Jason talks to Nicholas Bernardo, Founder & CEO of OnBord; a simple, secure tool with automated compliance features that will save you time and money while onboarding new clients. OnBord is built to streamline the new client experience for not only the advisors but also their clients.
Episode Highlights
- 03.02: Nick talks about his profile and what prompted him to launch OnBord. He also talks about how simple the tool is and the feedback that he has received from few of his clients.
- 05.32: Jason and Nick talk about the inconvenience caused during manual data filing or data gathering process.
- 06.17: Nick explains how they have created the ability to do a bulk transfer. Now they are working to eliminate that custodial spreadsheet so that if you are an advisor looking to leave a wire house or leave a broker-dealer that's protocol or non-protocol you have all kinds of limitations around what you can take.
- 7.18: Nick talks about their data gathering process and how they don't actually hold any of the client data.
- 09.32: Nick explains OnBord's entire work process flow and how it is all automated.
- 11.04: Nick explains once the client completes the flow, they also receive an e-mail from the firm, welcoming them again, stating kind functions of the CSA and then also putting out the e-mail as disclosure documents that way that is one step that the CSA team has to do.
- 13.10: Nick explains how they are currently working on the KYC module right now so that they can update that and push it right back to the advisor's CRM.
- 18.20: Nick explains how OnBord shows real time status of clients filling in their information and how it helps to save a lot of time and efforts.
- 23.05: Features and functions we have an unbelievably long list of features and functions that. We want to put out there, but right now it's about solving the core problem right and showing the most value to the same, says Nick.
- 31.00: OnBord is a core technology for almost every RA in the in the country and maybe even in the world.
3 Key Points
- Nick talks about how well OnBord uses automation to create great user experience. He says that they are not asking them complicated questions, they are asking the minimum amount of information that the custodian wants in order to open their account.
- Nick explains how they leverage text as a means of engagement of the consumers.
- Any business that gets new clients and needs information to get from the client to their database and potentially you know signed off on a form, that's our opportunity, says Nick.
Tweetable Quotes
- "We are looking to make use technologies to flatten this whole experience out and that way the advisor and CSA, all they have to do is manage the process." - Nick
- "If you are a broker dealer and you need to update KYC on an annual basis, we'll be able to administrate the entire process for you." – Nick
- "Getting people's attention via text message and a reminder say hey by the way we need to get this done it. We're finding that you know response times are faster." - Nick
Resources Mentioned
- Facebook – Jason Pereira's Facebook
- LinkedIn – Jason Pereira's LinkedIn
- Woodgate.com – Sponsor
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