London and Manchester were the venues for Intelliflo’s second annual ‘Change the game’ Conferences where nearly 800 delegates heard how, according to a recent Fidelity report, becoming an ‘eAdviser’ is the single greatest factor in whether advisers succeed or fail.
The day went on to show delegates how by harnessing technology and putting it at the heart of your business, advisory firms are more likely to see increased profitability, better client engagement, streamlined business processes while satisfying the regulator.
We started the day with James Wouldhuysen looking at the IT fear within our society. This was then followed by Nick Eatock who busted some myths on digital engagement before launching the first stage of our automated advice capability. Mark Hopcroft of Cofunds, our major partner in this exciting development, continued by explaining their involvement. After lunch we were treated to a Q&A with British athlete Iwan Thomas and then finished off with a humorous but enlightening session with economist Justin Urquhart Stewart on Brexit.
Is a robot stealing your job?
This key note session looked at technology advances from a consumer and business point of view. The fear of IT is in our society, but a glance at the role of robots shows that IT is not taking people’s jobs and that robots are now working alongside workers - not instead of them. Other industries have shown that IT is a supplement and not a replacement and it does not stop face time with clients. It will change it. Adviser firms and providers will need to offer the same. The need to adopt new, advanced and always updated IT is not just about future-proofing businesses – it’s also about big opportunities for advisers.
The art of the possible
Almost a year on for the launch of Intelliflo’s Personal Finance Portal (PFP), this key note session had some real world experience and data from actual usage by end clients. We shared some of this data and in the process, busted some myths about digital advice. As more and more firms use our current client portal (PFP2) to service their clients, we described how we are continuing to reduce servicing costs of your clients with a range of exciting enhancements in our pipeline. We also showcased our first stage of our automated advice capability.
Automated advice – the future
Cofunds finished the key note session by looking at how the UK’s largest investment platform is an ideal partner for PFP AA and has extended its integration with Intelligent Office for trading, execution and payment of ISAs and a General Investment account, which will enable advisers’ clients to self-serve using the power of Cofunds.
Implications of Brexit for the financial services industry
We finished off the day with a special guest appearance by Justin Urquhart Stewart. He delighted us with an amusing and informative view of the UK, its place in the world and Europe and the possible implications that Brexit may have on us.
Future of digital advice – threat or opportunity?
Building on the themes of the morning, this session heard from Simon Munday of Prosperity IFA who gave examples of how they are currently using PFP, the benefits they have seen and expect to see and how they now have better client engagement and better client relationships as a result.
Integrating technology within a single eco-system – a best of breed approach
This session heard from Mitch Hopkinson of deVere United Kingdom showcasing how their business is operating across front, middle and back office processes in a fully integrated way, incorporating wealth-planning tools and straight through processing.
Marketing to build your business
This session looked at making the marketing your business easier. It focussed on how advisers could leverage social, web and email to drive more ROI through the business, as well as how to translate advisers’ offline networking skills to the digital world. The session also showcased a new digital and social marketing service being offered by Intelliflo.
Meeting the needs of the 2020 adviser. What will advisers need to flourish in the 2020’s?
Matching technology to advice requirements - MIFID II, big data, virtual offices etc. is essential and this session looked at how placing technology at the heart of your business and leveraging integrations will enable advisory firms to drive operational efficiency while reducing costs and supporting compliance requirements.