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Mobile FS technology gaining ground

Sarah Davidson

October 11, 2012

New research from Avelo also found that 28% felt that although it will become an established method of sharing information, it will be limited to just that.

When asked the area in which mobile solutions most supported the adviser, just under half (44%) of the Avelo Exchange Portal advisers surveyed, responded that ability to access client information on the go was most of benefit, while just over one third (34%) admitted that mobile services allowed for greater efficiencies and one fifth (21%) of those surveyed stated that it encouraged greater engagement across their client base, young to old.

In contrast to this, more than half (52%) of Avelo Exchange Portal users surveyed have no plans to develop mobile solutions for their clients, despite increasing mobile usage.

Meanwhile, just over one fifth (22%) of advisers admitted that they did have plans to create a mobile offering but are yet to launch anything.

Paul Yates, strategy and product development director at Avelo, said: “Our research highlights that many advisers are at a crossroads when it comes to mobile technology. Mobile products will not be suitable for all customers but as a business, many advisers see “on the go” applications as giving them the edge by offering tools to share information with customers, in real time.

“The question for many has to be whether they can continue to offer high quality advice to their customers via mobile solutions, and whether the business benefit justifies the investment needed to get things off the ground.

“We expect mobile solutions to continue to rise in popularity as tablet and smartphone adoption increases but we do not believe it replaces the need for face time with an adviser. Access to tailored advice will always the crucial to make the investment and retirement planning decisions and it remains to be seen how much of this can be done at the touch of a button.”


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