Financial advisers need to adopt the same business model as the airline ‘Easy Jet’ when it comes to giving advice, according to Distribution Technology.
The technology provider said advisers could cut their workload by using technology and involving clients more in the advice process.
Ben Goss, chief executive of Distribution Technology, claimed that doing this could halve the time it took to give advice.
Mr Goss suggested asking customers to complete a fact find online before any meeting, making greater use of model portfolios with the customer present and giving customers online access to plans and progress.
He said: “There is an enormous demand for retirement advice but too few advisers to give it.
“There is a move towards the ‘Easy Jet trend’ where you get the customers to do the work or as much of the work as possible.
“This is a significant opportunity to service more customers and to do so more profitably.”
01/07/10
