This article will cover 5 common advisor portals that clients were experiencing along with the solutions that are essential in fixing these problems.
Problem #1 Enterprises Lack a Governance Model
Who manages the advisor portal in your organization? What team is responsible for updating it and ensuring content is accurate? Deciding on who owns the portal can be one of the most difficult tasks for a company. The success or failure of a portal is often dependent on who takes ownership. The ownership of the portal can often lead to a successful one or unsuccessful one.
Complicating this process is the fact that some organizations will assign portions of the intranet to various groups/departments (e.g. Corporate Communications owns the content, IT owns the technology) meaning that gray areas can arise when delegating responsibilities.
Solution: Connect with the key people in your organization to define who makes what decisions, who is accountable, and how each group collaborates to manage the portal effectively. Having a senior executive that is an advocate for the portal and oversees the portal governance is crucial for its success and can bridge the gaps between groups/departments.
Problem #2: Portals are Outdated and Lack Easy to Use Functionality
When advisor portals lack fresh, updated content, and are difficult to use; this results in:
• Employees providing inaccurate or outdated information to prospects or clients.
• Advisors being unable to easily access the information and tools they need when with a client. This creates a poor client experience, which reflects poorly on the advisor and organization.
• The portal becoming something advisors lose trust in.
Solution: Leverage the people who will be using the portal every day. What is important to them? What tools, calculators, documents do they need to access easily? What tasks do they do multiple times a day when meeting with clients that should be easily accessed? Identifying how content is created, stored, accessed and how often it is used in a formal portal content plan can help resolve these problems. By properly solving problem #1, organizations can often avoid problem #2.