There is no doubt that face to face advice has and we believe will continue to have a place. However, times are a changing and we believe that advisory cost pressures are on the horizon and firms must plan to protect against such future changes. For certain types of client and segments of an advisory business, an automated advice offering can save significant time, reduce regulatory burden, time spent on administration and increase profitability...
Nowadays, clients are all more aware of the need to provide for their financial futures, and to fit in with their busy lives, clients are increasingly more comfortable with researching and buying products online.
If your advisory firm is looking to offer a restricted advice or remote offering to its clients, a straightforward, affordable way for clients to invest and have decided that you don’t want to offer face to face advice to a segment of your clients (existing or new), then taking advantage of our Self Invest Portal service module may be the answer. You can find our Self Invest fact sheet here.
Firstly, clients will be asked some questions about their circumstances and approach to investing, so your firm can find out about your clients investment needs and match any investment solution to a clients specific goals.
Then, based on what your clients tell you about their attitude to risk, how much they want to invest and over what time period, a risk-appropriate investment will be recommended. Clients will then be able to see projections showing how their investment may perform over time to help them understand whether it will meet their goals.
If a client is happy with your recommendations, they can invest straight away with a simple, secure online payment. Or if a client has any queries or want to talk to your firm about their choices, they will be available to do so at the click of a button. Clients can interact with your firm online via your website - enquiry form/contact details.
Clients will receive an illustration and simple report as a record of the process, confirming their input, the charges and the recommended investment. Plus, they will be able to track their investment whenever they want to see how it’s progressing towards their goal. Your firm can even send a client automatic alerts to let them know whether they are on track.
This service and functionality is subject to any existing back office integration and may require considering one of our preferred back office systems, which provides access to the ‘Client Portal.’
"So why not let us show you how your clients purchasing products through automation could work for your advisory business..."
You should be aware that investments carry varying degrees of risk and as their underlying value can fall as well as rise and your clients may not get back the full amount invested.