5 Best Investor Onboarding & Subscription E-sign Software

Don’t Get Caught Trying To Raise Capital Without An Investor Onboarding Software‍

As the entire financial world goes digital, it’s no surprise that the private investment market is finally undergoing a digital transformation.

Conventional processes for onboarding investors for private investment are plagued with time-consuming, error-prone, and tedious manual activities such as 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 since they can’t cope with the volume and complexity of working with them. 

Even worse, given the numerous and demanding tasks for investors, investors are more likely to put them off or get distracted by other priorities, resulting in delays or even dropouts. Meanwhile, the capital raisers don’t even know what happened. 

The good news is that modern investor onboarding software solves all these issues and offers outstanding returns to your capital-raising efforts.

What Is Investor Onboarding & Subscription E-sign Software?

Investor onboarding software is a convenient way to onboard investors with a series of guided digital steps. Because all the supporting features are included to support the investor journey, you can create any onboarding paths as you see fit.

• Create a custom onboarding journey of various steps
• Create custom questionnaires to collect investor information
• Triage investors based on collected information 
• Run standard or custom compliance checks. For example:some textsome text
  • KYC
  • AML
  • KYB
  • Accreditation
  • Suitability
• E-sign pre-filled subscription documents
• Track onboarding progress and automatically follow up
• Process online payment or issue capital call   

When you are ready to onboard investors, simply email them secured links to start onboarding.

Investor onboarding software offers many benefits for private capital professionals:

• Access Untapped Capital Base: With increased automation to handle high volume and complex onboarding flows, you can access previously untapped capital bases such as wealth advisors, family offices, and high-net-worth and mass-affluent individuals.     
• Raise Capital Faster & Decrease Dropout Risk: By removing manual errors and friction, we have seen an average 98% reduction in investor dropouts and a 500% increase in processing speed.
• Cut Down Manual Overhead: By using automation, 95% of manual errors and 80% of manual overhead are eliminated. 
• All-in-one: To support various onboarding processes, onboarding software usually includes 5 - 7 tools, such as an E-signature Builder, Journey Builder, Form Builder, Compliance Checks, Progress Tracking, and Follow-up Automation.   
• Cost-Effective: Compared to cobbling different tools, onboarding software saves lots of money and time.
• Professional Look: A sleek and organized portal is often seen as a sign of the capital raisers’ credibility and professionalism. 
• Easy To Upgrade And Integrate: Investor Onboarding software can be used alone or along with other tools such as CRM, data room, and reporting via upgrade or integration.

Once you’ve decided that you want to capitalize on the benefits investor onboarding software offers, you’ll need to decide which software to use.

How To Choose the Best Onboarding Software For Your Needs? 

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

• What features do you need?

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 you just need a standalone platform with 2 - 4 features to handle one specific problem. Caveat: Be mindful that your immediate needs (e.g. launch a fund in 3 months) could differ from your long-term growth needs (e.g. penetrate 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.

• How much customizability do you need?

While low-cost vendors usually provide less customizability to save cost, you should consider paying a premium for software with high self-customizability in key areas such as onboarding flow creation, e-sign template creation, reporting, investment presentation, and marketing automation. For one, it’s much more costly to fit your workflow into software. Even if the vendor does free customization to fit your workflow initially, it’s likely your workflow will evolve and update over time, making it increasingly more difficult and expensive to update.

• Does the software support your use cases?

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 with multiple account types (e.g. individual, joint, trust) need the ability to quickly switch between accounts and view accounts separately as well as in aggregate; institutional investors need multiple users under one account with different privileges. 

• Is the software suitable for your budget?

The cost 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 & documents are, the more parties involved in collaboration, the more value you will realize from well-designed onboarding software. 

While several vendors provide Investor Onboarding Solutions, five stand out as either superior or suitable. We therefore ranked the top 5 in the order below, with WealthBlock standing out as the clear top provider based on features, functionality, flexibility, security, and affordability.

The Top 5 Software To Create Your Investor Onboarding Flow

An optimal onboarding experience is crucial for your capital-raising success. Not only are the error and dropout rates minimized, but you 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.

Here is the best software in the market you can choose today that will turbocharge your capital raising. 

WealthBlock

Overview

WealthBlock Inc. 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 management, from investment presentations and marketing to investor onboarding and reporting.

With built-in self-configuration, it also allows you to create custom workflows, dashboards, data rooms, digital forms, and profiles to accommodate your unique operational needs. 

As they built all the key components natively, the WealthBlock platform is more budget-friendly than other platforms.

Look For These 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. 
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Best For

WealthBlock is best for large-scale asset management firms, broker-dealers, and investment marketplace operators. Its admin features with different layers of customization make it ideal for organizations with large numbers of investors, complex workflows, and various subscription documents to process. WealthBlock’s all-in-one end-to-end solution makes it a must-have for operating a private investment marketplace. WealthBlock also ranked #1 in affordability compared to the rest of the market.

Anduin

Overview

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 1 - 2 weeks to set up. 

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

Look For These Features

• Tailored Onboarding
• Direct Commenting On Forms
• Investor Tracking
• Collect AML/KYC Document

Best For

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

+Subscribe

Overview

+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.

Look For These 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.

Flow Inc

Overview

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 5 - 7 days.

Look For These Features

• White Label
• Virtual Data Room
• Digital Subscription
• Investor Portal

Best For

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

Bite Stream

Overview

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.  

Look For These 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.