The hybrid plannerThe do's and don'ts of digital

Chris Pitt

IRESS

Learning objectives

• Understand what digital means for today’s hybrid planner

• Learn why adopting a digital strategy can drive customer engagement and

enhance your proposition

• Become aware of common digital pitfalls

• Takeaway some tips to get your business on the right digital path

What is digital

• Any sales or advice process where the consumer serves themselves to

some extent

• It’s not about doing things better. It’s about doing better things!

Why all the fuss?

Reach newsegments

Enhanceservice

Reducecosts

Why all the fuss?

AUM

$10bn

$7bn

$10m

Customers

270,000

150,000

Total

Since 01/16

Per day

Why all the fuss?

“US clients would prefer to deal

with advisers via screen-share

than at face-to-face meetings”MoneyGuide Pro

Why all the fuss?

“Transformative in terms

of the costs of advice”

Some examples 1-2

Some examples 2-2

Hello, what are you saving for?

Plum is your personal savings

assistant - it lives in Facebook

Messenger, monitors your daily

spending and automagically sets

money aside for you. Because

saying “#yolo” is a bit too

tempting sometimes.

A stampede?

More new start-up platforms

Investment Managers, Life Co’s & Banks

Egged on by the regulator

• FAMR

• Advice definition

• Pension dashboard

• PSD II

• Project innovate

• Sandbox

• Advice unit

• Market reviews

What approach should you take?

• Think strategically

• Define your customer proposition

• Design your delivery process

• Aim to automate your back-office

• Aim to enable your front-office with the RIGHT technology

• Create a roadmap and stick to it

Where should you start?

Talk to your clients and segment

Understand:

• GDPR

• MIFID 2

• PSD 2

Separate developments that will

• Streamline / automate

your back office

• Enhance client

engagement

3 Things that should

be on your roadmap

Clientportal

Digitalsignatures

Screensharing

1 2 3

3 Things that might

need more thought

Fully automatedrobo-advice

PFM(Client data

aggregation)

Pensiondashboard

1 2 3

In summary

• Think strategically

• Use technology to underpin (not undermine) your proposition

• Digital is a journey not a destination

• Create a roadmap and keep reviewing it

Above all…

…do something,your clients

are changing!

Learning outcomes

• Understand what it really means to be digital for today’s hybrid planner

• Have learned why adopting a digital strategy can drive customer

engagement and how it can enhance your client service proposition

• Become aware of common pitfalls and misconceptions when embarking on

a digital journey

• Have been provided with some useful tips to get your advisory firm on the

right digital path