FinServe's Compliance-Focused Onboarding Transformation

The Challenge

FinServe was struggling with complex regulatory requirements that made onboarding new financial advisors a 6-8 week process. Documentation was frequently outdated, and compliance errors during onboarding had resulted in several costly penalties. The lengthy process was also causing them to lose top candidates to competitors.

Our Solution

FinServe implemented Chimpanion with a focus on compliance automation. They digitized their regulatory requirements, created role-specific compliance pathways, and used Chimpanion's verification features to ensure all steps were properly completed and documented.

Results

• Reduced onboarding time from 7 weeks to 3 weeks while improving compliance
• Eliminated compliance-related penalties entirely (saving $450,000 annually)
• Improved candidate acceptance rate by 35%
• Reduced administrative workload by 25 hours per new hire