eAdviser Index – insights for you
intelliflo’s eAdviser Index showcases how our software empowers advice practices with improved performance.
In-depth analysis of intelliflo office adoption
With the largest market share in the UK financial advice sector, intelliflo office enables detailed analysis of user behaviour, generating over 2 billion log events annually.
By comparing technology adoption scores, we can assess the software’s effectiveness. Our analysis includes aggregated business data, revealing the successful adoption of our software by our customers.
The results demonstrate that practices with higher technology adoption have stronger business metrics. Essentially, our Champions are able to service more clients per adviser, have assets under advice (AUA), and higher overall revenue compared to non-Champions. We also provide our customers with the eAdviser score so they can track their progress on the adoption journey.
Understanding the link between tech and business performance
Our eAdviser Index highlights the superior performance of advice practices that have fully embedded technology into their advice process across critical metrics such as client numbers, assets under advice and annual revenue.
How this could benefit you
Serving as a cornerstone for understanding the relationship between technology adoption and business performance, the eAdviser Index analyses nearly 4 billion interactions within intelliflo office per year. It categorises advice practices into four distinct groups based on their tech adoption scores: ‘Explorers’ (lowest adopters), ‘Adopters’, ‘Embracers’ and ‘Champions’ (highest adopters).
The four categories of advice practices
Explorers
Explorers have a low adoption score which is typical at the beginning of the journey and we work together ensuring the explorer period is as short as possible engaging with you to increase your adoption usage.
Adopters
This group of practices, in the 25-50% range, has a good adoption of our technology and is typically strong in the core areas that an advice business needs to function, such as valuations and income processing. However, they’re yet to fully leverage other efficiency-driving benefits that intelliflo office provides.
Embracers
Practices in this cohort have very strong adoption of our technology in most areas, achieving an eAdviser score in the 50-75% quartile of total scores. Many of these have established a technology vision, have delivered much of it and are well on their way to achieving Champion status.
Champions
This is the highest group of practices who have achieved an eAdviser rating in the top 25% of total scores. To get this they must be using all parts of the system and using several areas extensively in achieving the maximum points. These practices have set out a technology vision.
How eAdviser Index works
By looking at user interactions, our customer success team has developed six models that analyse activity management, valuations, income, document designer, personal finance portal (PFP), and data quality.
Using these models, the team provides each practice with a score from 0 to 100, depending on the extent to which they’ve integrated intelliflo office into their business processes. Scores are then combined to generate an overall adoption score that shows how effectively technology is being leveraged to achieve business goals.
How this could benefit you
Our customer teams help advisers to deploy elements of the technology more effectively through learn-as-you-go experiences and cutting-edge digital courses. This enables them to improve their ability to service more clients efficiently and deliver an exceptional experience.
A game-changing tool
eAdviser Index sets intelliflo apart from our competitors. It’s a unique, industry-first offering that ensures you receive proactive service and helps you use our software to its fullest potential. The tool even flags when your practice could be getting more out of the solution. This measure of success is why we remain a market leader.
Who is it for?
eAdviser has become a benchmark across the industry. Advisers use it to showcase their achievements with the product by utilising it as a roadmap to success.
Benefits of tech adoption for financial practices
Tech adoption is crucial for practices seeking success and delivering cost-effective client service. It enables advisers to service more clients and at a lower cost. It also provides a competitive advantage during a time of rising costs and resource pressures.
Revenue growth
This year’s eAdviser Index highlights that advice practices who maximised their use of intelliflo office generated per adviser 54% more revenue, 76% more ongoing revenue, 64% more assets under advice, and 39% more clients than those not yet fully using the functionality on offer.
Improved client engagement
By investing in the right tech stack and embedding it effectively into advisory business processes, intelliflo customers experience heightened efficiency, cost reduction, improved client engagement and expanded access to advice.
Benefits for your clients
Technology does more than make your life easier – it brings strong benefits for clients too. Embracing technology allows you to spend more time with your clients, creating a much more client-centric experience.
Technology also makes the omni-experience possible: your practice can communicate with clients online as well as in person, meaning that you have more flexibility to meet your clients’ needs.