What is included in Investor onboarding

Onboarding is a term used to describe the documents and forms that are presented to an investor when they first use your platform. These are typically one screen per document or data capture form and can include: 

• Regulatory classification attestations

• Terms of Service

• Risk Warnings

• Any other document or form as required

The forms and documents can be presented to users in a logical order, and ensure that access is only granted where qualifying answers are given; the Delio platform can automate the validation of investor acceptance criteria and provide or reject access per investor. This is completely configurable and allows you to present any information to your users when they first log in. 

Onboarding can be harnessed to capture data from your investors which the system can store, and use, for other purposes such as: 

• Classifying the user to control the deals they see

• Building an Investor profile of information

The system is built to automatically request investors to provide this information every 12 months, allowing you to ensure your information remains up to date, and your compliance with regulations is retained. 

Should any investor fail to provide qualifying information during an onboarding process, they will not be able to gain access to the system; therefore using the process to ensure that your restrictions of visibility are automated.

The onboarding feature must be used, but can be configured to your specific needs - this will be discussed and implemented during your project phase. 

Asking an Investor to re-attest to their onboarding

If an investor has filled out the onboarding form incorrectly, or needs to update their details, you can initiate the process for the investor to redo onboarding: 

Click the hamburger icon (≡) to open the menu. The menu opens in a left-hand sidebar. 

Select Investors, listed under Manage.

Click into the name of the investor you would like to send through onboarding again.

Select the Manage tab at the top of the page.

Then, navigate to Compliance.

On the Approval status drop-down menu select Further information required, tick the box and click submit.

This will reinvite them to undergo onboarding again.

Investor classifications

Investor classification describes grouping investors, either through an automated logic-based system or manually. 

The logic-based system of grouping an investor depends on the answers they provide when completing onboarding. The investor is classified this way on the FCA classifications, the requirements can be found on the FCA website of each classification. 

The manual process does not automatically assign a classification to the investor. Investors are asked to agree to Terms and Services and once they complete onboarding an internal user manually assigns a classification to them, depending on their internal requirements. 

Useful links

Please find below a list of links from the FCA which explain further the classifications: 

1. Financial promotion exemptions for high-net-worth individuals and sophisticated investors 

2. COBS 4 Annex 

3. High Net Worth Individual and Sophisticated Investor definitions

4. Professional investor definition

Please click here to read about Retail Investor Onboarding