10 of the Best Digital Investor Onboarding Software Solutions

Conventional processes for onboarding investors for private investment are plagued with time-consuming, error-prone, and tedious manual activities like emailing documents, gathering information, running compliance checks, and collecting signed subscriptions. 

As a result, many capital raisers are missing out on opportunities to work with wealth advisors, family offices, high-net-worth individuals, and mass affluent investors — because they can’t cope with the volume and complexity of working with them. 

But modern investor onboarding software can address these issues and offer outstanding returns to your capital-raising efforts. To help you choose a platform that will streamline and simplify investor onboarding, let’s discuss some of the top features to look for and highlight 10 of the best investor onboarding software solutions available.

What to look for in software to support your investor onboarding process

Although onboarding software has been around for a few years now, solution offerings can vary widely. This is why it’s important to identify the one most suitable for your needs. Here are a few key factors to consider:

Valuable features

Depending on your use case and current workflow, you might need an end-to-end platform including 10+ features to revamp your entire operational flow. Or maybe you just need a standalone platform with two to four features to handle one specific problem.

Just be mindful that your immediate needs (e.g., launching a fund in three months) could differ from your long-term growth needs (e.g., penetrating wealth advisor markets). Therefore, in addition to having all the features you need today, you should give preference to software with easy add-on features you might need in the future.

Customization possibilities

While low-cost vendors usually provide less customizability to save costs, you should consider paying a premium for software with ample customization options.

For one, it’s much more costly to fit your workflow into software. Even if the vendor offers free customization to fit your workflow initially, it’s likely that your workflow will evolve and update over time, making it increasingly difficult and expensive to update.

Use case support

Depending on your investor types and objectives, your onboarding journeys need to vary. For instance, wealth managers need the ability to manage their investor sub-accounts separately and view data in the aggregate. Investors, on the other hand, with multiple account types (individual, joint, trust) need the ability to quickly switch between accounts and view accounts separately and in aggregate.

Whatever your use cases for an onboarding solution happen to be, make sure the solution you choose offers the right functionality to facilitate them.

Budget suitability

The cost of onboarding software can vary greatly depending on the factors mentioned above. The decision comes down to the value you can realize.

In general, the more investors you need to work with,  the more complex your workflows and documents are. The more parties involved in collaboration, the more value you will realize from well-designed onboarding software. 

Connectivity

If you need your onboarding software to connect to one or more fund administrators, systems, or outside vendors, it’s important to choose a solution with advanced connectivity features. WealthBlock, for example, is a vendor-agnostic platform that’s API and Webhook-friendly. This makes it an ideal choice for creating a fully connected and integrated investor onboarding system.

Choosing a platform with powerful integration capabilities is beneficial now and in the future. Not only is it important to select a solution that can integrate with your existing systems, but it’s also a good idea to choose one that can integrate with additional systems as your firm grows and its processes evolve.

The top 10 investor onboarding software solutions to support your workflows

An optimal onboarding experience is crucial for your capital-raising success. Not only does it minimize error and dropout rates, but it also allows you to build a strong brand of being professional and efficient. 

Excellent onboarding software comes with an all-in-one product set, easy-to-use features, a high degree of customizability, an intuitive design, and a beautiful interface, making it easier than ever to onboard your investors smoothly.

Below are 10 of the best software in the market to turbocharge your capital raising strategy. 

1. WealthBlock

WealthBlock offers a solution that goes beyond onboarding and subscription e-signing. This platform provides an all-in-one package to streamline the entire life cycle of investor relationship management, from investment presentations and marketing to investor onboarding and reporting.

With built-in self-configuration, WealthBlock also allows you to create custom workflows, dashboards, data rooms, digital forms, and profiles to accommodate your unique operational needs. With WealthBlock, hyper-customizability is a design philosophy that’s built into every component of the platform — and, best of all, these customizations can all be performed without any coding required.

Since all the key components are built in, WealthBlock is also more budget-friendly than most other platforms.

Features:

• Onboarding Flow Builder with self-customizability 
• Form Builder with self-configurability 
• E-sign Builder with AI field mapping and conditional logic
• Integrations with KYC, AML, KYB, and Accreditation checks
• Engagement Analytics, including all user activities on the platform
• Follow-up Reminder Automation
• CRM with unlimited self-customizable data fields
• Investment Presentation Room with self-configurable display and access controlled Data Room
• Dashboard Builder with self-customizable visualization, dataset, and aggregated views.
• User Interfaces that support wealth managers, investors with multiple accounts, and institutional investors with sub-accounts. 
• API and Webhooks

Best for: WealthBlock is best for large-scale asset management firms, broker-dealers, and investment marketplace operators.

2. Anduin

While you can’t do reporting or investment presentations, Anduin offers a standalone onboarding platform with the tools you need to onboard investors, track progress, and deliver e-sign documents.

Anduin’s electronic subscription documents and investor flows are custom-created by their staff based on your instructions, and they take up to two weeks to set up. 

Anduin offers direct commenting on their forms to allow easy communication within the platform.

Features:

• Tailored onboarding
• Direct commenting on forms
• Investor tracking
• Collect AML/KYC documents

Best for: Large asset management firms ($1+BIL in AUM) with many uniform subscription documents to process. 

