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Written by: Patrick G. Burke
Type of Firm: A growth-oriented RIA seeking to enhance client experience and reduce operational costs.
Problem:
The firm faced significant challenges in streamlining client onboarding due to the manual, time-intensive process of extracting data from various financial documents, such as holdings and cost basis. This inefficiency not only delayed prospecting and onboarding efforts but also led to inconsistencies in data presentation, hindering overall productivity and client experience.
Solution:
By leveraging LEA's advanced data extraction and presentation platform, the firm automated the process of extracting data from various financial documents. LEA’s solution standardized the extracted data into formats compatible with the firm's presentation tools. This allowed the firm to process client information with greater speed and accuracy, leading to a more streamlined and efficient onboarding experience.
Outcome:
Growth-oriented firms using LEA’s platform have significantly reduced onboarding times, cutting the process from days to minutes. The automation of data extraction has eliminated manual errors and inconsistencies, while standardized data ensures that advisors have access to accurate and comprehensive client information. As a result, firms can accelerate the sales process, onboard new clients more rapidly, and achieve this without incurring additional operational costs.
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