Managing with Martello
Martello Investments found themselves in a predicament. They were spending countless hours assisting clients with uploading simple yet sensitive information to their Martello portal. What should have been a fairly straight forward process had now become a time-consuming ordeal. With the hopes of freeing up their schedule and finding a solution to their problem, they hired our design team.
Martello Investments is a wealth management company that provides guidance on asset allocation and fund selection. Their overall mission is to help tailor each investor’s portfolio to their specific need.
Martello clients struggle with completing and uploading essential documents onto the user portal due to its poor usability and complex processes. Additionally, the portal is missing key features that clients need for direct access to their finances.
CLEAR & SIMPLE ONBOARDING PROCESS
EASY & TRANSPARENT ACCESS TO ALL ACCOUNTS
Client Kick-Off
A lengthy document uploading process, client uncertainty, constant follow-ups.
We started the project by asking the Martello team a few key questions about their current onboarding processes for clients. We learned that the document uploading process was lengthy and confusing, often taking up to 2 hours to complete. This confusion led clients to frequently reach out for support, resulting in lengthy phone calls that diverted the small Martello team away from the most important work. Naturally, the team had a few questions:
What types of documents do clients typically need to upload or access, and how frequently are these documents required?
How do clients currently receive guidance on which documents to upload and what information is needed?
Have there been any patterns or common issues identified when clients struggle with accessing or uploading documents?
What steps are currently being taken to help clients understand the documents they need to upload?
User Interview
Decoding financial jargon and frustrating save features on investor portals.
After talking with the Martello team, I led and conducted user interviews with 10 investors, some Martello clients, ranging from ages 28 to 66 with varying degrees of investing experience to see what worked and what didn’t work when they accessed financial portals.
Portals that simplify financial jargon and onboarding processes into layman’s terms are considered crucial.
Whether dealing with market fluctuations or simple document uploads, responsive advisors were seen as more trustworthy.
Implementing safety protocols like 2FA was crucial when accessing financial portals.
Users found uploading all the necessary documentation to be a slow and tedious task, and struggled to find the time to complete it.
There tends to be an absence of a save feature during document uploads. Many users were unable to complete the task in one sitting.
Users struggled with completing tasks due to insufficient online support.
User Survey
Investors rely on personalized guidance, access to educational resources, and step-by-step instructions when setting up an account.
We furthered our research by conducting a survey with 44 respondents to get quantitative data on what investors looked for when interacting with their financial advisors on a digital platform. The key takeaway was that investors want the security and assurance that comes with being personally guided by their advisor when opening an account.
“It’s not a simple process to just like open up an account with a company without it overpowering you. For instance — I once spent ninety minutes signing up for a company only for it to not save my progress, so I had to redo everything the next day.”
User Profile
We synthesized our research results to create Martello’s target user: The Aspiring Retiree. They are a 59-year-old marketing director who has been diligent in saving for retirement and is now looking forward to the next chapter of their life.
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Heuristic Evaluation
A perplexing hierarchy and an absence of consistent industry standards.
After defining our user, the team ran an analysis of the current Martello website in order to find areas of friction that clients would have met. It didn’t take long to realize that the form process and it’s key elements were all over the place.
Pop-ups with additional instructions and explanations, which are vague and instruct the client to reach out.
Progress bar is low on the page, confusing and conflicts with visual hierarchy.
Previous and next navigation at the bottom right hand side of the page are small and are the only way to navigate between the onboarding sections.
The side navigation bar is only visible when hovering over the area, making it hard for clients to understand where they are in the onboarding process.
Comparative Analysis
To get a better understanding of onboarding processes, we looked at all types of businesses that required input of information for desktop and mobile. We also reviewed the dashboard content from leading financial businesses in order to create hierarchy and prioriztize certain features which we perceived as industry standards.
Our team preferred the way TEAL designed their progress bar. It was easy to scan and created hierarchy at the top of the page. We also liked the idea of having clear indications of completed work with a check icon for clarity.
The Search & Help option from Turbo Tax was an essential feature that users expressed the need for, as well as the having a vertical navigation bar, which was a nice contrast rather to a horizontal one.
We loved the simplicity and creativity of the UI for each individual page from Badoo. These weren't pages filled with text fields but rather a creative take on ways to input information.
The performance summary & graphs, support options, and easy navigation for the Charles Schwab helped the team prioritize key features and industry standards for dashboard content and visuals.
