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What is Secure Messaging – and what role does it play in private wealth? 


The wealth management space has changed irrevocably. A combination of global developments, technological progress, generational shifts, and new opportunities have transformed the landscape.

The growing mainstream market has led to a new type of investor who have unprecedented access to the wealth sector and are more likely to question traditional practices or authorities. Then there’s the notable rise in female-owned wealth, with UBS’s Women’s Wealth 2030 predicting that women will own a combined 97 trillion US dollars by 2024.

And that’s without mentioning the ongoing “great wealth transfer,” which will see around $60 trillion in wealth move from the Boomer generation to younger ones by 2060. To further emphasize the changes taking place, we can also look at complex geopolitical situations, a rise in cost of living and interest, or even the ever-lingering effects of the pandemic.

There’s much to contend with on a macro level, but perhaps the most important area in terms of day-to-day relationship building is the complete overhaul of how clients access their services. Regardless of the specific investments that individuals are interested in – or the ramifications of global events – how clients want to interact with their advisors has transformed.

Shifting client preferences

The traditional dinner, coffee, or other in-person meetings that once defined client-advisor relationships have given way to a more hybrid approach. Much of this is generational, with 34% of millennial and 35% of Gen X investors claiming that hybrid access to advice is important when choosing an advisor. As the generational shift continues to take place, we can expect these numbers to rise.

That said, technology alone isn’t enough to satisfy client needs, with personalized support still essential for a well-rounded service. In short, clients want to talk to real people, but using the channels of their choice. For more complex decisions or moments of truth, this may require video calls or Co-Browsing, but what happens for the more normal, day-to-day interactions?

This is where Secure Messaging comes into the picture.

What is Secure Messenger?

On the surface, Unblu’s Secure Messaging appears to be exactly the same as many popular messaging apps that are already on the market, such as WhatsApp, Facebook Messenger, etc. This, in fact, is the secret to its success.

While these popular apps are convenient to use, they present significant risks in terms of data security and adhering to industry standard compliance requirements surrounding message recording. Sending industry-standard secure messages, on the other hand, offer the benefits of popular apps but are also secure, omnichannel, compliant, and operational even in protected environments.

The benefits of Secure Messaging apps

Secure Messaging services offer a number of benefits across contexts in the financial services industry. In private wealth, it can streamline communications for both the client and advisors – with further benefits for the private bank or wealth management firm itself. 

How Secure Messenger streamlines client communication

Let’s look firstly at the benefits of enhanced message security for the client and advisor.

Secure Messaging solutions can be integrated into a firm’s existing channels, whether portals, mobile apps, or more. This means it’s possible to send text messages, images, and files, while remaining confident that the attachments are safe and secure.

While the Secure Messaging app is designed for asynchronous communication and file sharing, it does also give the user instant feedback, allowing them to see who is online, typing, or post statuses to keep the client up to date.

Finally, accessing the app is both secure and easy, with Single Sign On – after which clients can get browser or native mobile device notifications to always know what’s going on.

How Secure Messaging supports the institution

By design, many of the above user features replicate the experience of popular messaging apps. However, while using WhatsApp or similar platforms can present a number of challenges at the organizational level, Secure Messenger protects the institution and empowers it to offer a superior service experience.

The Secure Messaging platform’s’s omnichannel capabilities are further enhanced by the ability to designate back-up representatives for when the primary advisor isn’t available. Likewise, advisors can invite team members or experts to help with specific conversations or advise on topics. To speed up conversations and hold multiple efficiently at the same time, advisors can make use of canned responses for quick feedback.

Finally, the Secure Messaging software itself is inherently flexible. It can be integrated with other systems like CRMs, CBSs, bots, etc, and is easy to embed. This means you can display the Secure Messenger access on your e-banking, client portal, website, or mobile app – so clients can always communicate on their terms.

Secure Messaging solutions as part of a larger journey

Secure Messaging services facilitate easy, asynchronous communication that mimics how we like to communicate in real life. However, not every conversation will take place only on this channel. As part of the overarching Conversational Engagement Platform, Secure Messenger allows advisors to escalate the conversation as and when required for maximum support.

Take, for example, the common case where an advisor or client has an investment proposal. What would that journey look like?

Investment suggestion

Assuming the client and advisor already have a relationship, the initial contact could be made by either party. It could be that the client was reading about a possible investment online and wants answers to basic questions, or the advisor has found an opportunity they believe the client might be interested in.

Either way, the first contact takes place over a Secure Messaging solution, with one sharing the suggestion with the other.

Sharing a document

The advisor, having done some research into the opportunity, shares a secure-delivery document with the client at a later point in the day or potentially the day after. The client, at their leisure, looks at the document and replies to the client with some questions.

Escalating to a video call

Since the questions are a little difficult to answer via text message, the advisor suggests escalating the conversation to a voice call or a video call. The client replies that they’re busy and so they arrange a time later in the day.

Launching Co-Browsing

Once on the call, the advisor begins to go through the answers to the questions. This goes well at first, but after a while, the client begins to confuse different parts of the document. To add an extra layer of effective communication, the advisor launches a Co-Browsing session without leaving the current channel, allowing both the client and the advisor to see and interact with the same document.

Making the investment

The promising details alongside the ease of communication encourages the client and they decide they’re ready to sign. Thanks to Co-Browsing capabilities, they are able to do it then and there, getting a legally binding signature in a secure environment. The conversation ends and the client sends the advisor a final message over the Secure Messaging app thanking them for their support.

Direct secure messaging with Unblu

Ensuring secure communications, particularly those that take place on personal phones, is a priority for wealth management firms. While standard messaging is popular, the online threats and ensuring compliance with industry regulations means that firms must embrace the security features that private messaging apps offer. 

Being able to send and receive secure messages will not only guarantee compliance, but it also solves one of the main communication challenges that teams face – convenience. Equipping your team with the ability to send direct messages is one of the primary methods of communication that lead to accelerated AUM growth. 

Want to find out more about a secure text messaging application that offers a higher quality of communication and boosts revenues? Contact us today for a free personalized demo.