Refining client engagement through fintech

The use of financial technology is essential for advisers to have a client-centric focus during meetings, as well as improving business growth, according to Astute Wheel.

A white paper from Fidelity had found advisers who increased their use of technology during COVID-19 had found a 32% increase in business efficiency. The ability to attract new prospects also increased by 35%.

It also had a benefit for the client with client satisfaction increasing by 15% to 20%.

Johann Maree, Astute Wheel practice development manager, said: “The new imperative for financial advisers is to upgrade their tech stack with a client-centric focus and use technology to engage and delight clients across the customer journey.

“Key components are online data gathering questionnaires, client education and visual modelling tools so that clients can make informed decisions.

“By redefining the client journey from prospecting, onboarding, developing the financial plan, implementing recommendations, ongoing service delivery and communications, advisers who develop a superior end-to-end client experience also create an engine for business growth.”

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Source: Refining client engagement through fintech | Money Management