Make tedious actions such as filling out forms, uploading documents, and other information exchanges painless for the client during the onboarding process?
Ease the flow of communication and information to optimize convenience for both the client and advisor?
Create an intuitive and user-friendly investment dashboard that make investors feel like they are working toward their goals?
Sketches
Sketching with a mobile-first mindset to prioritize the most essential features.
We began to sketch with a mobile-first mindset. The intention was to prioritize the most essential features that users expected when interacting with a wealth management portal. These preliminary drawings allowed us to explore design solutions while addressing both client needs.
Greyscale Wireframes
Like the sketches, the wireframes were also met with the same “only the essentials” mindset, eliminating as many obstacles and surprises as possible. The goal was for the onboarding process and portal experience to be easy and intuitive.
To reduce frustration, we organized the onboarding process into smaller categories, added timestamps, implemented a save option, and included two progress bars to enhance transparency.
To further decrease cognitive load, and increase completion rates, we decided to chunk together the form process. More progress bars with page indicators, along with information icons to guide the user.
A performance chart was essential for helping users see how their portfolio was performing.
An asset allocation chart would further enhance the user's understanding of how Martello strategically invests their funds.
An accounts page is provided to allow users to view the detailed performance of each individual investment vehicle.
Usability Testing
After creating the wireframes and prototype, the team carried out a usability test with our mobile prototype to identify any potential problems with the design decisions we made.
Navigation
Several participants had difficulty navigating back to their work on the previous page. They assumed that the arrow icon, circled in red, would direct them to the page they just completed, however, it actually redirected them to the home page.
All of this was confusing because, there was no dedicated function to return to the prior completed page. To address these issues, we added a last page button to facilitate easier navigation, and we changed the arrow icon to "Quit".
Before
After
Guidance & Support
Based on our research, the team added informational pop-ups, represented by an "i" icon, for requests that might potentially involve guidance. However, when tasked with finding additional information, 2/4 participants were unable to do so. To resolve this, the team developed a clearer and more accessible method for users to access document support.
Before
After
Unsaved Changes
Most participants moved on to the next page without saving their progress, unaware that their input would not be saved. To address this issue, we added a reminder screen that informs users they must save before they can proceed, making the "Next Page" button active only after saving. Additionally, if a user chooses to exit the page, a pop-up appears to ensure they save their progress before leaving.
Design System
Intuitive Onboarding
The onboarding platform is designed with clear and distinct visual cues to minimize confusion. By offering straightforward guidance, the process reduces the need for extensive advisor assistance and helping users complete forms more efficiently.
Progress & Saving Storage
Martello clients can now upload documents independently of their advisor, thanks to intuitive infographics that guide them through the process with ease. Need to pause and come back later? No problem—clients can save their progress and pick up right where they left off.
Transparent Dashboard
Our team created a user-friendly financial portal designed to give users a clear snapshot of their current portfolio, positions, and transaction history. With easy-to-understand visuals and simple language, it empowers users to make informed choices about their financial future with Martello.
Direct Access to Financial Advisors
With the aim of building a strong advisor-client relationship, the contact page allows immediate and direct access to Martello via phone, email, or virtual appointments to create support and convenience.
Next Steps
Incorporating advanced analytics and expanding customization options.
As we move forward with Martello, our focus will shift to refining both the mobile and PC experience based on user feedback to further elevate the user experience and support the company's growth objectives. Here’s what’s in the works:
Conduct usability testing with the PC prototype to identify user pain points, similar to the approach used for mobile testing.
Continue to collaborate with Martello's software engineer to develop the portal and provide support throughout the launch process.
Monitor key metrics to assess product success, such as the total number of clients onboarded, the number of clients who complete onboarding independently, and the ratio of clients seeking support with portfolio monitoring versus those who do not.
Create an advisor portal to access and view client information.
Takeaway
One of the most valuable lessons I gained from this project was the art of compromise with both stakeholders and team members. Throughout the design phase, there were numerous moments where everyone gravitated towards their preferred design choices, which definitely sparked some discussions and debate.
Rather than seeing these differences as obstacles, I learned to view them as chances to better our collective approach. By remaining flexible, I was able to understand the underlying reasons behind each perspective, which led to more well-rounded solutions.
Embracing diverse opinions not only improved our design outcomes but also strengthened collaboration within the team. This experience ultimately taught me that compromise doesn’t mean losing out on your vision—it means integrating multiple insights to achieve a more comprehensive and effective solution.