Clients are experiencing innovation in almost every interaction they have in the marketplace. How they shop, transact, engage and socialise online are all indicators that the financial advice process must evolve. Clients are now demanding quicker, faster, better service, in addition to greater personalisation, customisation, and individualised dealings.
We’ve seen consumer adoption of “life-apps” and smartphone technology on a vast j-curve, whilst the financial advice industry has remained on a straight axis.
The gap between how consumers interact and transact via technology and how the advice industry delivers planning via paper is what needs to be accelerated.
Financial Advice now requires an integrated and optimal online, mobile and face-to-face experience.
The level of innovation required of financial advice delivery, systems, and processes is mainly dependent on the preferences of a business’s client base and prospects; however, some common themes are currently in demand for any interaction:
01 Online & mobile – on demand 24/7
02 Intuitive & easy
03 Central information & data
04 Privacy of information
05 Seamless communication & interaction
06 Best practice & quality
08 Quick turnaround
As demand increases and the use of tech tools becomes increasingly widespread, businesses need to ensure that they don’t get left behind by competition. If existing systems and processes are outdated or inefficient, it necessitates exploring software solutions to enhance client engagement and the advice process.