3. +Subscribe

+Subscribe’s software gives you the tools you need to present documents, onboard investors, and e-sign subscription agreements. The investor portal allows you to archive all documents for easy access. For every entity, +Subscribe offers a one-time custom setup to create all subscription documents and onboarding flows.

Features:

• Electronic subscription documents
• Investor onboarding
• Investor portal
• Virtual data room

Best for: Large asset sponsors and cap-intro teams with many subscription documents to process.

4. Flow Inc.

Like +Subscribe, Flow lets you digitally present investment documents, onboard investors, and e-sign subscription documents.

Flow provides an investor portal to provide a single source of truth for fund reporting, documentation, and communication. For every subscription document, the Flow team will provide a one-time setup, which takes five to seven days.

Features:

• White labeling
• Virtual data room
• Digital subscription
• Investor portal

Best for: Mid-size to emerging asset managers with many subscription documents to process.

5. Bite Stream

Bite Stream offers an end-to-end marketplace solution to facilitate the entire investor journey. This SaaS platform lets you present investments, onboard investors, e-sign subscription documents, and provide investor reporting.

Bite Stream also allows you to white-label the platform to ensure a consistent branding experience for investors.  

Features:

• CRM 
• Client onboarding
• Virtual data room
• Investor portal
• E-signature

Best for: Best for private investment marketplace operators looking to streamline their marketplace operations.

6. Atominvest

Atominvest is a comprehensive investor onboarding solution designed to integrate seamlessly with a company’s existing workflows. This platform offers a full suite of tools designed for simplifying and automating the investor onboarding process, from data collection and verification to document management and reporting.

Atominvest is known for its high level of security and compliance features, making it a trusted choice for firms dealing with sensitive investor information. It also offers a user-friendly interface that ensures a smooth experience for investors and fund managers alike.

Features:

• Automated data collection and verification
• Secure document management
• Compliance monitoring
• Customizable onboarding workflows
• Investor reporting tools

Best for: Private equity firms, venture capital funds, and other investment firms that prioritize security and compliance.

7. Passthrough

Passthrough specializes in simplifying the complex paperwork that investor onboarding commonly requires. This platform offers a streamlined solution that reduces the time and effort required to process subscription documents. 

Not only does Passthrough generate custom sub-documents for each fundraising, but it also provides a centralized platform for document management and complete visibility into investor progress.

To further streamline the investor onboarding process, Passthrough offers a user-friendly interface and intuitive design that helps prevent errors and keep the onboarding process running smoothly. 

Features:

• Simplified subscription document processing

• Error reduction tools
• Customizable workflows

Best for: Asset managers and fund administrators looking to streamline document processing.

8. Tocan

Tocan offers a holistic investor onboarding solution that’s designed to cater to the needs of both investors and fund managers. The platform provides a wide range of tools to help you manage the entire onboarding process, from initial contact to final approval. This includes key tools and features such as digital signature tools, automated compliance checks, and a customizable investor portal.

But Tocan is best known for its advanced advanced analytics and reporting capabilities. These tools provide valuable insights that firms can use to continually improve their onboarding workflows.

Features:

• End-to-end onboarding management
• Advanced analytics and reporting
• Customizable forms and workflows
• Secure data storage
• Integration with CRM systems

Best for: Investment firms seeking a comprehensive investor onboarding solution with an emphasis on data analytics.

9. Navable

Navable is an investor onboarding platform that focuses on providing a highly customizable and user-friendly experience. The platform offers a wide range of features designed to streamline the onboarding process, including document management, e-signatures, and compliance checks.

By combining a high degree of flexibility and plenty of customization options with a platform that’s intuitive and easy to use, Navable serves as a viable choice for firms that want a solution for firms that want to create customized onboarding workflows in a way that’s quick and simple.

Features:

• Customizable onboarding workflows
• Document management and e-signatures
• Compliance and AML/KYC checks
• User-friendly interface

Best for: Small to mid-size investment firms that need a flexible and easy-to-use platform for investor onboarding.

10. Fundwave

Fundwave is a robust investor onboarding solution that lets you digitize and automate your onboarding processes. The platform offers a comprehensive suite of tools, including a customizable investor portal, secure data rooms for sharing important documents, and digital signatures.

Like Tocan, Fundwave is another platform that’s well-renowned for its data analytics capabilities. By providing automated insights into how investors interact with onboarding workflows, Fundwave helps firms identify key opportunities for optimization. 

Data security is another strong point of Fundwave. By leveraging end-to-end encryption and robust authentication measures, Fundwave ensures that all the data stored on the platform is kept secure.

Features:

• Automated onboarding workflows
• Powerful reporting and analytics
• Customizable forms and documents
• Secure data management

Best for: Venture capital firms, private equity funds, and other investment firms needing a platform that offers advanced data analytics and data security features.

Choose WealthBlock for a reliable investor onboarding experience

Offering a smooth and reliable onboarding experience is a key part of developing an effective capital-raising strategy and keeping investors satisfied with your firm. Thankfully, this is something the right investor onboarding solution can help you accomplish.

While there are several great platforms on the market, WealthBlock stands apart as a leading solution for creating streamlined and customized investor onboarding workflows. Thanks to features like a drag-and-drop workflow builder and automated compliance checks, WealthBlock makes onboarding new investors easier than any other platform available today.

See for yourself why WealthBlock is the perfect choice for automated investor onboarding: Schedule a demo today!

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