Client Onboarding
Structured process of taking a new client from sign-up to first review.
Client onboarding is the structured process of moving a prospect from "agreed to proceed" into "fully onboarded client with an active advice relationship", and it is one of the largest drop-off points in adviser pipelines.
A compliant onboarding covers six steps. Identity and address verification under Money Laundering Regulations 2017, typically via an electronic ID check plus supporting documents. Source of funds and source of wealth for investment or transfer business. Client Agreement and service-level disclosure under COBS 6.1 with fees, scope of service and cancellation rights. Fact-find completion to COBS 9 suitability standard. Attitude to risk and capacity for loss assessment. Advice delivery with suitability report, product application and trail-fee setup.
Typical time-to-onboard ranges from two weeks for a simple protection case, four to six weeks for ISA or general investment business, and eight to 14 weeks for pension transfer cases involving ceding-scheme communications.
The onboarding experience is both a regulatory process and a brand moment. Firms that treat it as a white-glove handover with clear expectations, a named point of contact, and a live "what happens next" portal lift referral rates in the first 90 days by 20 to 35 per cent.
From a marketing perspective, onboarding begins at the moment a prospect fills in a lead form, not the moment they sign the client agreement. Pre-onboarding nurture (a welcome email, meeting-prep pack, relevant educational content) measurably reduces no-show and drop-off rates in the critical first two weeks.
See also: fact-find, suitability report, Consumer Duty, CRM.