October 7, 2021 Catherine Lygoe

Shaw and Partners Appoints LAB Group to Automate Digital Onboarding for its Clients and Financial Planners


7th October 2021

Sydney, Australia – Australia’s leading financial services KYC & onboarding platform provider, LAB Group, is pleased to announce that it has partnered with one of Australia’s preeminent investment and wealth management firms Shaw and Partners to enhance the organisation’s client onboarding experience. With a national presence and over $27 billion of assets under advice, Shaw and Partners is client focused and is continuously looking for ways to enhance its client and adviser experience.

Shaw and Partners has successfully deployed LAB Group’s white labelled client onboarding solution, LABform, empowering financial advisers and desk assistants to seamlessly originate domestic and international equity trading accounts for their clients. After the deployment went live, LAB Group has activated additional products to facilitate digital onboarding for clients to Shaw and Partners’ derivatives and portfolio service offerings, leveraging the platform’s multi-product electronic signing capabilities.

LAB Group’s platform has significantly streamlined the customer onboarding experience for Shaw and Partners clients, accelerating registration and enabling electronic identity verification for individuals, companies and Self-Managed Super Funds (SMSFs) across execution, general advice, sophisticated and professional investors.

Shaw and Partners advisers and their desk assistants can now minimise their administrative load and spend more time with clients by specifying brokerage schedules and other client preferences, such as reporting frequencies and methods of communication, using LAB Group’s white labelled client onboarding solution. LABform’s connectivity with a wide range of industry systems and service providers will then allow Shaw and Partners personnel to automatically establish a pre-filled digital account application for the seamless creation of the client’s cash settlement account with LAB Group’s integrated banks.

The new client onboarding solution also connects directly to Shaw and Partners’ clearing and settlement agent, FinClear. This allows FinClear to easily sequence new applications with the relevant cash settlement bank account number and add this to the clearing and settlement account record, facilitating instantaneous funding. For Shaw and Partners’ derivatives service offering, LAB Group’s product-centric platform can deliver similarly simple, fully integrated and rapid account generation.

Nick Boudrie, CEO, and co-founder of LAB Group said:

“We’re proud to be part of Shaw and Partners’ growth journey and grateful for the opportunity to support its adviser and client network. Shaw and Partners is effectively leveraging multiple aspects of the LAB Group offering, deriving maximum value for the benefit of its clients and advisers. LAB Group is excited to continue to develop this relationship as we deliver further integrations and innovations which will allow Shaw and Partners to continue to lead from the front.”

Earl Evans, Shaw and Partners Co-CEO, said:

“We are delighted to partner with LAB Group and adopt their market-leading technology. Integrating the LAB Application Manager and LABform with our existing platforms will empower our advisers and their teams to save significant manual labour on processing and will facilitate the origination and population of new client applications more efficiently than ever.”    

About LAB Group Services Pty Ltd

LAB Group provides streamlined digital customer acquisition, identity verification, and onboarding technology, including a complete suite of regulatory and compliance functions to the financial services industry globally.

LAB Group’s digital customer acquisition and onboarding Software-as-a-Service supports a seamless, secure, and compliant customer journey with continuous improvement through compliance monitoring, advanced analytics and implementations.

LAB’s technology continuously evolves to meet the constantly changing Know Your Customer and Compliance demands of regulators.

With both an open architecture and focus on partnership integrations, LAB Group connects and continues to integrate with an increasing number of common industry systems and service providers across Stockbroking, Investment, Wealth Management and many other areas of financial services. LABform powers financial service ecosystems to automate the end-to-end onboarding process enabling customer records to be created, verified and fully operational, fast and efficiently.

Partner with LAB Group to transform your customer onboarding process and accelerate your business growth: https://labgroup.com.au/

About Shaw and Partners:

Shaw and Partners is one of Australia’s pre-eminent investment and wealth management firms.

With a national presence and over $27 billion of assets under advice, Shaw and Partners offers the intimacy of a boutique investment firm, backed by the resources and scale of a major financial group, EFG International.

Shaw and Partners offers tailored advice and investment solutions, financial planning and corporate advisory services.  The firm acts for and on behalf of individuals, institutions, corporates and charities.

Shaw and Partners offers access to an extensive team of private client advisers, institutional sales and trading specialists, market leading research analysts and strategic corporate financiers.

For all media enquiries please contact Tim Dohrmann, NWR Communications

Phone:  +61 468 420 846

Email: tim@nwrcommunications.com.au


Subscribe to our Compliance Radar

We will bring you the latest trends in compliance, identity verification
and digital customer onboarding.