Intelliflo is planning to expand its automated advice service into protection, Nick Eatock has said.
The technology company’s founder said its service, which currently focuses on investment products, would be extended at the beginning of next year.
Intelliflo’s automated advice service is offered through its Personal Finance Portal which was launched two years ago.
Mr Eatock said: “We will launch a protection service that can be advised or non-advised and it takes a client through shortfall analysis and quotes across the marketplace.”
He said that Intelliflo’s automated advice service could be extended to every type of product across the industry.
Mr Eatock said: “We will do it one at a time though. We very much see a world where the successful adviser of the future will have an automated advice arm and a traditional advice arm.
“We are seeing mothers and fathers telling their sons and daughters about their advisers and it enables them to do so because while they might have thought of their parent’s adviser as a bit crusty, they actually have all this technology.”
Recently 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.
David Stealey, a financial planner with Vale of Glamorgan-based Romilly Financial, said: "We use Intelliflo as a back office system. I don't think automated advice is something our clients want. It is something very different to what we do.
"It would be a good addition to any firm but in the main if a client doesn't want to use us for looking into their eyes we are not really in the business of doing that. That's what they are paying us for."