Robo-advice, transactional developments and a new generation of advice-seekers growing up with technology have been shaping how the financial services industry deals with clients.
In October 2014, the FCA set up Project Innovate - a means by which the City regulator hoped to encourage technological innovation among advisers and providers.
The aim was to challenge existing, traditional business models and develop cutting-edge, lower-cost, robust services delivered online rather than just face to face.
Just over two years on, how has the financial services industry - in particular advisory firms and networks - risen to the challenges of Project Innovate and adapted to meet the demands of future generations of clients?
Contributors to this guide: Gillian Roche-Saunders, head of venture finance at Bovill; EY; Chris Hannant, director general of the Association of Professional Financial Advisers; Charles Owen, founder and director of Co-Investor; David Geale, director of policy at the FCA; Martin Bamford, chartered financial planner for Surrey-based Informed Choice; John Cowan, executive chairman of Sesame Bankhall Group; Abbie Knight, founder of A Business Innovation; Greenwich Associates; Deloitte Consulting; and Michelle Pearce, co-founder and chief executive of Wealthify.