A new white paper by SSP, a leading global provider of technology software solutions, reveals that despite the rapid change and demand towards digitisation, the majority of financial advisers in the UK still prefer to service customers through traditional channels. Research conducted by SSP shows that, surprisingly, over half of advisers (56%) have no plans to implement a digital strategy in the coming year.
However, SSP found that almost half (49%) of UK professionals would consider paying for financial advice that is delivered online, which emphasises there is a growing need for an omni-channel approach to customer engagement.
This is clearly something that needs to be addressed. Given the prolific adoption of smartphones and tablets, particularly among the growing Generation Y, there is increasing demand from customers requiring financial advice that is delivered online.
SSP’s white paper calls for financial advisers to start putting in place the building blocks to ensure they are digitally relevant in the lives of their customers. SSP is encouraging financial advisers to focus on providing omni-channel advice and adopt a flexible technology platform, which can ensure advisers reach the right clients through the right channels.
Shaminder Gill, Head of Strategy and Proposition at SSP, said:
“The digital age is truly upon us. Digitisation is driving significant changes which are starting to be felt in the financial services sector. As the world continues to rapidly adapt to meet the changing consumer demands, financial advisers will also need to evolve to reflect the market conditions and be able to remain competitive in today’s marketplace.
We, at SSP, are continuing to make significant investments in our solutions. This allows financial advisers to benefit from new technology and functionalities across a range of channels, insuring they have systems in place to offer advice more effectively and reach a wider audience.”
