Intermediaries will be the focus of Standard Life‘s move into the realm of automated advice, 1825 chief executive Steve Murray has said, to make the process easier for advisers rather than for clients.
Mr Murray said clients of his company would not necessarily engage with the technology he was looking to invest in. “We are looking at using technology more widely as part of our business over the medium to long term.
“But we still absolutely believe that personal relationships will be part of financial planning. What we are trying to do is use technology to provide data to the planner; that’s how we see it developing.
“Robo-advice means 100 different things to 100 different people. We see it as supporting the adviser.”
He said the company would rule nothing out as technology evolved, but that the immediate focus would be investment in 1825’s underlying infrastructure.
The firm was set-up around this time last year when Standard Life bought formerly independent advice business Pearson Jones. Since then, the Scottish provider has wasted no time in further expanding its presence in the advice market.
This month it acquired Norwich-based Almary Green and Glasgow-based Munro Partnership to build its nationwide financial planning business, taking the number of advisers working for 1825 to over 50.
They will advise more than 7,000 clients on around £2bn of their assets.
Last month Mr Murray said digital solutions will have a major role to play in helping people to make informed financial decisions. He promised that 1825 would have a presence in six to eight regions around the UK, with 150 financial advisers.
