Some blue sky thinking around digital technology that will be available to us in the very near future!

Financial Advisory

21 April 2016

Financial Advisory

walk-to-lunch-780-x-520.jpg

The Findings, Winning Advisers, Tylney Hall, 13 October 2015

Funds Network        Fidelity    capgemini.jpg

Sponsor Introducing: Ian Hood, Fidelity World Wide Investment & FundsNetwork

Facilitated and written by: Rod Bryson, Cap Gemini 

Session 1:

Some blue sky thinking around digital technology that will be available to us in the very near future!

Headline finding 1:

Lots of different new technology is likely to be implemented in the market over the next ten years, some of which will have a greater or lesser impact depending on the nature of the advice business.

Headline finding 2:

Digital and technology impacts on the market are generally split into two ways:

a)     Marketing, communication, engagement and client acquisition;

b)    Efficiency of processes to reduce overall costs.

Headline finding 3:

The key is to improve business operational efficiency. This will make managing the overall business more effective, a factor which can then be used to leverage greater focus on the front end. If you can manage the mid-back end, then securing more clients at the front end is potentially easier.

Headline finding 4:

Thinking about technology / digital in a business doesn’t usually cost money; it is the time needed to create content and make this available online, for example through YouTube videos on wealth.

Headline finding 5:

Having digital / technology enabled solutions are important for some firms for two reasons:

a)     To reach out and access a younger group of customers

b)    To reduce the costs of advice for that group who are willing to engage with new technology.

However, this needs to be achieved not as a cost to existing customers and should not distract from the core face to face value proposition.

 


Top