Client onboarding checklist for financial advisors: 10 steps to success (+ free template)

Onboarding a new client is one of the most critical steps in your relationship with them.

As a financial advisor, your role is to help clients navigate their financial journey, but before you can start giving advice and making recommendations, you need to first understand their needs, goals, and preferences.

This is where an effective client onboarding process comes into play.

In 2026, streamlining your client onboarding is more important than ever. A well-structured onboarding process sets clear expectations, helps establish trust, and ensures a smooth start to the advisory relationship.

With the right approach, you can avoid miscommunication, scope creep, and missed opportunities for building long-term relationships with your clients.

In this article, we’ll guide you through the ideal 10-step client onboarding checklist for financial advisors. We’ll break down each step and show you how to set yourself up for success with every new client you onboard. Plus, we'll share a free template that you can use to streamline your onboarding process and improve your efficiency. Let’s dive in!

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Key takeaways

A financial advisor client onboarding checklist ensures that you gather all the essential information upfront to build a strong relationship and provide tailored advice.

Core components include setting clear expectations, gathering client information, defining the scope of services, and establishing communication channels.

A well-defined onboarding process helps prevent misunderstandings and builds trust from the outset.

Moxo, a client onboarding automation platform, can help you manage client data, track tasks, and keep everything organized throughout the onboarding process.

Step-by-step financial advisor client onboarding checklist

Having a structured client onboarding checklist ensures that your process is smooth, efficient, and effective.

By clearly outlining each step, you can provide a more personalized experience, set expectations early, and avoid any potential hiccups down the line.

To help you overcome the hassles, we have curated this step-by-step client onboarding checklist for financial advisors.

Step 1: Gather client information

The first step in the onboarding process is to collect all the necessary client information.

This will form the foundation of your relationship with the client, and understanding their financial situation is crucial to giving them the best possible advice.

Start by asking for basic personal details like:

• Full name
  
• Contact information (phone number, email address)
  
• Date of birth
  
• Marital status
  
• Dependents or beneficiaries
  

Then, move on to more detailed financial information, including:

• Income sources and amounts
  
• Employment details
  
• Debts and liabilities (mortgages, loans, credit card balances)
  
• Assets (real estate, investments, savings, etc.)
  
• Retirement savings and pensions
  
• Insurance coverage (life, health, disability, etc.)
  

It’s also important to understand the client's risk tolerance, their current financial goals, and any immediate concerns they have.

Are they saving for retirement, buying a home, or planning for a child's education? The more you know about their priorities, the better you can tailor your advice to meet their needs.

Moxo’s automation platform helps you collect this data efficiently, turning manual processes into streamlined workflows.

Through its secure and user-friendly platform, you can request and store client information digitally, making it easy to track and access at any time.

A G2 reviewer using Moxo’s services says:

“I like how simple it is to create tasks and assign them to people. The communication is apparent and easy to use.”

Step 2: Define the scope of services

Once you have a thorough understanding of your client’s financial situation, the next step is to clearly define the scope of services you’ll provide.

Whether the client needs a one-time consultation or ongoing financial planning, it’s important to set clear boundaries so both parties know what to expect.

Some questions to consider when defining the scope of services include:

• Will you be providing a comprehensive financial plan or just specific advice on a particular topic (e.g., retirement planning, tax strategies, etc.)?
  
• Are you responsible for ongoing management of investments, or is the client only seeking advice on how to manage them themselves?
  
• Will you be providing estate planning, insurance, or debt management services?

Be clear on what’s included in your services, and equally important, what isn’t. This helps avoid scope creep and ensures that there are no misunderstandings later on.

Having these details in writing not only provides clarity for the client but also helps protect your professional reputation and ensures your compensation aligns with the services you provide.

Moxo’s platform allows you to document and share the agreed-upon scope of work with your clients.

This creates transparency and helps both of you stay aligned on expectations.

Step 3: Set expectations and timelines

Setting clear expectations around service delivery and timelines is essential for building trust and ensuring a smooth collaboration.

At this stage, you should define when the client can expect to see results and how often you will communicate with them.

Some points to consider when setting expectations and timelines include:

• How often will you meet or check in with the client? Will you have regular monthly meetings, or will communication be less frequent?
  
