At a glance
- Onboarding builds trust, aligns goals and ensures client success.
- Clear processes and technology can enhance relationships and retention.
- Ongoing support and education drive added value and growth.
Onboarding isn’t a tick box exercise where you simply collect a few forms; it’s one of the first experiences a client has with your firm and an opportunity to build a foundation of trust.
With a well designed process, you’re setting clients up for clarity and confidence, increasing retention, and streamlining communication. Without it, you risk misalignment, high client churn rates and valuable commercial opportunities may go unnoticed.
1. Have a repeatable process
To deliver a seamless, end-to-end experience, map out an onboarding framework that you can replicate and tweak for every client. Not only will this give your clients confidence in your expertise and help alleviate any doubts they may have, it’ll also make sure your team stays organised and efficient.
Daniel Murray, director at Ryan, says his firm starts onboarding by agreeing on a plan, the client’s expectations and deliverables.
“This means that we can be more aligned internally, so that when a client walks through the door, they feel complete confidence in the journey they are about to start with us,” he says.
What to include in an onboarding framework:
- Internal onboarding meeting.
- Templated client communications.
- A system for KYC (know your client) and AML (anti-money laundering) and GDPR requirements.
- An internal checklist for document gathering.
- Defined, regular client meetings and status updates.
2. Lead an impactful first meeting
The first client meeting is an opportunity to demonstrate that you understand their goals beyond immediate accounting needs and compliance. Frame this as a discovery session to identify what truly matters to them, such as long-term growth or personal wealth management. It’s an opportunity to start providing value by identifying challenges your client isn’t even aware of yet.
Tips for your first meeting:
- Get it in the diary fast – don’t wait for them to become disinterested.
- Recap your engagement terms to align expectations.
- Ask questions to uncover lifestyle and business goals.
- Confirm contact protocols and set expectations for response times.
- Discuss next steps, such as initial data gathering, so they feel informed.
Emma Birchall, accounts partner at JS, says communication is important from the outset.
“We discuss preferred communication methods to ensure seamless and comfortable contact, and we establish clear timelines, so clients know when to expect updates and deliverables,” she says.
3. Leverage technology
Investing in technology shows clients you’re innovative, committed to security and helps maximise onboarding efficiency. Here’s how you can elevate your clients’ experience:
- Offer a centralised client portal where they can upload documents and view timelines.
- Set up automated KYC and AML checks through specialist software.
- Invest in a project management tool that offers real-time visibility into each onboarding phase.
4. Introduce the team
Your clients need to feel fully supported by a team that understands both their goals and the technical details of their financial needs. Ms Birchall says face-to-face meetings reassure clients and set clear contact points.
“This allows us to identify the client’s specific needs and introduce the team members who will be dedicated to their account, fostering transparency and trust,” she says.
- Introduce specialists across tax, compliance and advisory to showcase your firm’s depth.
- Specify who handles each area, from queries to in-depth analysis.
5. Educate on financial tools and reports
First-time business owners could benefit from guidance on financial basics – education empowers them to make better decisions and helps them understand your value beyond compliance. Onboarding is an ideal time to provide a simple primer on the essential reports and tools you’ll be sharing with them, positioning you as an advisor invested in their growth.
What to cover
- Explain key reports like cash flow statements and budgeting forecasts.
- Introduce basic tax planning concepts.
- Demonstrate simple metrics to track financial health.
Murray says each onboarding process is unique.
“In reality, each client’s onboarding journey will look different but if you take the time to understand your clients’ challenges and their goals, you will be more likely to succeed in the relationship as a whole,” he says.
But your commitment shouldn’t stop when onboarding is finished: ensure you’ve got systems in place for regular check-ins, refreshers on financial tools and open feedback channels. These measures will strengthen your relationships and could also help you identify new opportunities to add value and encourage referrals that grow your practice.
More information on IFA’s webinar series on future proofing your business, technology and communication HERE.
