Delivering a seamless investment journey

25 June 2019

Advisory DistributorsAutomationFinancial servicesOpen BankingTechnology


  1. No long slide deck handed out to go through slide by slide which worked well.
  2. Richard had a couple of headline thoughts which lead to discussions and lively debate
  3. There was a good mix of trading styles in the room which provided views from different perspective
  4. Willis Owen’s online service the clients average age is 61
  5. The use of technology is key
  6. There is now more automation of process
  7. Larger organisations need to be more prescriptive in their processes than smaller ones

Key challenges:

  • Advisers have to accept the changes they should not be fund pickers but focus on being financial planners
  • Prices being driven down for all aspects of advice
  • Justifying the value of the advice
  • Building and retaining the trust of the clients
  • How important will it be for advisers to consider the ethical questions when it comes to investments particularly with growing trends of awareness

Conclusions and solutions:

  • Richard’s points led to a lively discussion and I made sure everyone was able to express their views, which was quite a challenge considering some of the big characters present. The only exception was the new CEO of Tenet who I did not prompt for a response as I understand he is new to the industry.
  • The key was using technology whilst providing high service levels. Client portals are useful for capturing some of the fact find information and for keeping clients up to date.
  • Trust can be built up and value demonstrated more effectively by face to face interaction with clients, but technology and automation should be used for smoother processes.

  • Open Banking remains an untapped resource for advisers despite the benefits


Expert: Richard Bradley, Platforum