Multichannel financial advice and guidance
Modular technology for tomorrow's market
The financial planning sector needs innovation
Millions walk into an underfunded future because ongoing advice for the wider market is becoming unsustainable. Better outcomes need to become more affordable.
You can turn it all around with an experience that can retain many more customers for life. We call it multichannel.
Multichannel financial planning technology – what is it?
Multichannel technology interlocks the components of financial guidance and advice – combining everything into one compelling experience – including:
- Digital guidance
- Hybrid advice
- Traditional advice
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What it means for your customer
Your customer can access whatever support they need:
- At the point they need it
- In a way they can afford
- Using a single platform
What it means for you
Three new opportunities become possible:
- You can turn unengaged customers into loyal customers for life.
- Ongoing advice will be commercially sustainable
- You’ll be regulation-ready for tomorrow’s market
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Turn unengaged customers into loyal customers for life
You can now journey with more customers for life – offering a financial advice experience so compelling that they’ll never want to switch providers. Even when their circumstances change pre-retirement, at retirement or in retirement.
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Make ongoing advice commercially sustainable
Companies protest that ongoing financial advice will be unfeasible for customers with less than £100,000. You can make it possible - and evidence to the regulator you’re providing enough value for the rates you charge.
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Be regulation-ready for tomorrow’s market
With targeted support, there’s likely to be a blurred line between guidance and advice. Be prepared with the right technology so you can take more customers from guidance through to face-to-face advice – or a digital-hybrid solution.
This is a multi-lane road to more profitability
Multichannel makes your entire offering more efficient and scalable to a larger market.
For self-serving and adviser-assisted customers, algorithms will automatically:
- Work out customer affordability
- See which income strategy to use in decumulation
- Identify suitable products or funds
- Generate suitability reports and more
If a self-serving customer has further questions, they can:
- Run more calculations
- Ask for recommendations
- Get help from a voice-responsive avatar
- Speak to an adviser via the platform
Modular design lets you expand at the pace you want
We’ve built the underlying technology to make any financial guidance or advice combination possible – one that contains as much (or as little) human input as you want.
Once you see the efficiency that modules bring you, you’ll find it easier to scale up to a more ambitious system, seamlessly integrating each piece as you go.
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How the new customer experience works
Whether a customer is eligible for traditional advice now or in ten years, you can personalise their planning experience to create easy, lightbulb moments.
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The fastest stochastic technology on the market answers customer questions in seconds:
- What lifestyle can I get in retirement?
- How much do I need to save to meet my financial goals?
- How does investing compare to saving in cash?
- What happens if I delay saving?
- What happens if I start saving more now?
Live financial plans guide a customer from their very first question to the moment they achieve their goals:
- Show customers multiple ways to work towards the future they want
- Simplify their journey into steps with progress indicators and real-time feedback
- Nudge ongoing-advice customers if they go off track
One data structure makes everything consistent
A single data structure and single calculation engine across all channels ensures integration is easy and no one ever rekeys information.
So if they switch from digital guidance to financial advice and back again, the experience is seamless. No customer will get two different answers based on two different sources of truth.
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You’re in safe hands
As well as powering good guidance and advice for decades, we give advice ourselves via an authorised subsidiary. Over time we’ve refined how to deliver compliant financial advice via an algorithm, evidencing output to the regulator, including what wasn't advised and why.
We’ve enabled companies to fulfil FCA recommendations, like the Retirement Income Advice Thematic Review, before competitor firms. And we’re always looking out for what’s next.
Get in touch
Talk to us about what you’re building or the service you want to offer – and see how we can partner with you. Book time with one of our experts to discuss your requirements in depth.