The Secret Opportunity of Tech

Tech brings many benefits, but does it pay to jump on every trend?

We all know tech is revolutionising the advice industry with smart software and online solutions, but there’s one vital aspect of advice that it’s changing in a different way.


The Limits to Tech

Bank managers used to be the human side of the calculations underpinning people’s finances. But around 40 branches have been closing a month, as online banking has drastically altered the way people manage their money.

This doesn’t just apply to banking – now people use Uber rather than public transport, stream new film releases to their Smart TV, or order restaurant food to their home.

So what does this mean for the future of advice?

In a world that’s more connected, but also more solitary, make the most of this opportunity by being the human face of people’s finances.

As other advisers become more distant by embracing online advice, carve yourself a niche by remaining present.

Although remote working has its benefits, advice is an industry in which clients are often trepidatious, and reassurance from behind a device sometimes isn’t enough.

And while shared calendars and online communication can make organising meetings easier than ever, when it comes to the meeting itself tech can’t replace your soft skills.

So instigate face to face meetings - which have powerful retention benefits, and will almost always lead to more business overall. With more and more advisers moving their services online, these benefits will only move further in your favour.


Your True USP

And when giving advice the true point of difference isn’t the tech – it’s you.

You’re what sets your brand apart from others, so be sure to build your brand around who you are and what you offer, and promote the personal side of your advice.

So while you can use technology to market yourself further, nothing beats the human touch.

About the author
Oliver Broadhurst
Oliver Broadhurst
Oliver has been writing professionally in the financial services space for over five years, focusing on topics ranging from customer experience to industry regulation. He’s consulted with organisations such as UK Finance and the FCA to produce business articles, industry reports, and white papers, while providing insight as a member of panels including The Opening Banking Implementation Entity’s Consumer Group.

More articles