The Digital Revolution of your IFA – What do we mean by Digital Revolution?

Technology has rapidly evolved to become the main driver in our lives, both in a work setting and in our free time. Recent years have seen technology evolve to a point where many organisations would have no chance of survival without it – this evolution has made different ways of working possible for businesses, no matter their size.

It has been far from easy for businesses all over the globe during the last few months – but one thing these uncertain times have enlightened them to is the power and influence technology can have on the way they conduct business.


What do we mean by Digital Revolution?

A Digital Revolution involves a Digital Transformation. A Digital Transformation is the process of choosing the correct digital technology for your organisation and adopting it successfully – it should remove manual process wherever possible, transform services, and replace older – no longer capable or efficient – tech.

A Digital Transformation takes preparation! Don’t just dive in head first, but take your time weighing up the potential impact on your business and team – both operationally and legally. This being said, not having one at all could be disastrous for your business – the service you offer your customers won’t be of the same quality as your digitally advanced competitors, your team may not be able to guarantee a good quality of service, and the general running of your business will suffer – all, in turn, effecting the amount of profit you are realising.

The first step to a successful Digital Transformation is to break down and study your own organisation – you need to know what you and others in your industry are facing every day, and what challenges you are facing? What would make your – and your team’s – work life easier and more productive? This process will allow you to choose the best digital solutions for you, rather than just the most popular options.


The daily challenges of an Independent Financial Advisor

Client contact

A financial advisor – as you already know – must be in constant contact with their clients, but it is surprising how many fail in this respect when things are looking good, as most only communicate when there is a problem. Positive relationships with clients are essential in every job role in every industry, but in this particular role, a solid relationship with clients is a necessity – regardless of the current market climate. Financial advisors need to take advantage of the various instant messaging apps on the market that will allow them to have 24-hour contact with their clientele from anywhere in the globe – you will have heard of Microsoft Teams as one of the most popular – and capable – options available today.


The ability to emotionally relate

Financial advisors are traditionally very rational, analytically minded people that predominantly think with logic in mind and not emotion. Don’t get me wrong – I am not saying this is a bad thing, as being analytical is a very important trait – but many client decisions are made based on emotions. Therefore, advisors need to be able to do both, in order that they can be analytical and level with their clientele on an emotional plain in order for the working relationship to thrive.


The threat of a loss of work to tech-savvy competitors

You may be one of the best Financial Advisors in the business, you may have years of experience, and you may have run a successful practice for years, or perhaps even decades, but if you don’t move with the times you are likely to lose your clients. With clients being as fickle as they are in the modern age it would be easy for them to go elsewhere at a moment’s notice. You need to have the best technological measures in place to rival your competition at every turn – if they are offering something you aren’t then you are already behind.


Regulatory and compliance obligations

Every industry has different regulatory bodies whose procedures they are lawfully required to adhere to, and the financial sector is no different. It is imperative that you have the tools in place to guarantee compliance or else face potentially business-defining legal ramifications.

In previous years, understandably, financial advisors were nervous about the role that technology would take in their sector, the rumours around ‘robot-advisors’ were strong, and this caused many to avoid it altogether. Now, years later, we know that what was once a threat has the potential to be an ally in the quest to offer a professional improved service for your clients.

In the following article we will explore the benefits of a Digital Transformation in your organisation and look at some of the options that are available to make it a reality.


A smooth transformation for your organisation

Our team of experts will assist you in adopting the right tools for your HR Agency. We will implement and maintain the tools to guarantee the advanced levels of data security, communication, and efficiency necessary within your business to be successful. Security is not a luxury but an essential part of protecting any business in the digital age – this is why we take a security-first approach, and it is this, along with our expertise in modern interactive tools, which allows us to make a guarantee to you that your communication and levels of efficiency will increase, in turn allowing you and your team to be more productive

We go above and beyond in helping our clients and their teams get much more value from their technology by providing knowledge and training whenever needed and will educate your employees to ensure they are capable of applying their best efforts to guarantee the security and success of your organisation. We guarantee that our clients always come first, with a straightforward approach that reinforces a strong relationship between our team and yours. Contact us now and find out how we can help your business go into the future with a capable team and the correct tools.