FINANCIAL TECHNOLOGY
3 . Single data entry
Re-entering the same data on different systems is a massive headache for advisers . A staggering 98 % of advice firms say rekeying information multiple times during onboarding has led to mistakes in 20 % of client cases . A joined-up process , where single data entry accurately populates systems throughout the advice journey , will boost efficiency and reduce stress on the admin team .
4 . Integrated advice journey
In our research , 94 % of advisers believe their advice journeys could be more efficient , with lack of integrations a key issue . However , a straight-through process across the entire advice journey , from the initial fact-find through to investing and ongoing management , is now attainable with our latest wealthlink innovation . It puts the front end of a retail platform inside intelliflo office , so you can set up and maintain client investments without leaving the intelliflo office environment . The US launch of wealthlink saw submission errors fall from 50 % to 1 %, thanks to intelligent data collection and removal of paper forms .
At intelliflo , we continue to work on streamlining the advice process . Our powerful cloud-based business management solution , intelliflo office , sits at the heart of over 2,500 financial advisory firms . It offers an adaptable , scalable solution , digitised processes and a huge range of partner integrations to create efficiencies , support growth and encourage client engagement .
5 . Workflows to support accurate data
Making better use of data is vital to creating the personalised experience that clients value , helping drive engagement and retention . But when data is inaccurate or stored on different systems , it ’ s hard to extract insight or open it up via a secure client portal . Having workflows that encourage accurate first-time data entry and highlight missing information for advisers or clients to update , delivers efficiencies in the advice process and ensures planning is based on a full and accurate picture of the individual ’ s financial position .
6 . Appropriate artificial intelligence ( AI )
AI is becoming viewed as a transformative force , but while almost three-quarters ( 72 %) of advice firms want to integrate it into advice delivery , 95 % feel their business lacks the skills to do so . Tools need to be suitable for the highly regulated world in which we operate and carefully integrated into the financial advice workflow , so we ’ re adding a growing number of capabilities and solutions to intelliflo office and the intelliflo store to help you seize the opportunities AI offers .
Book a demo . Go to bit . ly / IOdemo to book your demo or email intelliflo @ simplybiz . co . uk .
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