The task of connecting with the next generation of clients is a necessary challenge for Advisers who don’t want to get left behind. It’s also a job that Rob Tedder, UK Account Manager for Conquest Planning, is familiar with. Rob’s goal is to get every client with a live financial plan that they interact with and understand the output.
“If a business isn’t interacting with a multi-generation of clients then they’re absolutely missing a trick.”
There is still a large amount of Advisers who are reluctant to adopt and embrace digital technology when advising clients. However, neglecting to adopt multi-generational planning into your strategy may be more than just missing a trick, and could consequentially lead to being left behind as an adviser.
65% of the next generation will not work with their parents’ Financial Adviser after their wealth has been passed down. This means millennials will work with a different adviser to their current one simply because they don’t have a pre-existing relationship.
In this episode of The AdviserTech Show we delve into the barriers advisers have set themselves by not promoting digital adoption, and how you can avoid being one of the of Advisers who are on their way to losing another client.
Rob kicked off his career journey with an unconventional background in studying food at University, before making his first entrance into the financial industry with pension administration work. His passion is helping advisers and firms engage with technology to improve their business practises.
Tessa and Rob dispel the myth that the older crowd won’t use mobile technology, and it’s actually doubts of the adviser that create a barrier when it comes to digital adoption. One of the reasons for this resistance is the belief that clients will bombard advisers with the new technology and plans they don’t understand.
Tessa is adamant that technology would actually overcome this issue. Whilst using traditional methods of communication would lead to hundreds of phone calls a day for advisers who have clients with queries, digital forms of communication overcome this, as they allow bulk messages and push notifications to give clients a full, quick and easy explanatory rundown.
Listen to this episode to hear moneyinfo’s Managing Director, Tessa Lee, speak to Rob Tedder about how tech can be used to bring the client more into the planning process, and how tech can drive efficiencies within financial organisations.
From Pensions to Pixels | Dan McMahon from Hyman Robertson | S3 E5
Regulation Innovation | Henry Cobb on Navigating Change | S3 E4
What’s keeping financial advisers awake at night? | Matt Jeffery from Alpha FMC | S3 E3
Ruth Handcock on Transforming the Advice Industry | Octopus Money | S3 E2
A Journey in Finance | Insights from the Verve Group | S3 E1
Who’s afraid of the big, bad technology adoption? | How Advisers have used technology over time | S2 E6
How to navigate through a moving landscape | Essential technology for Financial Advisers and Wealth Managers | S2 E5
Getting your advisers excited for launch | How to release new tech to your staff and clients | S2 E4
Connecting in the most positive way | Advice firms controlling their platform experience | S2 E3
The gale of creative destruction | What Adviser Technology is lacking | S2 E1
Ep 23: The Consumer Duty All-Stars
Ep 22: Turning around business quicker feat. Wendy Fisher, Progeny
Ep 21: The road to B-Corp feat. Anthony Villis, First Wealth
Ep 20: The importance of empathy as an adviser feat. Giselle Clayton, Financial Planner
Ep 19: Onboarding clients from the get-go feat. Anna Wren, Administration Manager at Motus
Ep 18: Saving 100 business days per year - feat. Dominika Sieradzka-MacCuirc, Founder of RIE Solutions
Ep 17: The BIG Opportunity for Innovators feat. Dr Emma Black from Cascade Cash Management
Ep 16: Talking Tech with Tim Walton, Aviva’s Platform and Fintech Integration Manager
Ep 15: Supporting the Trailblazers with Lewis Hamm from O-IM
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