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How Co-Browsing helps the investor – and the advisor


The relationship between a wealth manager and their client is based on a firm foundation of trust and communication. Traditionally, these relationships would extend across generations in single families. 

However, with the substantial technological progress we’ve seen over the last few years, financial advisors are having to work harder to retain their clients. In fact, a reported 80% of millennials seek out new financial advisors after inheriting their parents’ wealth. Nowadays, 44% of millennials claim to be interested in cryptocurrencies, compared to just 12% of over 55s and 39% of high net worth individuals under 40 will ask for an ESG score before making a decision.

And this is far from limited to intergenerational wealth. Over all, there’s been a shift in client demographics – with more HNWI coming from the tech sector and an increase in wealthy female clients to name a few. 

The general picture for financial institutions in the wealth management industry is multifaceted and ever-changing, meaning that the level of service needs to match or exceed current client expectations.

Providing an end-to-end service

Wealth management relationships are built upon a series of smaller interactions that lead to big moments. Unlike other financial services contexts, there is a greater expectation for light touch back-and-forth communication using tools like Unblu Secure Messenger. 

These interactions mimic the way clients communicate in their everyday lives and are essential for healthy ongoing relationships. Not only is Secure Messenger safer than popular app counterparts, but it’s fully omnichannel and features automatic conversation recording for compliance purposes. 

Secure Messenger is a standout feature in a wealth management context – but it does have its limitations. If you’re onboarding a client for the first time or a current client wants to make a new investment, the asynchronous nature of Secure Messenger is too casual for big-decision moments. 

It’s in these contexts, among others, that the ability to escalate the conversation to a high-touch video chat is key, which involves implementing a Co-Browsing experience into your service offering.

Co-Browsing software allows the advisor and investor to join a collaborative browsing session where each participant can interact with the shared screen, whether it’s a document, web page, or mobile application. Unlike screen sharing, the technology is completely browser based and not all elements of the screen are shared for client privacy reasons. There are also a number of whiteboard or highlighter tools available to ensure an enhanced visual experience.

Leveraging the Unblu’s Co-Browsing solution

In those moments where more hand-on support or contextual interaction is needed, Co-Browsing tools offer the ability to walk the client through detailed documentation or better explain complex forms. Here are some of the most important ways that Co-Browsing technology can aid both wealth advisors and investors. 

Acquiring and onboarding new clients

Client onboarding is a key moment in the relationship for wealth managers as it defines service expectations moving forward. There’s a common idea that wealth management onboarding can take considerable time as there is a vast amount of legal and personal data needed. It’s unsurprising then that 95% of wealth advisors singled out better onboarding automation as a goal for the future.

While automation plays a key role in this – from appointment booking to simple form filling – there comes a stage where a more personalized digital interaction is needed. This is where Co-Browsing comes into its own. During the cobrowse session, the manager can easily outline the expectations, fill out complicated forms with them, explore complex investment products, or create a list of the documents needed for KYC and AML checks. Once the call ends, these documents can be uploaded to the Conversational Engagement Platform’s other communication channels or portals without any issue. 

A smooth user experience across the board can have a huge impact on the quality of the onboarding process. Statistics taken from our own customers at Unblu found that these tools led to an increase in meetings of 20-30% and a 15-20% boost in the conversion rate. 

Accelerating AUM growth

Now long ago, meaningful interactions with clients took place over lunches or coffee meetings. While these still occasionally take place, there’s an undeniable shift to digital-only communication due to the convenience it offers. 

While this new context benefits both wealth managers and investors, there is a risk that quality can be sacrificed. The fact is that clients do want convenience – but they don’t want it at the expense of meaningful conversations. 

This is particularly true when it comes to more complex topics where clients want real-time assistance to discuss their portfolios, carry out collaborative research, examine investment opportunities, or simply take care of pending paperwork. Co-Browsing offers the ability to do this in a way that goes beyond what’s possible even in an in-person context. 

With maximum security guaranteed at all times, the client and advisor can discuss all aspects in depth and even sign the necessary documents then and there. Once the conversation ends, all documentation or research is available in a secure location that’s accessible to the client or the advisor. 

At Unblu, our customers report not only a 20% reduction in the time spent in meetings, but an incredible client satisfaction rating of 90-95% – giving clients’ assets under management the best chance of sustained, long-term growth.

Existing client support

The wealth management relationship isn’t just about new investments or portfolio reviews. There are numerous customer support issues that can appear from one day to the next, each of which may require a unique level of support. 

Many of these client queries can be dealt with using chatbots or other self-service tools. For example, if a client has changed their address it’s unlikely that they’ll need human support. However, it’s also true that more complex queries will need to be escalated to their advisor. Unlike investment consultations, the client is more likely to view these interactions as a nuisance that needs to be resolved rather than an opportunity to grow their assets. 

This means that efficiency in resolving client support issues becomes the most important KPI, with a smooth experience maintaining the strong relationship that’s been built up over time. Failure to meet expectations in this regard, if serious enough, can even have a negative impact on the entire relationship. 

These are all issues from the client side, but it’s also true that the advisor or wealth management firm has an interest in swift resolutions. By dealing with client support issues, the advisor’s attention is diverted from potentially more profitable conversations or interactions, whether that’s client acquisition or portfolio investment opportunities.  

For both parties, launching Co-Browsing sessions for more complex customer issues can lead to enhanced collaboration between users for swifter and more positive service resolutions – that also reduce costs. In fact, Unblu customers report a 50% reduction in time/cost on support along with a 3X boost in productivity thanks to these methods. 

Want to find out more about how Co-Browsing technology can benefit both your advisors and clients? Book a demo today and we’ll get back to you as soon as we can.