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The Ultimate Guide to Automated Document Generation for Wealth Management Firms

6 min read
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As a key partner in your wealth management firm, you contribute to managing and maintaining your organization's sensitive financial data. Client information, investment portfolios, and regulatory filings must be handled precisely and carefully. Ensuring these documents are accurate and easily accessible is not just a best practice; it's a legal requirement.  

You're also no stranger to wealth management firms' challenges regarding compliance documentation. We all know that generating documents manually can be a painstaking, error-prone process that leaves you feeling like you're swimming in a sea of paperwork.  

Imagine a world where automated document generation is so streamlined that your wealth management firm can tackle the challenges of compliance documentation head-on without breaking a sweat. With you leading the charge, you can bring about immediate revenue impact to your firm and be crowned company MVP.   

Get ready to win significant time back. Stop spending countless hours manually updating documents and triple-checking for errors. In this blog, we will dive into what document generation is and why having an automated document generation tool is important for wealth management firms. We will show you how to get time and energy back to focus on more strategic tasks – like enhancing your organization's overall productivity and improving your clients' experience. 

We invite you to dive into this Ultimate Guide to learn more about how you can revolutionize your document generation process. We'll explore the ins and outs of the power of document automation and provide best practices and tips for implementing it within your organization. 


What is Document Generation and How Can It Be Automated 

Document generation refers to the automated process of creating various types of documents, such as reports, invoices, contracts, and letters, using pre-defined templates and data inputs. Through specialized software or programming tools, users can generate large volumes of personalized documents with consistent formatting, content, and branding. This technology streamlines repetitive tasks, enhances efficiency, and reduces human errors, as the system pulls data from databases, spreadsheets, or other sources to populate the templates. 

Document generation can be automated through the use of specialized software or programming tools that leverage templates, data sources, and rules to create documents automatically. Here's how it can be achieved: 

  1. Templates: Create standardized document templates with fixed elements, such as logos, headers, and footers. These templates serve as the foundation for the generated documents. 
  1. Data Sources: Integrate data sources like databases, spreadsheets, or APIs to fetch relevant information required for each document. This could include customer names, addresses, product details, transaction amounts, etc. 
  1. Rules and Logic: Incorporate rules and logic within the document generation system to determine which data to include, formatting decisions, and conditional elements based on specific criteria. For example, certain clauses may be included in contracts based on the type of product or service being offered. 
  1. Dynamic Content: Enable the system to pull dynamic content from data sources, ensuring that each document is personalized and relevant to the recipient. 
  1. Automated Triggers: Set up triggers to initiate the document generation process automatically. For instance, when a customer completes a purchase, the system can automatically generate an invoice and email it to the customer. 
  1. Batch Processing: Perform batch processing to generate a large number of documents simultaneously. This is particularly useful when dealing with mass communications like marketing emails or customer notifications. 
  1. Review and Approval Workflow: Incorporate an automated review and approval process, where generated documents can be routed to appropriate personnel for review before finalization. 
  1. Integration with Existing Systems: Integrate the document generation system with existing software and applications to seamlessly incorporate it into existing workflows and processes. 


Why Automated Document Generation is Important for Wealth Management Firms 

Automated document generation offers several benefits, including cost savings, time savings, and improved compliance. According to a study by Nintex, companies that automate document generation can save up to 90% on time and costs. Additionally, automated document generation reduces the risk of errors and ensures that compliance requirements are met. There are five key areas where document generation can help solve business challenges for wealth management firms: 

  1. Compliance and Security: wealth management firms must navigate complicated regulations and compliance requirements while maintaining sensitive client data from security breaches.  
  1. Manual Processes and Inefficiencies: Manual document creation, approval, and execution processes can lead to wasted time, errors and off-brand, as well as be a resource drain across multiple functions – hindering productivity and creating revenue leaks. 
  1. Integration and Scalability: Outdated systems and siloed software/teams lack seamless integration and can impede document sharing, access, and updates. This also impacts a firm’s ability to scale effectively and handle growing clientele. 
  1. Client Experience and Mobility: Delays, errors, and off-brand messaging can have a huge impact on client satisfaction. In a digital era, the ability to access and collaborate on document remotely becomes crucial to a firm’s competitive edge.  


How Conga Composer Can Help Wealth Management Firms 

Conga Composer is a document generation tool that can be integrated with various platforms like Salesforce, your homegrown CRM or ERP, or embedded directly into your own website, portal, or application to automate the document creation process. With Conga Composer, you can generate documents such as contracts, proposals, and client reports in just a few clicks. Conga Composer also offers features and pairings such as data merging, document distribution, and e-signatures.  

Wealth management firms face specific challenges regarding compliance documentation, such as keeping up with changing regulations and maintaining accurate records. Conga Composer can help address these challenges by automating the document generation process and meeting compliance requirements. For example, Conga Composer can automatically generate reports that meet SEC and other government policies.  

Several wealth management firms have already implemented Conga Composer and have seen benefits such as increased efficiency and improved compliance. For example, one wealth management firm reduced the time it took to create client reports from 10 hours to just 10 minutes with Conga Composer. 

Best Practices for Implementing Automated Document Generation in Wealth Management Firms 

Getting started with automated document generation can be daunting, but with these best practices, you can ensure a successful implementation: 

  • Identify the documents that can be generated, such as contracts, proposals, and client reports. 
  • Design templates and workflows that meet your specific needs. 
  • Automate the process of generating documents you need in seconds. 
  • Ensure compliance with SEC and other government policies by consulting with legal experts. 
  • Train your staff on how to use Conga Composer effectively. 


Onboarding New Clients with Automated Document Generation 

Onboarding new clients can be a complex process that involves several documents, such as account opening forms and risk assessment questionnaires. Automating this process with Conga Composer can save time and reduce errors. According to a study by DocuSign, companies that use e-signatures and digital workflows for client onboarding see a 70% reduction in onboarding time. 

With Conga Composer, you can create templates for onboarding documents and merge data from Salesforce to generate customized documents for each client. You can also use Conga Sign, a seamless pairing of Conga Composer, to collect electronic signatures and ensure compliance. 


Ensuring Compliance with Automated Document Generation 

Compliance is a crucial aspect of document generation in the wealth management industry. Conga Composer can help ensure compliance by automatically generating documents that meet SEC and other government policies. Conga Composer can also help you keep track of document versions and ensure that documents are securely stored and distributed. 

According to a study by Aberdeen Group, companies that use automated document generation for compliance experience a 90% reduction in audit preparation time. Automating compliance documentation with Conga Composer can save time and reduce the risk of compliance issues. 



Automated document generation with Conga Composer can transform the operations of wealth management firms by saving time, reducing costs, and ensuring compliance. With Conga Composer, you can be crucial in implementing automated document generation in your organization. By following best practices and using Conga Composer effectively, you can streamline document creation, improve compliance, and provide a better experience for clients. 

If you want to learn more about Conga Composer and how it can help your wealth management firm, request a demo or start your free trial today. With Conga Composer, you can take the first step towards transforming your document generation process and improving your firm's operations. 

Not ready to talk with someone? That’s ok! Learn more about Conga Composer by visiting our Composer Product Page 

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