Advice Revolution reduces cost of advice and accelerates digital adoption by providing a free fact find


(L to R) Shaun Green and Adrian Patty

The Royal commission has doubled the cost of advice for many practices. Fact finding with clients is the most time consuming part of the advice process. Advice Revolution is offsetting this impact by reducing the time to deliver advice via its digital fact finding solutions. Adviser users of the platform are seeing an improvement in compliance, client experience and a reduction in time to provide new advice by up to 5.5 hours per client.

To help accelerate the benefits of digital adoption for advisers, Advice Revolution has recently released a free mini fact find, the first of its kind in the Australian Advice marketplace. This powerful tool removes the need to use PDF-based fact finds, DIY online survey tools, or expensive software…all for free. The impact of this is a better experience for clients and less time spent by advisers, leading to more profit, not to mention more productive meetings.

Founder Adrian Patty says “We want to help Advisers who have borne the brunt of ongoing regulatory change. The most effective way to counter the increased cost to serve is through digital fact finding. So far, only 25% have made this leap and we want to help take this to 100%. There’s so much opportunity ahead with technology and the first step is to go digital.”

Advice Revolution is founded by two former advisers who have both experienced the challenges of delivering advice with antiquated fact-finding solutions and inefficient processes. Other than their experience as financial advisers:

  • Adrian Patty is also a founder of XY Adviser, the largest community of financial advisers in Australia.
  • Shaun Green worked inside one of the largest licensees in Australia, partnering with advice practices to grow and improve their businesses.

Advice Revolution has recently formed partnerships with Centrepoint Alliance and other mid tier licensees to make the solution available to their advice networks. They also have a range of practices using their solutions, the benefits advisers are experiencing including:

  • Saving advisers up to 5.5 hours per new client
  • Making it easier to satisfy Best Interest Duty
  • Providing a more user-friendly and less time-consuming client experience
  • Unmatched integration capability with Xplan

Advice Revolution has raised funding from a number of industry participants, advisers and early users. They continue to raise funds and intend to complete a larger seed round in 12 months to provide market leading client engagement solutions to advisers.

The Advice Revolution team was further boosted in January 2021 with two additional appointments to their advisory board:

  • Hugh Bickerstaff is a Venture Partner at Vulpes Investment Management and was previously ex Chief Investment Officer at Investible.
  • Kate Holmes is a leader in the global advice community and a tireless advocate for innovative and impactful financial advice.  Kate thrives on being ‘on the pulse’ of technology innovation, is a member of the CFP Board’s Women’s Initiative (WIN) Council and the founder of ‘Innovating Advice’.

From Kate’s perspective “Advice Revolution delivers great adviser efficiency and the mini fact find is the best example of frictionless data capture available. I’m very much looking forward to it entering the US market”

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