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July 16, 2024 at 05:03 PM
Advisor360 has launched a digital onboarding service for financial advisors that aims to facilitate a more efficient bulk account transfer and repapering process.
The tool, called Account Transitions, supports the repapering of up to 6,000 accounts in less than two minutes, according to the firm’s announcement, and it’s designed to help firms create a “best first impression” when new advisors come on board.
“Research shows that on average 13,000 advisors switch firms every year,” said Mat Mathews, chief product and engineering officer of Advisor360. “Account Transitions enables firms to get advisors settled with ease and move their client accounts in less time.”
To this end, Account Transitions collects and standardizes client and account data at scale by automating error detection and creating contacts and household designations within a firm’s client relationship management platform.
The Account Transitions capability is a “force-multiplier for advisors” who are moving entire books of business from one firm to another, Matthews said.
