Law firm success checklist: Digital vaults and wills

When it comes to private client work, delivering a superior service is everything. Clients want their lawyers to be responsive, proactive, and operate efficiently and cost-effectively. Today, achieving all this relies as much on deploying technology as it does on human expertise. Clients increasingly expect digitized services to be part of the package. 

That’s why the concept of “digital vaults” is starting to gain traction. A digital vault is a secure hub for all an individual’s or family’s financial affairs, used to store their wills, deeds, and other important files and information. A digital vault can be a critical competitive differentiator and help increase client retention. 

This kind of digital inheritance tool can also impress the next generation of clients coming up the ranks as the “Great Wealth Transfer” gets underway. So much so that, when the time comes, they may be more likely to stick with your firm rather than take the business elsewhere. 

Our checklist will help you assess if digital vaults could give your firm the edge and what issues you may need to think about when implementing by answering these questions:

• How do we improve the customer experience? 
• Why give clients more insight and control over their affairs? 
• How do we maximize client retention as wealth is transferred? 
• Where do we ramp up efficiency in our processes? 
• How do we unlock cross-selling opportunities?