AstuteWheel: Revolutionising client engagement with the latest technology
By Hans Egger (pictured), Managing Director of AstuteWheel
At AstuteWheel, we have long been focussed on helping financial advisers improve client engagement by simplifying the advisory process and improving practice efficiency through technology. But advice technology, like the financial advice profession itself, is ever-evolving.
Mindful of that, we recently completely overhauled the AstuteWheel client engagement offer, transferring it to a new platform to take advantage of the latest technology. The new platform leverages a low-code development environment, ensuring flexibility and rapid iterations in building, maintaining, and upgrading the offer. We also brought our development team in-house so that we can be even more responsive to user needs, innovate more quickly, and maintain a higher level of quality control.
The low-code and no-code development movement is revolutionising the tech world as it takes away much of the time-consuming work involved in coding and allows web applications and prototypes to be built much more quickly. Pre-built templates, plugins and modules as well as other features such as database management, user authentication and integration API’s also add to the efficiency benefits.
The new and inhouse team means we can quickly adapt to industry changes, meet adviser needs, and continuously innovate, while at the same time reducing development costs. It also means we can focus on adding new features and improving user experience without being bogged down by complex coding requirements.
Since inception, AstuteWheel was designed to solve the key challenges faced by financial advisers, from the onboarding of new clients to ongoing client reviews. The platform semi-automates processes, thereby reducing administrative burden, and freeing up advisers to spend more time on building relationships with clients and providing quality advice.
Features include tailored data gathering solutions, personalised financial modelling, and visual scenario analyses, which allow clients to be more involved in the planning process, leading to stronger engagement and higher levels of satisfaction. The system is also ChatGPT enabled to provide a first step in adding Artificial Intelligence into the software.
A client portal provides a secure and user-friendly platform for clients to access their financial information. Through this portal, clients can update personal details, upload important documents, and review their financial plans at any time.
This level of access fosters transparency and builds trust between advisers and clients, while also reducing the need for time-consuming administrative tasks. The portal ultimately ensures that clients stay informed and engaged throughout their financial journey.
AstuteWheel also facilitates virtual meetings, embedding visual and interactive tools that make meetings more engaging and client-friendly. This capability supports the trend towards digital advice, helping advisers maintain strong relationships even in a virtual environment. These same tools also have the potential to enable the delivery of video SOA’s as an alternative to long and tedious SOA documents that most clients find overwhelming and don’t read.
A set of business management tools, designed to empower financial planning practices to streamline workflows, increase compliance, and enhance productivity, is also included in the offer. This helps advice practices with onboarding, fact-finding, strategy presentations, and ongoing client engagement—delivering a complete solution that integrates seamlessly into existing workflows.
The platform’s flexibility and focus on compliance also makes it easy for financial advisers to adapt to the Quality of Advice Review requirements as they are legislated, ensuring they can continue to provide high-quality advice efficiently. By staying ahead of regulatory changes, AstuteWheel helps advisers not only comply with new standards but also leverage these changes to deliver even better outcomes for their clients.
