Secure client document portal for a wealth management firm in Dublin: cost

The verdict in three sentences

A wealth management firm still sending statements and suitability reports by unencrypted email carries a regulatory and commercial risk that a secure client portal removes at modest cost. For 900 clients, an off-the-shelf portal costs 40 to 90 EUR per user per month, while a custom portal sits within Kolonell's application grid, from 3,810 to 22,870+ EUR (2,500,000 to 15,000,000+ FCFA) depending on complexity, and remains your property. The measured back-office saving, 6 to 10 hours a week, pays back the project in under two years in most scenarios.

The problem: 900 clients, attachments and no audit trail

Ciarán is a partner in a Dublin wealth management firm: 3 advisers, 2 administrators, 900 client households, about 200 million euros under advice. Every quarter, the team sends valuation statements, suitability reports, terms of business and contract notes. Everything goes out as attachments from individual mailboxes.

Three problems follow. First, security: documents showing assets, income and policy numbers travel without end-to-end encryption, while the Data Protection Commission treats misdirected emails as one of the most common breach types. Second, evidence: during a Central Bank of Ireland review or a complaint, the firm struggles to prove that a regulatory document was delivered on a given date. Third, wasted time: clients keep asking for documents already sent, and supporting papers (tax returns, proof of address) arrive through three different channels.

Off-the-shelf software or a custom portal

Specialist vendors offer client portals bundled with their practice management tools, typically billed at 40 to 90 EUR per internal user per month as a 2026 ballpark, sometimes with a fee per active client. The upside is speed: a few weeks of set-up. The limit shows when the firm wants its own journey (e-signature, fact-find questionnaire, guided upload) or switches practice software: the portal leaves with the vendor.

A custom portal is built around your documents and your client journey. It can connect to your practice software by export or API, and you own it.

Security requirements to write into the brief

A wealth firm portal handles financial and sometimes tax data. GDPR requires proportionate measures, and anti-money laundering rules require keeping client due diligence records for at least 5 years after the relationship ends. The minimum requirements are: two-factor authentication by app or SMS, encryption of files at rest, a time-stamped access log (who viewed which document, when), expiring download links, daily encrypted backups, hosting in an EU data centre (Ireland or Frankfurt), and a revocation procedure when a client leaves the firm.

Plan the administrator's journey too: uploading a batch of 900 quarterly statements in one go, with automatic matching by client reference, is what saves the most time.

Mini case study

Ciarán measures the time his two administrators spend sending, resending and chasing documents: about 8 hours a week. The loaded hourly cost of an administrator is 34 EUR.

• Time saved: 8 hours × 46 weeks × 34 EUR = 12,512 EUR per year, as a ballpark.
• Chosen option: mid-range portal, at most 10,670 EUR, plus maintenance at 114 EUR a month, i.e. 1,368 EUR a year.
• Comparison with off-the-shelf software at 65 EUR per user per month for 5 users: 3,900 EUR a year, or 11,700 EUR over 3 years, with no ownership of the code.

Over 3 years, the custom portal costs about 14,774 EUR (10,670 + 3 × 1,368) against 11,700 EUR in licences, but it frees more than 37,000 EUR of administrator time and stays in place if the firm changes practice software. Ciarán adds a sales argument: the client portal now features in his pitch to new prospects.

FAQ

Will two-factor authentication put off older clients?

SMS codes are accepted by the vast majority of clients over 70, and an email code option can be enabled case by case. In firms that have deployed portals, activation commonly reaches 70 to 85% within 6 months.

Do we need specially certified hosting?

No specific certification is mandated, but an ISO 27001 certified EU host makes regulatory reviews and partner due diligence questionnaires easier. The extra cost over standard hosting is in the tens of euros per month.

Can the portal connect to our practice management software?

Yes, through file exports in the mid-range version, or through an API in the complex version if the vendor offers one. An API connection usually adds 3 to 5 weeks to the project.

How long does it take to roll out to 900 clients?

Allow 2 to 3 months after launch: invitations in waves of 150 to 200 households, phone support for early users, then switching quarterly mailings to the portal.

Can clients sign documents in the portal?

Yes, by integrating a market e-signature service, usually billed at 1 to 3 EUR per signature. This feature belongs to the complex version.

Let's scope your project. We map the client journey, security requirements and the link to your practice software with you, along with a wave-by-wave rollout plan. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.