand the requirements properly. Sometimes, even customers themselves may not know what they want. Key customer insights can help them understand their own portfolio and invest accordingly. 

How do they experience it? 

  • Key insights and data of customers
  • Spending pattern reports and analytics. 

Receive documented details: 

When it comes to financial management, the documentation of meetings, analysis of portfolios, conversations, every needed summary that can contribute to offering consultation plays a crucial role. With Microsoft Dynamics 365, agents can document such minor details that further add value to their decision eventually leading it to precision. Besides, clients can refer to seamlessly integrated documentation as and when needed. 

Most importantly, Dynamics creates transparency regarding showing consultation fees or service charges to be levied on the customer. Be it a quarterly rebalancing fee or annual service quotation; the customer has a clear picture of his investments and fees. 

How do you offer it? 

  • Document key details of the client’s expense habits. 
  • Generate and review bills and quotations for the client. 

Minimize risks and evade unfruitful decisions: 

Every customer has their propensity to save, invest or take risks. As a wealth management advisor, it is important to study the portfolio and understand its approach to investment risks. Microsoft Dynamics 365 helps agents monitor their investment patterns, discern their objectives, and risk tolerance. 

Not only does it help clients avoiding unnecessary risks, but it also makes sure that the investment strategies are aligned to their goals, risk modules, and investment habits. 

How do you offer it? 

  • A research-based approach to risk management 
  • Understanding the goals of the customer to avoid decisions that are unfruitful for them. 

Security models and solutions:

The blog has highlighted it before, highlighting it again, wealth management firms have to deal with crucial and sensitive data of customers. Any slightest of negligence in its security can result in a lost customer and affected company image. The tech architecture of Microsoft Dynamics 365 is such that it proffers end-to-end data security with multiple checks and role-based limitations to accessing data. 

With this, even though the data is consolidated under a single roof with adequate transparency, it also has secure channels across the platform. As a result, it gives additional assurance to customers when it comes to handling their finances and other critical information. 

How do you offer it? 

  • Secure channels across platforms with adequate room for transparency. 
  • Multiple checks on data accessing and role-based limitations. 

Concluding it, 

Wealth or asset management can be tricky with the kind of volatile nature the investment industry possesses. That being said, if the enterprise resource planning is streamlined well enough to overcome the limitations of this industry, the firm assuredly welcomes a competitive advantage. 

Consequently, though the industry is full of risks and uncertainties, the right use of the right platform can bring in maximum accuracy in decision making, thereby improving client relations. 

Owing to the notable features of Microsoft Dynamics 365 dedicated to the finance and wealth management industry, it is especially ideal when the firm is looking forward to building trust and a long-term relationship with their clients. Since its AI system additionally helps firms reach out to their customers, at the right time, through the right channel, customer acquisitions and growing clientele family becomes easier than it seems to be. Dynamics 365 indeed comes with multiple benefits for wealth management firms and advisors, building strong customer relationships being one of many.

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