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Advisers could welcome 1,000 clients each with tech

Advisers could welcome 1,000 clients each with tech

Advisers could offer their services to up to 1,000 clients each if they use technology better, Nick Eatock has said.

The founder of Intelliflo, which supplies online software for financial and mortgage advisers, was speaking at the company's conference in London today (20 June).

He said advisers have the potential to bridge the advice gap between people who need advice and those who can actually afford it.

He said: "Is advice for all an important target? We think it is both relevant and necessary and there is a large amount of research that agrees with that.

"You might be thinking how you can possibly scale your business to meet the needs to 300, 400 or even 1,000 clients per adviser rather than the typical 150.

"We want to show you how technology can help meet this demand."

Mr Eatock said Intelliflo had made a number of changes to its Intelligent Office and Personal Finance Portal systems following adviser demand, including a 'gamified' fact find.

Gamification is the concept of applying game mechanics and game design techniques to other spheres.

Mr Eatock also announced the launch of IOStore, a portal of other technology firms which had integrated their systems with Intelligent Office, including SEI, CashCalc and Seven Investment Management.

Mr Eatock said: "If we are going to improve the way technology works, all technology and software companies are going to have to work together."

Nigel Brook-Walters, UK head of asset management sales, trust and advisory at SEI, explained his company had taken part in the scheme based on its experiences in the USA.

He said: "Some of the businesses we power there are four or five advisers strong but manage many billions of assets because they are using technology to power their business.

"Because of the lack of integration here in the UK that is just not the case."

Phil Perry, director of Cheshire-based Ark Financial Planning, said: "It is about the quality of the service at the end of the day. You cannot see that many clients and give them the time and service they require, at least not the quality of clients you would be looking for.

"It is about reviewing and looking after those clients. If you have got that many clients they are not being looked after."