Tyler Honeycutt
UBS Wealth Management
A Personalized Digital Experience for High Net Worth Prospects
A leading wealth management bank's reliance on traditional, word-of-mouth client acquisition methods was impacting their competitive edge. The lack of a robust digital platform was affecting conversion rates of high net and ultra-high net worth prospects, undermining the bank's growth potential and market positioning.
Role
UI/UX Designer
Platforms
Responsive Web
Team
Project Managers (2)
Business Analyst
Ui/UX Designers (2)
Experience Consultant
Deliverables
Stakeholder & Client Interviews
Competitive Analysis
Wireframes
High-Fidelity Mockups
Prototypes
Executive Presentation
Roadmap
Research Assets
Final Design and Outcome
A total redesign of the wealth management bank's user portal was proposed to provide a personalized and interactive experience. This innovative solution was lauded by financial advisors, marking a significant leap from the current state. This proposed overhaul outlined over 10 areas for improvement, addressing 180+ pain points, providing the bank with a roadmap for their digital transformation.
“Wow. It is imperative to connect digitally early on... Suddenly this feels like a breeze“
— Financial Advisor After Seeing the Proposed Changes
Customized home screen experiences that cater to the prospect's interests.
There Was a Lack of Prospect Satisfaction and Conversion
The bank, a known wealth management solution for high and ultra-high net worth individuals, was heavily reliant on manual, word-of-mouth processes for client acquisition. Their digital offerings lagged behind other institutions, presenting a gap in understanding prospect satisfaction and conversion.
Heavy research and aggregation of findings let us to identify key pain points in the current prospect experience.
There Were No Robust Digital Offerings
Despite being a leading wealth management bank, they lacked a robust digital platform that could engage prospects and foster higher conversion rates. This resulted from their adherence to traditional manual methods of client acquisition and a lack of sufficient digital strategies.
Mapping out the prospective clients' entire journey helped us pinpoint areas of friction, highlighting where change was needed.
Collaborative Investigation Leads to Answers
I played an integral part in conducting a competitive analysis, interviewing financial advisors, and crafting design artifacts. I utilized Figma and Miro to create detailed customer and advisor experience maps, wireframes, and high-fidelity prototypes. The process was guided by one key question:
What does a prospective client want, and why do they want it?
Some examples of the custom modules recommended to enhance a prospective clients experience.
We Designed a Highly Personalized Prospect Experience
We discovered that high net and ultra-high net worth individuals sought a personalized digital experience that fostered trust in their financial advisors. From this insight, I recommended the creation of personalized welcome pages, interactive features, and a system for sharing information about clients' financial goals and progress.
“Light years ahead - This is exactly what we need.“
— Financial Advisor After Seeing the Proposed Changes
A view of the entire proposed home view, highlighting added customization and transparency into the process.
Activities and Outputs
- 7+ Financial Advisor Interviews
- 100+ Pain Points Identified
- 9 Focused Opportunities for Improvement
- Business Case
- Road Map
Where We Landed
Through careful analysis, collaborative work, and innovative design, we identified pain points and potential growth opportunities in the bank's digital offerings. The resulting design, well-received by financial advisors, provided the bank with a blueprint for a more effective and modern digital platform that catered to their affluent clientele. The success of this case reaffirms the importance of user-centered design in transforming digital platforms in the finance sector.
Where it was, verses what we proposed. Different parts of the design would change based on who the prospect was, considering things like their age, net worth, and interests.
