How becoming a digital advisory business can enhance your client experience and deepen your relationship with them as well as support productivity

Financial Advisory

15 October 2019

A Meeting of Minds Winning AdvisersClient ExperienceDigitalFinancial AdvisoryMeeting of MindsWinning AdvisersWinning Advisers

Robo and Digital are very different things.


Robo and Digital are very different things. The pressures for becoming digital are:

  • Regulatory
  • Operational efficiency
  • Investors are on a journey from Advised to Advised/Robo to Robo
  • Onboarding of clients needs to become digital
  • Make sure your technology suits the service your clients want
  • The Robo models that have succeeded have done so by converting existing customers and not in attracting new customers
  • The hybrid models of Robo have been successful and therefore IFAs are ideally positioned should they introduce a digital solution to complement their existing business
  • Parts of the advice process lend themselves to being automated
  • There is no truly digitalised solution in the UK yet
  • A digital experience needs to offer more than just a product
  • It is recognised that there would be a lower cost to providing a digital solution
  • Behaviours are changing


  • When should you make the investment to incorporate more digital into the business?
  • Cost of implementation
  • Pain of switching technology, particularly back office systems
  • Trusting that the technology will be relevant in the future
  • How to deliver two types of service
  • The definition of a ‘Digital Solution’ and of ‘Advice’ is not consistent


  • If you don’t make a decision to become more digital now, you will get further and further behind the service offered by your peers
  • Look towards modern technology that has good integrations and can support your business in a post RDR world now and in the future
  • Implement technology that can be bespoke to your business
  • Don’t underestimate the importance of DATA and the power of having one truth
  • Digitalisation should be encouraged, it will create efficiencies to improve profits, but also it will enable employees to do the tasks that they enjoy and really make a difference
  • Businesses should be indifferent to their advice offering as long as price and services are appropriately aligned
  • Consideration should be given to providing a digital solution to compliment Advice. Care should be given to how this is introduced to clients
  • We may see the larger providers of Digital Solutions providing white labelled versions to help strategic partners

Expert: Paul Morley – Intelliflo

Facilitator: Paul Miles – Silverback Consultancy