How RIA Custodial Services Improve Customer Engagement

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When you’re an investment adviser, delivering outstanding services can help you retain more customers and increase your revenue. It is important to keep your clients satisfied. Here’s a look at how RIA custodial service can improve customer engagement.


Faster Account Opening

Accounts are opened faster when the custodian is a third party. With a custodian taking care of the paperwork and regulatory compliance, your clients can get started with their new accounts much more quickly. You can also offer them access to their money sooner so they can get on with their lives.

Streamlined Account Transfer

With RIA custodial service, you can make it easier for clients to move assets from one broker-dealer or financial institution to another by automating transfers between firms and providing them with streamlined, secure access via APIs and web portals. This helps remove barriers to client engagement by removing time-consuming steps like manually processing paperwork and making sure it’s all in order before moving assets from one firm to another. It also eliminates delays caused by requirements such as waiting for signatures from multiple parties before an asset transfer can take place.


Consolidated Reporting

Consolidated reporting is an important aspect of any business, especially in the financial services industry. It can help your clients to see their entire financial picture in one place. This allows them to make better decisions about their money and also gives you a clearer idea about what they’re spending their money on. Consolidated reporting also helps you improve customer engagement by making it easier for your clients to see how their investments are performing or what their fees are going towards.


Access to Client Inquiries

The other way that RIA custodial service can improve customer engagement is by giving you access to client inquiries. When you are working with a client, it is important to have easy access to all of their questions and concerns. This allows you to address their needs quickly and effectively, which will improve your customer service. This will also help you build trust with your clients because they will know that you are available when they need you.


If you do not have access to client inquiries, it could take days or weeks for them to get back to you with questions or concerns, which would make it difficult for them to trust that their issues will be addressed in a timely manner. By providing them with this access at all times through RIA custodial service, you eliminate the need for them to contact another person in order for their issue to be handled properly.


Transactional Data

One of the biggest benefits of using custodial services is that they allow you to track all kinds of data about your customers’ transactions. For example, if you want to learn more about which products they buy and how often they make purchases through your site, this information can help you develop better marketing campaigns that target their needs perfectly.


Client Analytics

Custodians also offer detailed analytics reports that allow advisors to better understand the behavior of their clients over time. Advisors can use these reports to see what types of investments their clients prefer (taxable or tax-advantaged), how much risk they’re willing to accept and how their portfolios have performed over time. Armed with this information, advisors will know exactly which areas require further attention from them in order to meet their clients’ needs and expectations.

Easier Client Communication

Another way that RIA custodial service can help improve customer engagement is by allowing advisors easier access to their client’s contact information. With this service, all of your client’s contact details are stored in one place, so you don’t spend time searching through multiple systems for this information when trying to reach out to them or schedule meetings. This allows you to spend more time working with clients rather than trying to track down their contact information.


The future of customer engagement involves increasing customer retention and improving customer lifetime value. Customer engagement is about understanding your customers’ needs and their financial circumstances, matching them to an appropriate level of service, and providing this service in a seamless way that meets the customer’s requirements. RIA Custodial service is an integral component of financial advisors’ ability to engage with their clients and communicate effectively to improve business performance across multiple dimensions.


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