Using technology to enhance the service of a financial adviser

It’s remarkable to consider how much technology has shaped our lives over the past few decades. This has been especially true during the Covid pandemic, when virtual meetings have become the norm. This week, Lucy Wylde from team Weparaplan examines three key ways that technology is making financial advice more efficient, enabling advisers to offer a higher level of service to their clients.

Eight years ago, financial services relied heavily on paper fact-finds and original signatures. This process was time-consuming and could result in important information being lost or misplaced. Now, with modern IT systems and paperless forms, fact-finds can be completed quickly and securely. They also enable us to meet clients remotely, eliminating the need for physical meetings. Overall, the modern process of completing fact-finds is much more efficient and secure.

Prior to the advent of COVID-19, virtual meetings were rarely conducted in the industry as "face-to-face" was seen as providing better service to clients. This, however, resulted in financial advisers spending hours on the road, which reduced their productivity and hindered their ability to meet with multiple clients in a given week.

Since the start of the pandemic, virtual meetings have become more commonplace and remain so today. While some face-to-face meetings are still necessary, speaking with clients remotely offers an efficient way of connecting without the need to travel long distances. This translates to more productive advisers, providing better levels of service and able to see more clients per week. Additionally, virtual meetings also prove to be more cost-effective.

Furthermore, virtual meetings allow paraplanners to join in on client meetings, providing valuable advice and expertise to complex cases as needed. To learn more about how having a paraplanner join your client meetings can benefit your business, check out our informative blog.

Providing clients with access to provider platforms enables them to monitor their investments' performance and remain informed on whether their financial goals are being met. This not only gives them peace of mind, but also allows them to contact their adviser if they have any concerns. Advisers are thereby able to address their clients' worries and help retain their investments and patronage.

If you have enjoyed this blog and would like to learn more about how Weparaplan can help your business, please don't hesitate to get in touch. You can reach us online or by calling 01472 728 030. We look forward to hearing from you!?