Partner Insight: Does technology really make investment simpler?

Consumer Duty requires advice firms to focus on delivering and evidencing good client outcomes. The new rules have set higher expectations around the standard of care firms give their clients – and, paired with outsourcing, AI could be the ideal technology to help firms meet this standard. 

"It's not a coincidence that we are seeing more financial professionals move away from their value being wrapped up in the complexity of the investment solution and instead putting more emphasis on to goal setting, the financial plan and ongoing services," says Ilana Miller, investment development director at Royal London. "A growing number are choosing to simplify their centralised investment proposition by outsourcing to model portfolios to spend their time where it is has most value and impact."

In addition to outsourcing, Miller suggests AI can help answer complex questions quickly, improve client personalisation and allow advisers to be available 24/7 via chatbots.

To find out more about AI solutions to help meet Consumer Duty requirements, access the new Spotlight guide from Professional Adviser, produced in association with Royal London.    

*DATA PROTECTION STATEMENT: Your privacy policy – Please read carefully.

We set out below how and the basis under which we, Incisive Media*, will communicate with you. In our Privacy Policy we explain how we may use your data. For subscriptions, events, sponsored content and resources, we will use the lawful basis of 'legitimate interests' and we will use the contact details supplied to us to market to you regarding your trial or subscription, reader research, events and other related products. You will always be offered the option to change your contact preferences. Where you request a whitepaper or content published by one of our third party partners or attend a sponsored event which Incisive Media hosts, we will identify the third party or sponsors to you at the time and then pass on your contact details to them. They will contact you directly and their use of your data will be governed by their own privacy policy. Events may attract additional sponsors after bookings have opened and after the date you have signed up to attend, but we will identify all sponsors to you by email before the event.