June 8, 2021 | VLOG POST | By Lani Oneil
In this 2-minute video, Lani Oneil explains the three most time-consuming investor recordkeeping tasks we are finding in the market: client onboarding, distribution processing, and investor statement creation.
Hi, I’m Lani O’Neill, VP of Business Development at Envision Financial Systems.
I’ve been talking to a variety of alternative investment sponsor firms and I have identified the three most time-consuming routine tasks of investor services teams.
The first one is new account onboarding.
Making a new investment should be an exciting, hassle free experience for your investors. But when you take into account the number of minutes they spend on new account paperwork. And then going back and making corrections to the same paperwork later and for your team to manually set up the new account and make the investment, it takes a good two hours to set up every new account.
New account setup can be fully digitized for alternatives now. And we’ve heard from our clients that it can reduce the average turnaround time from 20 days to just one day.
Another one is the distribution process.
Providing your investors with income generated by your investment product should be a joyful experience, but I’ve heard from customers that they have their employees spending every hour of an entire painful week just completing distributions. And this takes place every quarter. Sometimes every month. If your team is still completing distributions manually, please call me so that we can find a better way.
Third is the statement process.
Without proper technology in place, statements are probably the number one time consuming responsibility of investor servicing teams.
Envision’s technology can not only automate the basic process but also the related tasks too. Such as custom statements, duplicate statements, replacement statements and seasonal statements and so on. We also offer a web portal where your customers of all types can access this information independently. We can do the same for tax forms, trade confirmations and for all sorts of account maintenance. Simplifying with technology can save your firm thousands of hours a year.
I welcome the opportunity to speak with you about your firm and Envision’s technology solutions.