From the typical (”we have no time”) to the offensive (”our clients are too old”), we’ve heard it all. And we take pleasure in debunking them all here.

The importance of client portal software cannot be overstated. However, there are still lingering misconceptions and objections that prevent some businesses from investing in this essential tool. In this post, I aim to debunk the top 10 reasons commonly cited by Wealth Managers for not investing in client portal software.

1. The typical: “We have no time”

By far the most typical excuse for delaying a Client Portal project. We really get it. So much so that we created Invessed to help you deal with this problem. You tell us what you need, we make it happen.

2. The delayed: “Our data is not ready”

This is a sensible reason, but in favour of Client Portal Software. Your data is your business. A Client Portal project will force you prioritise sorting out your data, for internal and Client use.

3. The tight: “It is too expensive”

You are probably charging your clients ~2% of their assets to manage it. We think that investing 1% of that revenue to Client Portal Software is reasonable - and in line with expectations.

4. The concerned: “We are worried about security”

And so you should be, it’s a massive issue. Distributing reports and data without a Client Portal is a security problem. It’s called a Portal because you can lock it.

5. The naive: “We get a free client portal with the CRM”

They are “free” as in “no one would pay money” for this kit. Most of them are clunky, slow, unsupported, inflexible and ugly. Client experience is too important to be an afterthought.

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6. The snowflakes: “Our business is unique”

Everyone thinks this, and it is partially true. However, compliance, reporting and client expectations are common. Our technology is flexible enough to handle the “unique” parts.

7. The dinosaurs: “We send quarterly PDFs via email”

No more printing and posting, huh? You got this “digital” thing all sussed out, right? Think again: email is insecure, PDFs look awful on mobile, and anything other than on-demand reporting is pants.

8. The offensive: “Our clients are too old”

We’ve not heard this for a while, but it still comes up. The idea that people of a certain age are not savvy with tech is nonsense. Just ask your clients.

9. The deaf: “Clients are not asking for it”

Yes they do, though they phrase it as a problem, when they demand more “transparency”, “immediacy” or “better service”. They will not give you the solution on a platter and ask for Client Portal Software.

10. The crooked: “We do not want clients to have that much access”

Some companies think that more transparency will lead to more unpleasant conversations. This is untrue, and also a symptom of deeper issues. All other objections we can handle. This one’s a show-stopper.


Estimated combined AuM of Invessed key accounts. We work with Asset and Wealth managers, Private banks and Fintech creators across Europe and beyond.

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For wealth managers, a Client Portal is not a luxury; it is a necessity for businesses looking to enhance client experience, streamline operations, and stay competitive in the market. By debunking the misconceptions surrounding Client Portals, we hope to encourage businesses to embrace this transformative technology. Don't let these myths hold you back any longer. Embrace the power of a Client Portal and unlock new opportunities for growth and success.

Theo Paraskevopoulos

Streamline your operations, optimise investment strategies, and deliver exceptional client experiences. Schedule a demo today and unlock the future of wealth management.

Theo Paraskevopoulos is the CEO at Invessed
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