One of the challenges in moving to paperless is the sticking point around collecting and storing client signatures. Many a streamlined office has come unstuck when a service agreement or authority to proceed has to be printed so the client can sign it.
IRESS have developed a secure digital signature solution that enables advisers to electronically capture and store a clients signature on any documentation.
Our focus is on why the parties involved within the financial planning process would use Digital signatures from the client, to the administrator and various types of advisers.
There are a few key features in which I have broken down in further detail below:
- Clients can sign digitally at their own convenience
- Signatures can be tracked electronically
- Creation of efficiency and statement of advice generation/execution
Every great idea starts with an opportunity, and in this case the opportunity came from the need to find a way to capture a clients signature and store it electronically. Already an adviser can manage the advice process from prospect to implementation and beyond using advice generation wizards , portfolio management and workflows the next step was a way to allow the client to sign documentation electronically, Digital signature is XPLAN’s solution to this
Clients can sign digitally at their own convenience
There is no need for a client and adviser to be on line or connected for a document to be signed. This provides the client with the ability to sign when it suits them. The ability for the client to be able to sign on their terms and in their time is a huge advantage to them in ever increasing busy lives that many people live. Whether that be signing an authority to proceed, updating a service offering or signing the renewal notice clients have the freedom to do that when it suits.
Signatures can be tracked electronically
Paper trails can get lost, things go missing and tracking where things are at can prove to be difficult. The XPLAN digital signature allows administrators to know where things are at, at all times with a simple colour coded screen. As seen below administrators can easily see if a client has accepted, declined or if the document has become void. This saves time and resources in not having to call the client directly and follow up or play the guessing game as to where things are at
Creation of efficiency and statement of advice generation/execution
Digital Signature allows for an efficient end to end process whereby there is no delay in waiting for documents to be send, printed, scanned and then emailed back. This allows the adviser to action a plan for a client quickly and makes it possible for the execution to begin instantaneously. The creation of this type of efficiency means that any automated processes within XPLAN can be kicked off without delay and makes the entire process easier for the client
To enable digital signature on your XPLAN site please speak to your account executive to arrange a demonstration of the functionality.