Introducing the eAdviser Index

By Nick Eatock, Executive Chairman, Intelliflo Ltd
Find me on: 14-May-2018 09:44:37

We’ve long championed the role that technology can play in the financial advice profession here at Intelliflo. And why wouldn’t we? Our business management software, Intelligent Office, is used by about a third of the UK financial advice profession, with our technology sitting at the heart of those firms’ operations.

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Intelligent Office provides its users with a plethora of functionality, enhanced by an ever-growing pool of integration partners from across the advice industry and beyond. Firms can use as much or as little of the system as they choose, but with so much on offer, why limit your horizons?

This is why we are launching the eAdviser Index, to highlight that embracing the technology on offer can have a fundamental impact on any business.

The eAdviser Index, in short, gives each of the firms which use Intelligent Office a score, determined by their adoption of the tools on offer. At first this may seem self-fulfilling: use more of our tools and we’ll give you a higher score.

What the eAdviser Index highlights conclusively, however, is that those firms which score highly are outranking their fellow advice firms in terms of a whole range of business metrics such as number of clients advised, revenue generated, recurring revenue and assets under management. The correct use of technology, rather than the use of technology for the sake of technology’s use, is what is driving soaring ROI for our leading eAdvisers.

Whilst each Intelligent Office user firm will have a copy of their eAdviser Index score made available to them on 27 July 2018, those firms attending our Change the Game conference this year will get their score the very next day.  We’re very excited to give a bit of a sneak preview now. Over 57% of our user base has been included in the research so far.

The Index has shown us that firms which embrace and adopt the technologies available generate, on average, up to 83% more revenue per adviser than those that do not.There really is a marked difference between those firms which are using the technology and those which are not.

The eAdviser Index isn’t just about technology, either. Of course, adopting the right technology and deploying it effectively is hugely important, but the Index also highlights the importance of the human role in the advice process. Those firms with stronger administration teams also outperform their industry peers. This might seem like a common sense point, but a lot of firms still haven’t found the right balance. Freeing advisers to spend time with clients really pays off.

The aim of the eAdviser Index is to show firms where they can improve and how. We will be hearing from the number one ranked firm in the index at this year’s Change the Game conference, to show how it can be done and to highlight the business benefits that can be achieved.

We sincerely hope that the Index proves to be a useful tool for advice firms going forward, as a guide to how can they adapt and evolve their own businesses in response to technological advancements in the industry.

To register for your free spot at our Change the Game conference, please visit our CTG site here.