Robo-advice  

Robos can't deal with real life cases, says trade body chief

He said technology was going to change the way advisers worked with customer data as more consumers will expect to be able to track the transaction online throughout the mortgage advice and application process.

He also stressed advisers were in the best position to use the data they had access to in order to keep up strong human relationships with clients.

Richard Howells, managing director of Sesame Bankhall Group, agreed that advisers were in a strong position because of the data they hold as this could help them ensure they remain the point of contact for their clients.

He said: "Brokers are in a fantastic position to be in the primary relationship with the customer because they inherently trust you. So, we shouldn’t waste the opportunity to broaden the proposition we offer to our customers utilising that trusted relationship status.

"Brokers have got the best legitimate interest, under GDPR [General Data Protection Regulation] rules, to hold the broadest set of data."

Mr Howells urged advisers to think about their technology strategy and work out how best to broaden their services to customers to ensure they remained the primary relationship.

imogen.tew@ft.com

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