Financial Advisory

29 April 2021

AdviceClientContentcostDigitalDigital platformFinancial AdvisoryTechnologyWinning Advisers

Client experience Vs cost reduction Vs revenue growth - A battle for budget

Expert: Keith Hare, Group Development Director, Benchmark Capital
Facilitator: Paul Miles, Founder, Silverback Consultancy

Key Takeaways:

We must adapt to new and existing client expectations

  • Ask client what service they require
  • Personalise advice both FSF and digitally
  • Offer real-time support
  • Operate across multiple channels
  • Provide a ‘Hybrid’ version of what you were doing pre-March 2020
  • Increased willingness of clients to receive automated advice
  • Not just younger generations prefer online
  • Client portals playing a much bigger part of client engagement, but there can be confusion about which portal to use
  • Working from home can provide better productivity but collaboration and creativity is worse
  • Increased new business from existing clients due to pandemic and improved client engagement
  • Reduced overheads are significant
  • Reviewing product suppliers/solutions

Key challenges:

  • When should you make the investment to incorporate more digital into the business
  • Cost of implementation
  • Pain of switching technology
  • What tech to choose
  • Integration of tech
  • Choice of client portals
  • Staff collaboration and creativity with staff working from home
  • How to deliver different types of service


  • Listen to what your clients want and provide a suitable service
  • Evaluate your existing tech partners to make sure they have the right product and skills to support your business now and in the future
  • Don’t underestimate the importance of accurate and clean DATA
  • If you don’t make a decision to become more digital now, you will get left further and further behind the service offered by your peers
  • Implement technology that can be bespoke to your business
  • To action now.