Technology is the key to the future of financial advisers, Countrywide network members were told ...
Technology is the key to the future of financial advisers, Countrywide network members were told at the annual conference held in Birmingham today.
Speaking to around 600 delegates, Tony Wood, managing director of Countrywide, said technology, along with other aspects of business development at the Misys Group, would improve the quality, advice and service for the consumer under future development plans.
According to senior officials at Misys IFA services, the team who look after the development of the Countrywide and Kestrel network, changes to the operating regime are now being developed and expected to be rolled out over the next three years.
Among the sketchy details of Misys' business development initiative, Patrick Gale, chief executive of Misys IFA services, said discussions are under way with the FSA to build an open relationship with the regulator which will eventually include discussion about the delivery of compliance data electronically.
"The FSA is investing a fortune in electronic data delivery because they do not have enough feet on the streets. The way it requests information is going to change," says Gale.
"We have got to automate our processes so that data can be delivered to the regulator. They have confirmed there will be fewer visits in the future but more requests for data. If you can't provide the data they will close you down," he added.
Countrywide members have been told they will receive training reports to help with the implementation and eventual use of technology in all areas of their business.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till