Docupace Advisor Transitions Program Celebrates 500,000th Client Account Served

Strategic integration unlocks efficient, frictionless and fully digital process for opening advisory accounts

LOS ANGELES, June 28, 2022 – Docupace, the leader in cloud-based fintech digital operations software for the wealth management industry, today announces the successful transition of 500,000 client accounts for financial advisors moving to a new wealth management provider. Launched in 2017, the turn-key Advisor Transitions Program from Docupace is designed to help transitioning advisors “re-paper” all client accounts at one time, as they move from one wealth management provider to another.

“Docupace is honored so many advisors have entrusted our team of experts to help guide them along one of the biggest business decisions they’ll ever make,” says David Knoch, chief executive officer for Docupace. “When a financial advisor engages our Advisor Transitions Program, they’ve already made the decision to enter the next phase of their journey – we just enable them, and their clients get there faster.”

Since the program’s inception in 2017, the Advisor Transitions Program from Docupace has executed more than 1,300 financial advisor transitions. Currently, six of the top 16 independent broker-dealers in America leverage this program to bring new advisors and firms into their communities.

“At Docupace, we exist to turn financial planning into financial planning well-executed; and the successful transition from one partner to another requires the right technology, the right messaging to clients, the right sequence of steps and the right people guiding you along the way,” says Knoch.

Advisor Transitions Program from Docupace

The Advisor Transitions Program from Docupace is designed to transition advisors and their clients effectively and efficiently from one wealth management provider to another.

However, the process to “repaper” client accounts can create heightened anxiety for transitioning advisors and it is critical the appropriate sequence of steps is followed. Due to SEC/ FINRA regulations, an advisor’s new firm cannot have access to client information until their affiliation is complete. To move an advisor’s clients and accounts, completing new account “paperwork” has historically been a very manual, labor-intensive process that can cause disruption to the advisor’s business and client relationships. Docupace’s process combines electronic document delivery, eSignature and white-glove service from professionals to digitize and streamline this arduous process.

These transitions commonly take as long as six months (180 days) or more to complete. The Docupace program transitioned more than 68% of client accounts in 30 days or less; roughly 93% transitioned in 60 days in 2021.

While proprietary technology behind Docupace’s transitions program expedites the transition, the Program’s true “secret sauce” is the team of in-house transition specialists who serve as expert guides, sounding boards and stress relievers throughout the multi-stage process. These transition specialists understand the delicate nature of advisor transitions and provide both technological and emotional support.

“The Advisor Transitions team is here to help the best advisors succeed, wherever they may be. Transitioning a book of business is an intricate, time-consuming process, but Docupace’s outstanding professionals, with their commitment to service, have time and again delivered for advisors, minimizing disruptions and loss of revenue, ” Knoch said.

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About Docupace

Docupace is a solutions provider focused on digitizing and automating operations in the financial advice and investment industry. Financial services firms use the Docupace Platform (a cloud-based, integrated software suite) to reduce back-office expenses, improve efficiency, strengthen recruiting, and enhance the experience of advisors and investors. With headquarters in Los Angeles, California, Docupace is proud to serve some of the largest independent broker-dealers and registered investment advisers (RIAs) in the financial services industry.

For more information, please visit www.docupace.com.