Technology  

Adviser on tech push as Covid-19 drives client demand

Adviser on tech push as Covid-19 drives client demand

National advice firm Progeny has set its focus on developing technology as it looks to improve client experience and keep the momentum going post-coronavirus.

The adviser has appointed Tim Thompson-Rye as chief technology officer to lead innovation at the network, and is in the process of recruiting a group of individuals into data analyst, software developer and other IT-based roles. 

The adviser’s investment in technology across the business will be built around the three pillars of IT, innovation and data, all geared towards providing better client outcomes.

Mr Thompson-Rye said: “Technology is rapidly changing what clients expect from an advice firm, as they begin to seek the same tech-enabled and on-demand options that are available in many other areas of their lives. 

“We want to stay one step ahead of these demands, and in doing so, use technology to further enrich the relationship between client and adviser.”

Progeny has moved client meetings online and has conducted 60,000 minutes of video meetings so far during lockdown.   

Mr Thompson-Rye said although lockdown had come with its challenges, the network's adoption of technology had helped it solve client issues and provide a better service all around.

He added: “The current crisis has led to a period of invention and we have increasingly embraced technology to help solve problems.

"We have been listening to client feedback and have found that blending advice and technology allows us to offer clients the best of both worlds.

“Coming out of lockdown we want this to continue. We want to stay ahead of change and are therefore investing in technology to see what we can do to make out business even better.”

Neil Moles, chief executive officer of Progeny, said: “This is a significant investment in technology, and a commensurate investment in Progeny’s future.

“By embracing a connected strategy, we can provide on-demand advice that is able to meet and even anticipate client needs, thereby forging deeper relationships and significantly improving the service we provide. 

“It will also enable us to offer services to a wider market than ever before, democratising professional advice by reaching new clients and market sectors.  

“Through serious and structured investment in technology we have the opportunity to become the best and the most trusted professional advice firm out there, continually innovating and constantly improving client experience.”  

In December Progeny acquired London-based IFA Addidi Wealth, a firm well known for its female focus and campaign for change in the financial services sector.

amy.austin@ft.com    

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