The future of advice lies in finding the right blend of technology and the personal touch: HUB24


Andrew Alcock

As the technology used in advice practices continues to mature to enhance bottom line results, the challenge for advisers is to find the blend that works best for their business and clients, according to a new whitepaper by CoreData and HUB24 entitled: The Modern face of advice.

While technological tools are reshaping the wealth management industry, the whitepaper explores the critical role of advisers and argues that the relationships they build with clients is more relevant today than ever.

The paper, which is based on interviews with advisers, states that in a quintessentially human-facing industry, technology can improve outcomes for both clients and financialadvice practices. But what it cannot do is engage in real conversations about client’s lives, their health, their family and, of course, their hopes and aspirations.

Greg Ginn, Principal of Bright Wealth who is featured in the paper notes: “One of the great things about meeting peo¬ple face to face is that you’re able to see the full communication with them and so you get a better understanding of where they’re at and what they like and don’t like. I don’t see how a computer can ever get that personal touch,” he says.

Along with the advantage of minimising clerical work, technology tools are also allowing advisers more time to develop the relationships that drive their businesses.

Simone Du Chesne of Equilibrium Wealth who also features in the paper highlights the ability of technology to provide information instantaneously whereas in the past a client had to wait 24 to 48 hours for a response. “From a financial adviser’s perspective, it really does free up time for the adviser to spend more quality time with their client, understanding what the client’s needs are and how they are feeling about their investments.”

Commenting on the whitepaper, HUB24 Managing Director Andrew Alcock said: “Modern tools and technology are playing a critical role in supporting to advisers to run efficient businesses. At HUB24, we understand that advisers want to invest more time in the areas of their business where the human element cannot be replaced – which is forging and maintaining client relationships.

“To us, it is clear that the future is about leveraging the best of both worlds to get the best outcomes for advisers and their clients,” he added.

The launch of the whitepaper coincides with the launch of HUB24’s #notjustanotherplatform campaign.

“HUB24 understands that the way advisers do business is as individual as they are. This campaign aims to highlight the uniqueness of each adviser’s business and how technology needs to support the way they want to work” said Mr Alcock.

The whitepaper is available on HUB24’s dedicated site launched this week called Not just another platform, which also features video interviews of some of the advisers who contributed to the paper.

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