Technology is making it easier for independent financial advisers (IFAs) to serve clients flexibly, according to research from ValidPath.
The survey found 22% of clients were based over an hour’s drive away from their adviser, so remote meetings, digital onboarding, and secure online tools had become essential to doing business and keeping relationships strong.
With more clients further away, 28% of meetings were being held remotely, while less than a third (29%) of advisers thought in-person meetings were always needed for new relationships.
Nearly half (49%) of those surveyed said technology was the most important factor in finding and keeping clients.
Angus MacNee, CEO of ValidPath, said: “Client expectations, preferences and physical realities combined with new technology and communication channels are broadening the opportunities for providing advice. Increasingly, utilising a hybrid approach of face-to-face meetings and remote servicing is enabling IFAs to service more people, more cost effectively, with a better user experience.”
“For example, for time-pressed clients, or those that prefer or cannot meet in person, digital options are invaluable.
“Virtual meetings, digital onboarding, and secure online communication tools are making it easier for advisers to stay connected without sacrificing the quality of their service offering or their long-term client relationships.”
MacNee added: “A robust technology strategy cannot be aspirational, it needs to be implemented as a crucial enabler that allows advisers to focus on delivering meaningful, personalised advice while offering clients the flexibility they may need or increasingly expect.”
