IFS, the leading provider of client onboarding and funding solutions for the financial services industry, announced it has joined the Advisor Innovation Labs (A.I. Labs) platform, unifying its business process automation services and creating across-the-tech-stack efficiencies for advisors and their clients.
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IFS has developed configurable onboarding and funding solutions that leverage industry best practices to deliver solutions quickly while supporting customization. As part of A.I. Labs’ open-architecture ecosystem, IFS can enhance existing clients’ user experience while expanding its offerings to other broker-dealers, RIA consolidators, and RIA custodians.
Robo-advisors went to market with end-to-end digital onboarding capabilities, exposing the shortcomings of traditional onboarding processes that involve a myriad of disparate systems. The combination of the A.I. Labs’ unifying data platform and IFS enterprise workflow automation will enable wealth management firms to take their client and advisor experiences to the next level.
“Clients have come to expect a digital-first experience and any rekeying of data shows that your firm’s technology is lacking and is not focused on making the clients’ lives easier,” explains Craig Iskowitz, Founder and CEO, Ezra Group. “What can be equally important is the firm’s productivity, which can take a huge hit if there are glitches in the account opening process.”
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“In the A.I. Labs ecosystem, we’ve eliminated any friction advisors have in toggling between our onboarding and funding services, and the other tools they rely upon to serve their clients,” says Ray Mulligan, Managing Director, Product Strategy, IFS. “Thanks to our ability to provide a multi-custodial integrated onboarding solution, advisors can now open accounts for a household, select products, and fund the accounts all in a matter of minutes in a single, unified experience.”