Nick Eatock, Executive Chairman, Intelliflo
You have to be prepared to adapt and evolve as the technological landscape can and will, change very quickly. It is important to embrace and develop new technologies as soon as possible to not only get the most out of them, but to be in position to evolve them within your business. It is also important to be an interactive business and to integrate with other technologies and providers. At Intelliflo, we have developed an open API (application programming interface) which enables our clients to utilise as much, or as little, of Intelligent Office as they choose. They can interact and work with the system in the way they define. It gives near limitless possibilities in regards to integrations and third parties that they can work with now, and can work with going forward. This future proofs them to a large degree, since they will always be able to add in the latest technology to their system.
How are advisers engaging effectively with new clients?
Evolving client demands and expectations are changing the ways in which advisers interact with all of their clients, not just new ones. Of course, there is still the phone call and the face to face meeting, but expectations have shifted in recent years and clients now expect a fully online operation. We address so much of our lives online and financial advice is no different. You can access your bank account on your phone, so why not your entire financial portfolio? At Intelliflo, we have developed our Personal Finance Portal (PFP) to enable advisers to interact with and serve their clients online. It offers end investors a full overview of their financial portfolios, which is in line with their expectations. New clients need to be reached online and they expect an online service, but there will always be a demand and a need for old fashioned telephone and face to face engagement. Those advisers that are engaging effectively with clients are doing both.
How can advisers use technology to encourage multi-generational family planning?
By providing a hybrid service offering of online and human advice propositions, advisers can appeal to both younger and older generations. The online service is all important as a way of reaching out to and engaging with the younger generations, whilst the older generations still have a demand for a human touchpoint. With an online offering fully supported by properly qualified advisers, advice firms can be all things to all clients.
The online portal is key to engaging future investors. It enables families to view their finances at a time that suits everyone and enables parents to share their financial positions with their children. It encourages discussion and acts as an educational facility. Positions can be openly discussed before decisions are executed at the adviser level. This will help children to have a better understanding of their family’s financial portfolio and to be better equipped to plan for their own futures with any inheritances that they come into. Developing a clear understanding of family finances has never been easier.