How technology is helping financial advisers serve their clients better

How technology is helping financial advisers serve their clients better

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As technology permeates our lives at a scale never seen before with no signs of abating, it is only natural that financial advisers use technology to help provide a more comprehensive service to their clients. From the near-ubiquitous smartphone being used to provide an always-on approach to emails and connectivity to scheduling tools and far more subtle ways of helping clients manage their finances, any IFA who has yet to embrace technology risks falling behind their competitors.

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Personal finance expert David Rae writes in his Forbes column about the number of clients who are not completely honest and open about their finances with their advisers. Rae was analysing research carried out in the US, which uncovered some alarming statistics about spending habits and attitudes toward finance. According to the research, 72% of Californians admitted to lying to their financial adviser. Rae puts this down to a “California lifestyle thing”, but the facts speak for themselves. If clients are not painting the full picture to their IFA, advisers need all of the tools at their disposal to help them.

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Get ahead, get smart

Using the connectivity features on smartphones can help an IFA open vital lines of communication with clients. Although it is vital to have that line in the sand drawn indicating when clients can expect their advisers to be available, being on hand when needed is often very much appreciated. Of course, this does not stop with email. More than ever, IFAs are using social platforms such as LinkedIn, Facebook and Twitter to promote their services and communicate with clients. A pertinent tweet with a comment about a relevant article published by a reputable source can begin a debate and enhance your visibility to prospective clients, helping to grow your business.

Tools of the trade

Although social media platforms can be useful to communicate with clients and grow your business, having dedicated IFA software is vital to help the day-to-day job be done swiftly, accurately and efficiently. Tools such as software for financial advisers can be found at Intelliflo, providing full back end support for your business, compliance tools and even a client interface.

Hopefully, your clients are more honest about their spending habits than those in California. Even if they are not, using technology can help you to serve them efficiently.


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