Intelliflo - Online adviser software

Switch on to digital client engagement, urges Intelliflo

By Jo Gilbey
Find me on: LinkedIn Google+ Dec 2, 2015 9:44:55 AM

 

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‘Some advisers are in danger of falling behind the digital curve’ according to Intelliflo’s Executive Chairman,
Nick Eatock.

His comments come following informal research carried out by Intelliflo amongst advisers that highlighted some misconceptions about how digital technology is changing expectations across the generations.

“The majority of our clients are fully aware of the importance of having digital tools to drive their business forward but some are missing a trick,” says Nick Eatock. “Mobile technology is incredibly fast paced and institutions such as banks and building societies are using it to offer their customers instant engagement. Advisers have the opportunity to do the same but they need to act quickly if they are to compete with the might of the
multi-nationals.”

To help advisers understand the digital landscape Intelliflo has published a white paper that brings together statistics from multiple research projects. Called ‘Switched On’ the paper concisely captures the existing state of play across internet use, mobile technology, demographics and competitive developments.

Misunderstanding the demographics of technology adoption is one area Intelliflo has highlighted as a pitfall for advisers.

“Online engagement is not just for the young, it’s something that all generations, genders and degrees of wealth are embracing. There’s a real risk that advisers who delay adoption of digital engagement because they have an older, wealthy client base demographic could find themselves at a disadvantage when it comes to client retention in the near future,” says Nick Eatock.

High net worth clients are increasingly engaged with online interaction. According to the Capgemini World Wealth Report 2014, 55% of those in the high net worth bracket in Europe say all or most of their wealth management relationship is conducted via digital channels, with 61% expecting this relationship to be conducted through digital channels in five years.

Gary Beck of Alexander House is an advocate of Intelliflo’s Personal Finance Portal (PFP), which provides online access to a client’s financial situation. He agrees with Nick Eatock: “I hear some advisers say that online access 24/7 is not relevant for older, wealthier clients but that’s not my experience. The majority of my clients are aged 50+ and all have embraced the benefits this technology offers them in terms of being able to view their finances as and when it suits them and in a format that is easy to use and understand.

“Although you do need to make an investment of time to set the system up it’s definitely worth it. With online banking and instant access becoming ever popular, I’m certain this sort of service is what clients will expect as standard from their advisers in the not too distant future.”

Intelliflo’s ‘Switched On’ white paper is available to download free at http://www.intelliflo.com/switchedon.

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For more information please contact Jo Rimmer at Redspark PR on jo@redsparkpr.com or call 07970 088383.

About Intelliflo

Intelliflo (www.Intelliflo.com) has been providing information technology services to financial services companies since its formation in 2004. Its leading web-based business management software, Intelligent Office, helps financial businesses large and small to improve efficiency and increase profits. Intelligent Office supports over 1,500 firms and 13,300 users with assets under advice of £231 billion (as at 30 September 2015).

In July 2013 HgCapital, a leading European private equity investor in B2B technology companies, became a majority shareholder in Intelliflo Ltd. HgCapital has a wealth of expertise in developing web-based software businesses and is committed to supporting the next phase of Intelliflo’s growth.

In March 2015 Intelliflo was listed among the top 25 best performing privately owned technology companies in the UK mid-market. The list is compiled by Megabuyte’s independent and highly-regarded research team and is based on financial performance and long-term potential.