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Tailoring the Wealth Management Experience for Clients and Advisors

The Challenge

With an increasingly tech-savvy client and advisor base, the private banking arm of a U.S. regional bank and wealth manager sought to update its digital capabilities.

The bank’s traditional high-touch service model fell short of the experience clients expect. Onboarding processes were lengthy, due to the bank’s manual operating model across its front, middle and back office. Disconnected systems hampered advisors’ productivity. Without digital channels and tools, the bank found that its ability to retain and attract clients was limited.

After a competitive bidding process, the bank engaged Cognizant for a 10-week consulting project to help define its digital vision and develop a roadmap for digital transformation.

Our Approach

Our capital markets digital solutions team used design thinking to redefine the bank’s client experience. Through a set of collaborative workshops with stakeholders across the organization, we identified friction points in client, advisor and operations experience. Our approach challenged stakeholders to think about what drives exceptional experience. Our teams ideated on future-state processes and capabilities, including advisor and client portals.

Partnering with advisors and relationship managers, we uncovered the process and technology pain points that impeded productivity and client satisfaction. We interviewed field team members to gather input and establish key performance indicators (KPIs) across the advisor/client relationship lifecycle. For greater efficiency and transparency, we recommended a unified advisor portal with integrated digital capabilities and automation.

The engagement team developed current and future-state roadmaps for client experience during onboarding. The result is a target operating model for a concierge-like experience, with on-demand human intervention touchpoints augmenting technology-enabled self-service.

Gathering input from the project’s three work streams, we developed a long-term roadmap for the bank’s application environment and business initiatives. The roadmap guided the bank as it defined its desired future-state operating model. It also detailed the capabilities needed across the front, middle and back office to create the desired client and advisor experience.

The collaborative effort provided a clear path for the bank’s digital transformation.


Defining a Digital Vision

To better align its wealth-management experience with technology-savvy advisors and high-net-worth clients, a private bank defined its vision and digital operating model.


a custom digital roadmap with 20 initiatives to guide transformation over four years


advisor productivity, process bottlenecks and KPIs


areas of friction in the advisor/client relationship lifecycle