• What should the client expect in terms of response times? Will you reply to emails within 24 hours or provide more immediate support via phone or video calls?
  
• When will you deliver the financial plan or any other key deliverables? Make sure to specify milestones, so both you and the client are on the same page about what needs to be done and when.
  
• Are there any review periods or opportunities for feedback during the process?

Setting realistic timelines ensures that the client understands the duration of the process, and setting clear expectations helps avoid misunderstandings that could cause delays or frustration later.

You can also track and manage deadlines effectively, with built-in reminders and task management features from Moxo to ensure nothing slips through the cracks.

Step 4: Review the agreement and pricing structure

At this stage, it’s time to discuss the financial aspects of your work.

The client needs to understand the pricing structure and how you charge for your services, whether it’s a flat fee, hourly rate, or commission-based.

Be sure to review the following details with the client:

• How will you be paid (fixed rate, hourly, commission, etc.)?
  
• What are the payment terms (upfront, milestone-based, or upon completion)?
  
• Are there any additional fees or potential unforeseen costs that the client should be aware of?

Once both parties agree on the pricing and payment schedule, make sure the terms are documented in a formal service agreement. This contract should also outline your scope of work, timelines, and any other key details to prevent misunderstandings later.

Moxo simplifies the contract signing process by providing a secure platform where agreements can be signed digitally.

Several clients have already worked with these documents, and one has also shared this experience on G2:

“User-friendly and secure communication tool! Efficient and professional experience with Moxo. Streamlined workflows and great support. Reliable solution for managing client interactions.”

Step 5: Collect necessary assets

In order to carry out your services efficiently, you’ll need access to certain documents and assets. These could include:

• Tax returns and financial statements
  
• Investment portfolios and account details
  
• Retirement savings plans or pension details
  
• Life insurance policies
  
• Any other relevant legal or financial documents

You can easily request, collect, and store these assets securely with Moxo’s active assistance.

By automating this step, you can ensure that you have all the necessary materials in one place without unnecessary back-and-forth.

Step 6: Set up communication channels

Effective communication is key to a successful advisor-client relationship. It’s important to discuss and agree on the best communication methods before you start working together.

Consider:

• What communication platforms will you use (email, phone, video conferencing, etc.)?
  
• How often will you communicate (weekly, monthly, or as needed)?
  
• What is the preferred method for sending documents and receiving feedback (e.g., email attachments, secure file sharing, etc.)?

Establishing these guidelines up front helps avoid confusion later on and ensures that both you and the client are on the same page about how you’ll communicate throughout the process.

Moxo provides secure and reliable communication tools that ensure everything stays organized.

You and your client can stay in touch easily, and Moxo keeps all communications in one place, making it easy to track discussions and updates.

Step 7: Introduce team members

• If your advisory practice involves a team (e.g., other financial planners, tax professionals, or customer service support), it’s important to introduce your team to the client early on.
• This builds transparency and helps your client feel more comfortable with the people they’ll be working with.
• Clearly define the roles and responsibilities of each team member, so the client knows who to contact for specific needs.

Whether it’s for investment advice, estate planning, or tax questions, introducing the team ensures that everyone knows their point of contact.

You can streamline team collaboration by allowing team members to manage tasks, track client interactions, and update clients on progress through Moxo’s workflows.

Step 8: Track tasks and progress updates

Once the onboarding process is complete, it’s essential to keep the project moving forward.

• Use a project management system to track the progress of tasks, set milestones, and keep the client informed about the status of their financial plan or other deliverables.
• Ensure that you’re regularly updating the client on the work completed and providing feedback or additional information as necessary.

Moxo’s task management features allow you to track the progress of each step in the process and ensure that milestones are met on time.

With automated reminders and progress reports, you can keep both you and your client on track.

Step 9: Follow up post-onboarding

Once the initial onboarding process is complete, it’s essential to follow up with the client. This shows that you care about their experience and ensures that you’re addressing any concerns they may have.

• Ask the client for feedback on the onboarding process and if there’s anything that could have been done differently.
• This helps you improve your future onboarding processes and provides valuable insights into client satisfaction.

Moxo helps automate follow-up reminders, making it easy to stay on top of client satisfaction and ensure that any issues are addressed quickly.

