Capital-raising punishment: Painful process
Onboarding can often take months, starting from opening the new account, identifying the client’s specific needs, completing the necessary regulatory checks and verifications, qualifying leads for potential investors, to recommending financial products. A study by Kofax highlighted that it takes on average 41 days to onboard high-net-worth clients. The end-to-end process sees industry professionals tearing their hair out from inefficient spreadsheets and inconsistent documentation collection.
The utopian dream of an onboarding process as silky smooth as melted chocolate is distant for many fund managers.
Categories: AnalysisFundraising & fund structuringFund docsFund financeOutsourcingLegal & compliance advisoryRegs & ComplianceCompliance softwareRegulatory updateReporting & Transparency Reporting softwareTechnologyCompliance softwareReporting portalReporting softwareTech providers