Robots were originally created to carry out the tasks that humans did not want to do.
Complex algorithms and clever technological innovations have led to the rise of the robo-adviser, with all the headlines in recent years highlighting this as a potential threat to traditional advice.
However, with familiarity comes contentment and many advisers FTAdviser has spoken with no longer see technology as a threat, but an opportunity to have a ‘robot’ do all the hard work.
According to advisers, better technology and faster processes fundamentally leave them more free to focus on relational aspects of financial planning.
In our specialist guide to innovation and technology, Michael McLintock, director and independent financial adviser at Adelp Financial Solutions, explains how the use of innovative technology is vital to running his business.
He believes the best client experience comes with having “magnificent” technology in place, for example using back-office technology and valuation tools means clients get more tailored investment reports.
As a result, he says: “Discussion around risk and the link to asset allocation come to life and this leads to better client understanding of the risk to which they are exposed.”
The special report also explores what advisers can expect from providers when it comes to technology and innovation in the future.
This is particularly pertinent, as the Financial Conduct Authority has extended its commitment to Project Innovation to help firms use technology to provide lower-cost advice post pension-freedoms.
The report also shows how financial advisory firms - large and small - are moving beyond expecting providers to come up with all the technological innovation, and starting to develop their own bespoke software and systems.
Our special Innovation Report shows how this can be done simply and effectively, to boost your own business, engage younger potential prospects at the beginning of a life’s financial journey, and enhance the whole advisory process for you and your clients.
Click here to read more.
The report also contains links to FTAdviser’s Online Innovation and Service Awards 2016.
Follow our #OISAwards16 hashtag on Twitter to share your opinions and find out how to make your vote count.
