Digital Workflows vs Paper Processes: What Forward-Thinking Firms Choose in 2025

Wealth management firms today are no longer competing on investment performance alone. In the competitive wealth management world, many firms compete on client experience. Yet many firms still rely on paper checklists, scattered spreadsheets and manual workflows that slow them down.

Advisors who adopt digital systems see faster onboarding, better collaboration and fewer client errors. They gain visibility across their team’s workload and can focus on meaningful conversations instead of chasing signatures or searching for lost paperwork.

The question is not whether firms should go digital; it is how far behind they can afford to fall if they do not.

Client Experience Starts With Clarity

The first impression sets the tone for a long-term client relationship. When a client’s first experience involves a pile of paper forms or multiple emails requesting missing information, it sends the wrong message.

Digital workflows make onboarding intuitive. Clients can review, sign and submit forms on their own time while advisors track progress in one place. Tasks update automatically as steps are completed and the client’s data flows securely to the right systems without rekeying.

Paper-based processes add friction. They require repetition, manual tracking and follow-ups that make both sides frustrated. A disorganized process can make clients question the firm’s attention to detail.

A digital experience is a great way to build trust with clients, which ranks higher than any other attribute (including high returns) that clients look for in an advisor.  

Operational Efficiency and Scalability

A recent survey by J.D. Power found that nearly one-third of advisors report not having enough time to spend with clients because of time-consuming administrative tasks. Between managing emails, updating CRMs and preparing paperwork, firms spend hours each week on manual follow-ups.

Digital workflows help reduce that waste. Processes that once required multiple tools or team members can be streamlined into a single, repeatable system. Automated task assignments and reminders keep everything moving.

Paper-based methods limit a firm’s capacity to grow. Even with the most organized filing systems, manual workflows cannot scale. Each new client adds more time and potential for error. Digital processes free up capacity and help teams handle higher client volume without losing quality.

Staying Compliant Without Losing Time

Regulatory compliance is a fundamental part of running a trusted practice. However, the way firms manage it makes a big difference in how much time and risk it costs.

Manual documentation and recordkeeping create opportunities for errors and missed deadlines. A paper audit trail is harder to maintain and nearly impossible to keep current. Digital workflows simplify compliance by embedding the right steps into each process. For example, issues with paper applications accounted for 60% of firms’ total NIGO rates across the financial industry.

Automated task tracking, time-stamped records and centralized storage make it easy to prove what was done and when. When workflows are connected across your systems, updates to KYC, AML and data policies are automatically reflected in every client process.

The Clear Winner: Connected Digital Workflows

Digital workflows give teams the clarity, accountability and structure needed to deliver a consistent client experience. Advisors gain visibility into every stage of onboarding and review, operations teams have fewer errors to fix and clients enjoy a smooth process from start to finish.

Hubly helps advisory firms start each day with purpose and focus. With visual dashboards, real time task tracking and easy-to-build automations, Hubly keeps your team organized and ensures nothing falls through the cracks.

Start your 30-day free trial today and see how Hubly can transform your firm’s efficiency, visibility and client experience.