Understanding Service Blueprinting for Wealth Management

Service blueprinting is a powerful tool for mapping out the entire wealth management service experience, showing both client-facing and behind-the-scenes activities. Here's a comprehensive guide to creating an effective service blueprint.

1. Identify Customer Actions

• Map out all steps clients take when interacting with wealth management services
• Key questions to ask:
  • How do clients first discover the wealth management service?
  • What channels do they use to schedule consultations?
  • How do they access their portfolio information?
  • What are their regular touchpoints with the service?

2. Document Frontstage Actions

• Focus on visible employee actions and client-facing interactions
• Key considerations:
  • How do investment counselors greet and onboard new clients?
  • What happens during portfolio review meetings?
  • How are investment recommendations presented?
  • What digital interfaces do clients interact with?

3. Map Backstage Actions

• Document invisible actions that support the service
• Areas to explore:
  • How do counselors prepare for client meetings?
  • What research and analysis happen behind the scenes?
  • How is client data processed and stored?
  • What compliance checks are performed?

4. Identify Support Processes

• Detail internal systems and processes
• Key elements:
  • What portfolio management systems are used?
  • How does the CRM system support client relationships?
  • What risk assessment tools are employed?
  • How are regulatory requirements managed?

5. Add Physical Evidence

• Document tangible elements clients interact with
• Examples:
  • Digital dashboard interfaces
  • Portfolio reports and documents
  • Meeting spaces and office environment
  • Mobile apps and web platforms

6. Analyze Pain Points and Opportunities

After mapping all components, analyze the service for:

• Potential failure points in the client journey