Without the right technology, some advisers will have no choice but to service less clients


Investment Trends report: 91% of advisers surveyed, nominated assistance with client servicing as greatest area of business need from technology

 Andrew Alcock from HUB24 believes in the future of platforms that have the technology to deliver the most efficient outcomes for advisers and their clients.

“Clients like the online access, and advisers want client servicing and onboarding to be more efficient. Advisers are increasingly getting help with this via improving platform technology.”

Without better technology in managing client information and transactions, advisers simply won’t be able to sustain the same volume of clients. Alternatively they will need to increase practice resources.  More compliance requirements equals more servicing.

“While we see many boutique style dealer groups who desire the smaller, higher value client base model, there may be advisers in these groups still using multiple platforms for legacy reasons, and this means less efficiency. Advisers will certainly be challenged about who and how they service to maintain and grow practice profitability.

These days newer platforms differentiate around investment choice, reporting, efficient administration and accessibility – the types of features which help advisers better service their clients. And if a platform has these features with the technology to keep costs down and provide value to consumers, everyone’s a winner.

“New features matter but they must fit the business aims of the adviser and also make their clients’ lives easier. We regularly seek to ensure there is balance between product refinements and overall practice utility,” said Mr Alcock.

You must be logged in to post or view comments.