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Greater adoption of ever-developing technology across the advice space has the potential to reduce client costs by up to a third in the next five years, delegates heard.
It is essential advisers implement a stringent data strategy which details the advice journey to ensure Consumer Duty compliance, delegates heard.
Most of the adviser platforms in the UK are “walking into oblivion” as they fail to adapt and improve in the face of evolving technology, according to Ian McKenna.
Diluting the perimeter between advice and guidance at this time will not only precipitate significant consumer harm but also undermine the UK’s position as a global advice tech leader.
At the recent Empowering Advice Through Technology conference six new systems were demonstrated or previewed to a live audience for the first time.