The Adviser or Intermediary business model is one of the oldest where Advisers manually serve customers. Here we are talking about reinventing the old high touch business model for the digital age through superior client digital experience and automation of many Adviser tasks, such as onboarding, advice report generation, portfolio building and monitoring, to name a few. These business models are primarily for Wealth Advisory firms or Product Providers who want to distribute their products through Advisers and Intermediaries acting as a sales enablement tool in a B2B2C model.
There is a growing recognition that the next generation coming into wealth will have different needs and expectations around service provision. They will want a different high-touch service level combined with digital that is enabled over the channel of their choice and at the time of their choosing. Going digital was an ongoing issue before Covid19 but has been pushed sharply into the spotlight as advisers and clients alike needed to find new ways to connect remotely and seamlessly engage quickly.
The firm’s adviser needs to be given equal importance in providing a modern practice management and financial planning software that offers superior flexibility in terms of interface, communication, functionality and automation wherever possible. Our digital tools will allow them to focus on the activities to add value and work towards having a deeper relationship with the clients. We think the need to provide digitalisation is overwhelmingly clear. The successful wealth managers of the future need to consider how to meet clients’ needs and free up their advisers to provide customisation and value-added services with superior client engagement.
We set out to create a cloud native SAAS based Adviser/Intermediary software platform in their market that can meet the demands of the firm’s next generation of clients/investors to serve them entirely online or in a hybrid manner.
The adviser technology we built needed to make an efficient and thorough job of each stage of the client lifecycle. From digital prospecting, onboarding, planning, implementing, reporting and then ongoing engagement and management, there needed to be one unified wealth software sat underneath that can automate as much as possible. The solution we built had to make life easier for the firm’s clients and its users (advisers, portfolio managers, operations and compliance staff).