Nick Eatock, executive chairman at Intelliflo, was recently interviewed by Asset TV on the subject of automated, or robo, advice. The full version of the video is worth 36 CPD minutes and we have a highlight reel of the interview below:
Whether your business was “born on the web” or has been around for 100 years, you’re living in the age of cloud, analytics, mobile, and social computing where omnichannel has become table stakes. To differentiate yourself from your competitors, you have to give customers an immediately engaging experience. To deliver that experience, you need freedom to experiment and innovate. Seize the opportunity and try early, learn fast, and scale easily. Claus T. Jensen, author of APIs for Dummies, IBM.
E-advice, robo advice, automated advice; the pervasion of financial advice delivered through technology continues apace, although many financial advisers feel we are a way off the tipping point where the old practices of existing clients must be balanced with the new practices of potential clients.
If sorry is the hardest word, then change is the hardest action. It raises the spectre of one thing we are all inherently programmed to hate: uncertainty. We are all creatures of habit.
Being an IFA is perhaps one of the more challenging professions to enter, what with the shifting sands of some of the toughest regulations in the world and a reluctance for some clients to pay the costs involved in providing them with the advice they need.
Do you remember Reginald Perrin from the 1970s TV comedy? He was the stressed executive whose excuses for being late into the office every morning from his suburban home ranged from the mundane to the ridiculous (“Twenty-two minutes late, badger ate a junction box at New Malden”).
This morning, as happens every week, I received a text from my bank itemising what was in my account and the transactions that had taken place since the week before. It’s not something I specifically asked them to do but the fact it happens provides me with enormous comfort.
Meetings are hugely important in any business operation. For a start, they allow teams to collaborate internally, helping them share valuable information, inspire each other and ultimately make big decisions. Much of the same is true outside of the enterprise confines, where customers will naturally look for as much information as possible to help make their own purchasing choices.