Advisers lose 43 days a year by not 'embracing' IT - Wealth Wizards

13 hours added to each new case

Sophie King
clock • 1 min read

Financial advisers are losing an average of 43 working days a year from tasks that could be automated with technology and so save them time, according to research conducted by Wealth Wizards.

The research found respondents spent 20 hours on the end-to-end advice process where technology was not being fully embraced. This included time spent on tasks such as fact-finding, risk-profiling, market quotations and the drafting of suitability letters.  When technology was fully automated to the same advice processes, however, participants said it took them an average of seven hours per client. As such, Wealth Wizards concluded, advisers were spending 13 extra hours on each new case due to a lack of technology, equating to 43 days per year. If they used the appropriate technology ...

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