Toronto-based Monarch Wealth Corp. is launching an end-to-end digital platform for its advisors, which will enable those advisors to fully onboard their clients in an electronic manner.
Monarch’s system uses Toronto-based Fundserv Inc.’s “eDOCS” program, a paperless onboarding system that functions across various mobile devices and allows for electronic signatures.
“Fundserv’s eDOCS initiative is an integral part of our digital console for advisors,” says Yama Yaqeen, vice president of operations and technology at Monarch, in a statement released Monday. “The eDOCS feature allows advisors to easily and efficiently onboard nominee accounts, reducing paperwork and administration and eliminates ‘not in good order’ errors, which gives advisors more time to add client value.”
The eDOCS program is an opportunity for the investment management industry to conduct business efficiently and securely, adds Harry Gundy, director of product management for Fundserv, in a statement.
Monarch’s new digital platform provides fee-based account management, model portfolio solutions and automated rebalancing and related trades in addition to a contact management system. It also allows for the electronic delivery of client statements and related regulatory documents through secure email links.
“With time freed up to devote to clients, advisors can provide fee transparency and fee based accounts and focus more time on life-stage planning and holistic wealth management with their clients,” the announcement states.
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