Step 10: Continuous communication and support

• Once the onboarding is complete, the relationship with your client should continue to evolve.
• Regular communication, whether it’s quarterly reviews, updates on investment performance, or providing advice as their financial goals change, is key to maintaining a strong and long-term client relationship.

Moxo helps you stay organized and ensure that all future interactions with the client are logged and accessible for ongoing service delivery.

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Common mistakes to avoid in financial advisor-client onboarding

Incomplete client information: Failing to collect all details upfront can cause delays down the road. Make sure you gather all financial goals, deadlines, and preferred communication methods from the start.

Unclear scope of work: If the scope of work is vague, it leads to misunderstandings. Be specific about the financial services you will provide and clearly set boundaries on what is included in the project.

Neglecting post-onboarding follow-up: After onboarding financial clients, always check in with them to ensure that they are satisfied and to address any lingering concerns. Regular post-onboarding communication also helps build a stronger working relationship.

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Streamline your onboarding with Moxo

You now have a solid 10-step framework for financial advisor onboarding. But if you're still managing it across spreadsheets, email, and scattered documents, you're fighting against the system rather than working with it. The checklist alone won't save the hours your team spends chasing down signatures, re-entering information, or manually updating client status.

This is where a dedicated platform makes all the difference. Rather than treating onboarding as a manual process you'll optimize later, smart advisors integrate it into their operational backbone from day one.

How Moxo helps

Moxo is a client onboarding platform built specifically for service businesses like yours. It takes the 10-step checklist we've outlined and automates the administrative busywork, letting your team focus on strategy and relationship-building instead. Here's what users consistently report:

Client adoption: When clients log in via a secure Magic Link (no password to remember), they immediately see the next step they need to take. No confusion. No chasing. According to users, adoption rates jump to 95%+ because the barrier to entry is near zero.

Time savings: Onboarding that once took weeks compresses to days. Moxo users report a 50-70% reduction in average onboarding time, which means you bill clients faster, scale without hiring, and free up your team for higher-value work.

Compliance built in: Every action, signature, and document upload is logged with timestamps and full audit trails. When regulators ask, "Who approved this and when?"—you have a complete answer. This is especially critical for wealth managers handling sensitive financial data.

Automation without coding: You don't need to hire a developer. Use Moxo's visual workflow builder to map your exact 10-step process, then publish it live. When a client uploads a document, you can set up an AI Review Agent to validate it instantly, flagging incomplete submissions before they create delays.

Real user experience: A director of operations at Mass Inbound shared that "before Moxo, project updates and client communication were scattered across emails and multiple tools. Now everything is centralized. Their support team is genuinely helpful whenever we've had questions.

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Make the shift from manual to orchestrated

The optional path forward: You can absolutely use this checklist manually. Many advisors do. But the gap between "having a process" and "having an automated process" is where the real efficiency gain happens.

The advisors who onboard clients fastest aren't working harder. They're working smarter. Their onboarding runs itself. Clients self-serve through intuitive workflows. Signatures and documents arrive complete. Tasks route automatically to the right team member. Bottlenecks get flagged before they become problems.

If your team is ready to turn this 10-step checklist into an automated workflow that scales with your practice, Moxo is designed exactly for this. Get started today and see how much time and complexity you can eliminate from your onboarding process.

Get started with Moxo or explore the free template to implement this checklist immediately.

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FAQs

What are the 7 steps of the client onboarding process?

The 7 steps typically include:

• Gathering client information
• Defining the scope of work
• Setting expectations and timelines
• Reviewing the service agreement and pricing
• Setting up communication channels
• Assigning roles and responsibilities
• Post-onboarding follow-up

What is the 80/20 rule for financial advisors?

The 80/20 rule suggests that 80% of your revenue comes from 20% of your clients. Financial advisors can use this principle to focus on high-value clients, providing personalized attention to build stronger, more profitable relationships.

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How to build a client base as a financial advisor?

Building a client base involves networking, referrals, offering educational content, utilizing social media, and showcasing expertise through seminars or webinars. Building trust and offering tailored services also helps attract clients.

What is the client onboarding process in financial services?

In financial services, onboarding includes gathering personal and financial data, understanding the client’s goals, defining the services offered, setting expectations, signing agreements, and establishing communication methods to ensure a smooth relationship.

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