Herndon, Va. | March 11, 2021—Skience, a leading digital enablement solution and consulting provider, today launched its Advisor Transitions Solution, a new tool that streamlines, digitizes and simplifies the process by which advisors changing wealth management firms can transfer client assets to a new platform.
Skience President and Chief Operating Officer Marc Butler said, “Transitions today have significant potential legal and compliance risks, poor advisor and investor experiences and error-prone manual data entry processes, resulting in delays in the migration of advisors and their clients. Skience’s Advisor Transitions Solution addresses these and many other shortcomings through an elegant, all-digital experience, helping to ensure that advisors and their client assets are transferred without needless delays.”
The new Advisor Transitions Solution tool allows advisors to:
- Open client accounts and then transfer assets faster than manual transition processes allow
- Easily communicate and collaborate with clients when collecting required personal information to open accounts and make transfers, and remain compliant with all industry regulations related to those tasks
- Enjoy guided workflows, including real-time validation checks, to facilitate the seamless transmission of client data to new custodial or clearing platforms and the creation of accounts
When changing firms, broker-dealers, advisors, and custodians can face significant fines if they do not protect client data or follow the proper transition steps, while re-papering accounts manually and other overly complicated procedures can lead to delays and leave clients frustrated. The Skience Advisor Transitions Solution tool helps advisors navigate these pivotal processes correctly and with confidence, allowing them to avoid mistakes that have led others to lose business.
Mr. Butler concluded, “Skience’s Advisor Transitions Solution helps make an advisor’s transition the momentous occasion it should be – a great opportunity for them to position themselves for a better future. For clients, a transition that happens quickly, seamlessly and in compliance with regulatory requirements is even more important, both in setting them up for continued success and in creating added trust and confidence in their advisor.”
Skience delivers innovative and cloud-enabled digital strategies and solutions that transform financial services businesses. Skience offers consulting services and an award-winning integrated platform that provides wealth management firms and RIAs an efficient way to unify their technology, increase back-office and advisor productivity, and set the stage for an exceptional experience for financial professionals and their clients. The Skience platform features a streamlined, end-to-end client onboarding and new account opening experience, deep integrations with leading custodial and clearing firms, compliance features, and daily data consolidation. Skience received a 2020 Technology Provider award from WealthManagement.com, a 2020 American Business Awards® Silver Stevie® award for fintech solutions, and was a Northern Virginia Technology Council Tech 100 honoree in 2019 and 2020. Visit Skience.com to learn more.