Internet usage among individuals aged 65 and above has also experienced significant growth, reaching 98% in 2022. This surge in internet use among older Australians highlights their willingness to embrace technology for their financial needs. Financial advisers must acknowledge and cater to their digital needs to effectively serve them.
Advisers who offer client portals can deliver a personalised and accessible experience that meets the expectations of their tech-savvy clientele. By providing user-friendly interfaces, seamless navigation, and tailored financial tools, advisers can bridge the digital gap and provide a superior client experience.
The traditional 9-5 model no longer applies
The COVID-19 pandemic has also brought about rapid changes in the way businesses operate, and the financial advice sector is no exception. One significant shift is the recognition that the traditional 9-5 model no longer applies.
Digital platforms have enabled clients to access financial advice and services at any time that suits them, even beyond regular business hours. This increased accessibility has become prevalent in the post-COVID era, where clients are more inclined to seek remote financial guidance and self-service options.
Client advice portals have revolutionised the client experience by providing personalised service and improving the user journey. Through web applications accessible on smartphones, clients can access personalised financial planning tools and receive tailored recommendations based on their specific needs and goals. This shift towards personalisation is crucial in today’s digital age, where clients have come to expect exceptional digital experiences across various industries. By delivering a user-friendly and intuitive digital interface, financial advisers can enhance the overall user experience.
As technology continues to evolve, it is likely that the financial advice industry will further embrace digital solutions to better serve clients and meet their digital expectations.
Cybersecurity: ensuring data protection in the digital era
Clients of all generations are increasingly concerned about the security and privacy of their financial information. Client portals address these concerns by implementing robust security measures such as encryption, multi-factor authentication, and secure data storage. These measures instill confidence in clients, assuring them that their sensitive data is protected against cyber threats. By prioritising security and privacy, financial advisers can cater to the expectations of clients from different generations and build long-term trust and loyalty.
By embracing client portals, financial advisers can revolutionize their service offerings, provide a seamless and tailored experience to clients across all generations, and strengthen their position in the evolving digital landscape.