Four ways technology is taking client reviews to the next level

Personalised reports, tailored information and dynamic fund analytics are making it easier for financial advisers to do business. Here’s how client reviews are evolving.

As we’ve already explored, the pandemic has spurred widespread innovation in the sector, with many financial advisers continuing to embrace technology.

Alongside the rise of video call client meetings and the acceleration of paperless processes, IFAs are welcoming timesaving cashflow modelling tools as well as better integration of back-office functionality, a recent survey by VitalityInvest revealed¹.

We’re also seeing adviser technology evolve so that client reviews are becoming more interactive and user intuitive. Here are four ways that financial advisers and their clients are benefiting as a result.

1. Personalised reports

Through the use of interactive statements, it is now possible for advisers to individually tailor information to a client to paint a clear picture of their investments. By viewing the value of their plan, as well as charges and transaction history in a single session, details can be selected and displayed in a customised way as part of an online portfolio review.

2. Comprehensive information

This information can be used to easily explain to a client how their plans are performing. Time periods can be adjusted, and reports can be generated at the click of a mouse. This means advisers can efficiently review their client’s plan all in one place.

3. Fund performance review

Powered by Morningstar analytics, our interactive statements already allow financial advisers to dynamically review a client’s portfolio holdings. Soon they will also be able to show how individual funds have performed in monetary terms over a chosen period in relation to how much a client has invested.

4. Sharing it is easy

All of this can be shared easily with clients. At their fingertips, an adviser can create a fully branded report with their own logo and dedicated cover letter, which can be sent via email or post. These reports can be created on a mobile, desktop or tablet, depending on what works best. Simple as that.

Watch the video below.

Sources:
1. VitalityInvest research, 202 UK advisers surveyed in February 2021 by Opinium