In this episode of the AdviserTech Unplugged podcast hosted by moneyinfo’s MD Tessa Lee, we were joined by guest Wendy Fisher, Regional Manager at Progeny to discuss the processes of adopting and implementing new client facing technology in a progressive and expanding planning firm with big aspirations.
When Progeny adopted moneyinfo right at the start of the pandemic, they had to think on their feet. Wendy explains the implementation process, and how she tackled the challenge of getting buy-in from all internal stakeholders in the business; by offering continual training, making the portal part of every touch point with clients, and engaging the moneyinfo support team to understand the inner workings of using the functionalities of the portal.
When Progeny initially launched their portal, they bulk uploaded 2000 clients in the first 24 hours which demonstrated they had big intentions and were going to be a real trailblazer for moneyinfo longer term, showing how the roll-out of a new piece of tech can be carried out over a much shorter timeframe than may be anticipated.
Tess and Wendy discuss Progeny’s newly published survey: ‘Planning to Pass it On’, which explores the multi-generational transfer of wealth, the future of wealth technology, and giving access to clients’ children’s information, allowing family groups to plan for the future.
Progeny conducted the survey as they wanted to understand more about the plans people have around inheritance and intergenerational wealth transfer, how they communicate about it, and how they feel about what is often a very emotive subject. They asked three generations (Baby Boomer, Gen X, Millennial) about their attitudes and expectations for receiving an inheritance or gifted wealth and how important this may be to their financial outlook.
The key findings were really insightful and focus around five areas: intentions around wealth transfer; communication; emotion; expectation; and aspiration. They found that the majority of people are intending to leave an inheritance or pass on money to the next generation but beyond this, very few – only 17% - had a formal plan to do so. And only 3% had worked with a financial adviser on this.
Tune in to the next insightful episode of the AdviserTech Unplugged podcast to fully explore these interesting topics in more detail and get a detailed summary of the ‘Planning to Pass it On’ survey findings.
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
65 is the loneliest number | How to be a financial adviser that won’t get left behind | S2 E2
The gale of creative destruction | What Adviser Technology is lacking | S2 E1
Ep 23: The Consumer Duty All-Stars
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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