Changing The Future Of Financial Advice

For those of you who don’t know, Nucleus are one of our key business relationships providing an investment platform for our clients’ assets.

I am lucky enough to be on the group which helps drive platform development to help improve it for advisers and clients.

To cut a long story short a couple of us retired to a bar after the meeting (purely to pass the time before our flight you understand), and we got to chatting about the problem with how financial advice is delivered.

The first of these comes back to the obsession with investment performance, stock selection and fund picking.

This is what investment manager’s, stockbrokers and (some) financial advisers want to talk about, and worse than that they think its what clients want to hear!

Now don’t get me wrong, investment performance is important but only in relation to the client’s goals, and what is even less important is the detail of how that was achieved as long as it was within the agreed parameters.
We know that clients what to talk about the things that are important to them, reaching their goals and having enough money to do what they want to do.

Going back to the Nucleus group, one of the reasons we are involved is because we have a passion for pushing technology forward to change how financial advice is delivered.

I am sure I have mentioned before but in terms of delivery of quality financial advice, the UK is at least a decade behind the US.

The lack of innovation and integration means that as a client you can’t even do simple scenario planning without meeting with your adviser, giving him the various options you are considering, and then waiting for him to go off and prepare them for you.

We want to change this though.

Through working with companies who understand where the industry needs to go and making significant investment in technology in our own business we hope to be able to deliver those truly meaningful interactions sooner rather than later.

In the meantime we will continue to improve our service utilising everything at our disposal.

I would truly appreciate your feedback on what you would like to see us deliver to you through improved technology.

Until next week.

This email is not intended as advice as should not be treated as such.