Advisers defend 'old skool' paper-based practices

They argue keeping client data on paper in filing cabinets is quicker, simpler and safer, and point to a recent high-profile case where thousands of clients files were lost as a result of a single laptop theft. A survey conducted by 1st The Exchange last week suggested around 15% of financial advisers are continuing to shun technology by running paper-only practices. More than 120 of the 800 intermediaries surveyed by the technology provider said they "just use paper" to store and manage client data. 1st managing director David Child said: "With such massive regulatory and cost pressu...