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Factfinding tools are most useful for advisers: survey

The survey of more than 400 advisers revealed that while 58 per cent use online tools to reduce the cost of servicing these clients, the remaining 42 per cent were uncertain on their usefulness.

The online tools most used were for providing information to clients on factfinding at 96 per cent, email at 86 per cent, and website facilities allowing clients to view their financial plan at 73 per cent.

Advisers who did not regularly use online tools said that, if they were to use any, the most likely would be for factfinding at 22 per cent, email at 18 per cent, and website facilities, also at 18 per cent.

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It was found that Facebook would be the least likely online tool for reducing the cost of modest portfolio servicing at 47 per cent.

Online tools most used by advisers

Online tools for clients to input information to fact find before a client meeting


Email updates


Client-facing website for viewing financial plans


Text messages






Corporate Facebook page



Keith Churchouse, founder of Surrey-based Chapters Financial Planning, said: “This is a healthy debate on the subject. All advisers are looking at their future profitability and should be applauded for this. Online tools are a viable option to use and it is a reflection of the market that I can see more of this going on.”