Advisers need to engage with technology
Financial advisers will be able to effectively target the millions of Australians not receiving financial advice if they engage actively with technology solutions and engage in speaking engagements on the public level, according to Sydney-based IT firm, YTML.
Speaking at the Association of Financial Advisers (AFA) conference in Canberra last week, YTML (Your Technology Made Lite) chief executive, Kevin Liao, said that planners could benefit from using technology tools to drive engagement across financial advice.
Liao said that close to 80 per cent of Australians do not currently access any form of financial advice, but that new industry technologies were focused on retaining the 20 per cent of active advice seekers, rather than engaging new clientele.
"While there are a number of fancy, cool, new technologies out there with robo-advice and digital advice, the reality is all these technologies are relatively passive."
For advisers to reach the 80 per cent of Australians without financial advice providers, partnering with technology firms or websites is likely to drive engagement, according to Liao, who said Search Engine Marketing designed to attract consumers to websites still counted as a passive use of technology.
Liao said specific technology tools in the robo space were key to advisers tapping into the market and driving the financial advice sector.
Liao also urged advisers to communicate with local groups including sports clubs or community groups to seek out potential new customers.
AUTHOR
Hope William-Smith
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
