On-boarding and In-boarding

Paolo Sironi and Maurizio Ravezzi

This chapter presents the basic nodes of the next generation of financial advice, which is divided into an initial on-boarding phase and an in-boarding process. The first phase concerns the profiling of clients and their wealth, allowing individual goals to enter into the wealth-allocation framework. The in-boarding process, instead, engineers a compliant investment solution within the on-boarding framework (based on market analysis, product selection and portfolio construction).

INTRODUCTION

The dialogue between clients and financial advisers consists of a logical workflow that generates and allows all the elements of the added value of the investment relationship to be monitored, within a regulatory framework that protects final investors. This workflow is made up of a series of interactive, cognitive and decision-making steps that enable a holistic approach personalised on individual investment requirements (financial and nonfinancial), and takes in accounting, legal and taxation aspects. Investors’ needs and goals take centre stage, inducing industrialised practices to merge with financial investment techniques and financial planning representations. The main nodes of value