The Best Document Creation System for a Wealth Management Business

  Taylor Pettis    March 25th, 2020    Leave a Comment

Wealth Management Document Creation System

What is Document Creation Software? | Why Use a Document Creation System | Document Creation Software Features

Today, there are countless individuals in the wealth management industry. If you’re among them, you know how many documents you handle on a daily basis.

To prevent those documents from slowing you down, you need to have a document creation system in place. There are several essential benefits you gain from having one, but you also need to have the right software program.

Keep reading to learn more about why you need a document creation system and what features you should look for when choosing a software program for you.


Before we get into the benefits, let’s quickly look at what document creation software is. Essentially, it’s a software program that can be set up to automatically create documents for you.

You can set up templates for things like forms that you use often or have it set up to generate monthly reports based on the information you need it to use for each of these reports.

With the right document generation software, you can go even further and create information packets and other print materials with the touch of a button.


Here are some of the advantages you gain when you start using a document creation system as part of your wealth management business.


If you have to manually create a new document every time you need one, that can take a lot of time out of your day. Running reports and creating specialized documents based on existing data can also be a time-consuming process.

However, when you have templates in place, you can quickly create whatever document you need. And, when you set up a system to automate common reports, you can save yourself a ton of money.

Read about Electronic Document Distribution Systems


In the wealth management industry, failure to comply can cause legal issues for you as an individual or your company.

One of the ways to keep everyone compliant is by having compliance built into your documents as soon as they’re created. The easiest way to do that is by having a system in place through a software program that helps keep you compliant.


One overhead cost that may seem avoidable in an office setting is paper. However, the truth is that many offices are now working on going paperless through document creation software programs.

You can do the same for yours to lower your costs.


Without a sophisticated software program in place, anybody with access to your computer systems can often get into any document. Or, if your documentation is on paper, they only need to gain access to your records storage area.

To protect your business from internal and external threats, you need a document creation system that limits access to each document to only those who need access, helping keep your information secure.

Find out How Automatic Document Creation Makes Work Easier


Understanding the importance of having document assembly software is only the first step. From there, you have to start looking into your options and select the program that works best for you and your business.

Although every business will have different needs, there are some features that you should look for in a software program that will help you get the most out of your document creation system.

Let’s take a closer look at some of the features you need.


If you can’t find the document template you need because it’s stored in a different location than the rest of your company’s assets, you won’t save yourself any time. That’s why it’s essential to get a program that keeps everything in one place.

This goes for things like logos and other graphics as well. When these frequently-used images are all in one place, they can quickly and easily be added to new documents as needed.

Find out more about Version Control Systems


Sometimes you need to send out a single document to one client and other times you need to send a packet of information to all of your clients. Document assembly is a key part of automation. For that reason, you need to make sure you’re getting a document creation software that is flexible.

You also need to get a program that offers you various delivery options. With the right program, you can send a document to a print queue, to be made into a PDF, or whatever else you may need.


You know that weekly report you just hate running at the end of every week? What if you could automatically create it and have it show up in your email box instead? With automated document creation, that’s exactly what you can do.

Once you integrate your document creation software with other programs, you can create reports with information from as many sources as you want. Although you can certainly run these reports as needed, you can also set it up to run automatically as often as you like.


To maintain your goal of having a paperless office and to get accurate information from clients quickly, you’ll want to use fillable forms. Most often, these are in PDF format but can be nearly anything.

This feature can also help you generate personalized letters with minimal effort which can improve client relationships. You can accomplish this in part by integrating with other applications that collect information from potential clients.


You want to get a software program that grows with your company. Otherwise, you may soon find that what once worked well is no longer enough for your expanding business.

This also goes for how often you use the program throughout the year. While you may only need to use it for a handful of documents for most of the year, what happens during tax time when things get busy?


Now you know why you should look for in a document creation system for your wealth management business. As you can see, there are numerous benefits to having one in place and several things to look for in a software program.

MHC is proud to offer you all of the aforementioned features and more. To jump right in and see how much our software program can do for you, sign up for a free trial.


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