Financial Planning

Scalable advice solution introduced

digital financial advice

Practitioners have been provided with a new digital advice solution aimed at helping them retain and service clients who do not require comprehensive financial advice.

A low-cost digital solution has been launched to provide practitioners with a cost-effective solution allowing them to service clients who do not need comprehensive financial advice.

The facility has been launched by financial services provider Scientiam as part of its intergenerational advice proposition.

“Many advisers are grappling with how to profitably service segments of their client base and beyond that segments of the market that need advice but are currently missing out because they’re too young, don’t have enough to invest or have relatively simple needs,” Scientiam founder Nigel Baker said.

“Everyone who is interested in building and protecting their wealth, and planning for the future, should have access to quality advice. It should not just be something that’s restricted to the lucky few who can afford it.”

According to Baker, access to a facility like the Scientiam one will mean advisers will no longer have to jettison C and D, or low-touch, clients considered too costly to service.

“As advisers, we want to help people, but unfortunately that is getting harder to do due to rising costs. This is a sad reality because some clients have been loyal for 10 to 20 years, but, over time, they no longer fit a firm’s ideal client profile,” he said.

“With Scientiam, advisers can stay in touch with clients, deliver a compelling service and an excellent experience, but not at a financial or opportunity cost to the business. Scientiam releases advisers to focus on servicing higher fee-paying clients with complex needs.”

The new digital advice service is being provided on a subscription basis accessible through financial advisers.

The facility is progressive in its philosophy and is aimed at educating users and that will see it act as an ‘incubator’ for the referring adviser.

To this end, the service has been designed to guide individuals toward seeking comprehensive, personal financial advice as their life circumstances change.

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital