Financial Advisory

John Hall

Advisory DistributorscomplianceFinancial AdvisoryMIFIDIIproductivity


  • Compliance Nightmare. How to create MiFID II compliant ex-ante and ex-post illustrations and reports.
  • Building business processes and efficiency in a post MiFID II world.
  • The need and demand for advice is growing, but how can we service the masses and more clients when the cost of servicing is also increasing.
  • Has MiFID II influenced how business owners structure their business – more admin resources, greater use of technology or both?
  • Is technology playing a more significant roles in keeping clients updated and engaged?
  • How has MiFID II impacted the way advisers work with new and existing clients?


Points discussed and debated

  • MiFID II is driving change in business processes – key disruption as more time being spent on reviews and report production.
  • No single data source or solution available in the market – integration strategy is at the centre of what good looks like.
  • Integrations are not always as robust and detailed as we are led to believe by system providers.
  • Platforms are slow to integrate and or provide data for reports to be developed in-house.
  • System providers slow to deliver integrated solutions – client demand determining development roadmap.
  • Increasing number of firms building their own solution in-house.
  • More administration involved in servicing clients – technology is helping but not enough time to serve all clients.
  • Productivity levels are increasing but profit margins are tight – fixed overheads including additional staff are biting.
  • PROD rules are also impacting amount of administration on serving clients.
  • Metrics now starting to show value vs. cost of implementation and delivery.
  • Future business values being impacted by poor data quality and reporting capability.


Learning and Actions 

  • Review existing processes and solutions – where are the value points and costs.
  • Post MIFID II remains a strategic initiative – MIFID III may still be on the horizon!
  • Identify areas where technology can deliver efficiencies in process – gift of time!
  • Mapping the processes to make marginal differences – benchmark quantity and quality.
  • Engage with systems suppliers and providers to improve integration services – prioritise two-way integration strategy.
  • Conduct data audit – quality of data will drive quality of reporting and outputs
  • Investigate use of RPA technology to replace repeatable process


Expert: Eric Armstrong, Synaptic Software

Facilitator: Dave Edwards, Esperto Business Solutions