IFAs must embrace technology to focus on the value of advice

Tech playing 'increasingly important role' in financial advice process

clock • 3 min read

With a finite number of financial advisers, how can advice firms deliver cost-effective, consistent, personalised advice to more people and remain profitable? Nick Eatock has the answer...

The latest report into the advice gap from the Lang Cat found that just 11% of British adults, around 5.7 million people, have taken advice in the last two years. But of those who have taken it, the vast majority (88%) feel that it is good value for money. We know that taking advice early enough can make a huge difference to people's finances - 2019 research by the International Longevity Centre UK and Royal London found that it could provide a boost in wealth of £47,000 in a decade. So broadening access to advice is clearly a good thing. But with a finite number of financial advisers, h...

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