Can’t beat ‘em? Join them. The best automation and digital tools for advisers in 2023


By Taras Rybak

            “Will Artificial Intelligence replace financial advisers?”

            “The Coming Democratisation Of Financial Services, Thanks To Artificial Intelligence” 

            “Why ChatGPT spells doom for the Financial Advice industry” 

You will have seen similar headlines and articles over the last few months, and you’d be right in thinking they are largely hyperbole. 

Considering issues around compliance, the essential personable touch required and security, we’re a long way off being replaced by AI robo-advisers.

That isn’t your cue to kick back and relax, however. 

As consumer expectation for a digitised experience will continue to grow throughout 2023, ensuring your firm keeps with the times will be essential in satisfying clients.

That means adopting the right tools and powerful automation. 

Of course, your advice will still depend heavily on traditional elements advisers have always leant on when delivering a satisfying service. 

But advisers must also embrace the digital tools that can help increase efficiency and satisfy the digital needs of modern clients. 

But what are these tools? 

How can I ensure smooth implementation once I’ve chosen them? 

Employing the use of electronic signature software, the right client portal and meeting software will provide a solid base. 

Better still, effective consideration will set you up well for success.

This blog will detail the benefits of these tools, and tell you the right steps necessary to ensure a positive implementation process.

We’ll also discuss how you can bring each one of these tools together under one technological roof. 

For now though, let’s take a look at the tools you’ll need to ensure advisory success in 2023. 


Electronic Signature Software

You might be inclined to look back at the days of printing, faxing and scanning with a level of nostalgia, but these times are long gone. 

With electronic signature software, they won’t be returning either.

Electronic signature software allows the user to sign and send documents with a few clicks of a button. 

This not only saves you time and effort but also provides a more efficient and secure experience for your clients.

One of the biggest benefits of electronic signature software is the improved data security it offers. 

Electronic signature software eliminates the risks associated with physically storing sensitive documents. 

With electronic signatures, all of your client information is securely stored in the cloud, accessible only to authorised personnel. This provides a greater peace of mind for both you and your clients, and helps to build trust in your business.

Another key advantage of electronic signature software is the convenience it provides. No more printing and mailing documents, or worrying about lost or damaged paperwork.

Your clients can sign and send documents from anywhere, at any time, using their computer or mobile device. This not only makes the process faster and more efficient, but it also enhances your clients’ experience by allowing them to take control of the process.

Not all electronic signature software is created equal, however. 

The right software should assimilate well into your existing technology stack, and ensure that it’s accessible and easy to use for support staff and clients alike. 

Consider these factors carefully before choosing the right signature software for your firm.


The right client portal 

A client portal should act as a secure online platform that provides clients with access to their financial information and enables them to interact with their financial adviser in a meaningful and efficient manner.

The right client portal should enable advisers to keep their clients updated on their progress, provide them with news and insights, and answer any questions they may have that can’t wait for the next face-to-face meeting.

Providing clients with access to their financial information through a secure online platform, makes it easier for clients to access their information whenever they need it.

 This reduces the need for clients to make phone calls or send emails to their financial adviser to get the information they need, boosting the client experience by dramatically increasing convenience for adviser and client alike. 

Giving clients easier and more efficient access to their financial information, and enabling them to better communicate with their financial advisers, means clients feel more in control of their financial situation and more confident in their investments. 

The right client portal will allow financial advisers to provide a more personalised and engaging experience for their clients. 

It is a powerful tool that can help financial advisers improve their clients' experience and enhance their overall service, leading to a stronger, more transparent adviser-client relationship, improving the clients experience and enhancing an adviser’s overall service.


Meeting Software

The obvious one…

If the last few years have demonstrated anything, it's that elements of a remote service, legacies of the pandemic, are here to stay in the financial advice industry.

With 74% of advisers expecting virtual meetings to remain a part of their service in the coming years, most advisers will not be turning back to full in-person meetings anytime soon. 

This doesn’t have to be to the detriment of your clients’ experience either, 73% of clients admit that they are happy to take some advice remotely. But to ensure success, your firm must embrace the meeting software that can ensure success. 

The right software will dramatically increase firm efficiency. No longer will you have to spend unnecessary resources travelling to and from a client meeting that required a few simple yes/no answers to simple questions. 

The benefits don’t just stop with the adviser. Online meeting software will also improve the client experience when employed correctly.

With virtual meetings, clients can easily access your services from the convenience of their own home or office. 

They no longer have to take time off work or re-arrange/work around plans to attend meetings. This not only makes their experience more convenient but also helps to build trust and rapport with them and your firm.

Online meeting software can also be a powerful tool for building your brand. 

With features such as screen sharing, video conferencing, and recording capabilities, you can create engaging, professional presentations that showcase your expertise and value to your clients.


Choosing the right tool, and ensuring a swift implementation 

Financial advising is a complex and constantly evolving field, and as we’ve already discussed, the right digital tools can help you stay ahead of the curve, streamline processes, and improve the client experience. 

But with so many options available, it can be difficult to know where to start. To help you navigate this process and ensure that the digital tools you choose work seamlessly with your business, let's explore the key steps you need to take.

First and foremost, it's important to understand what you hope to achieve. Take a step back and identify the pain points in your current processes. What kind of technology could help you overcome these challenges? 

By having a clear understanding of your needs, you can more easily determine which tools are best suited to your business.

Ease of use is a critical factor to consider. The best technology in the world is of no use if your team can't use it effectively. When selecting tools, prioritise ease of use and clear, intuitive interfaces. And don't forget to provide training and support for your team to ensure they feel confident and comfortable using the tools.

One of the biggest benefits of digital tools is the ability to integrate data from multiple sources. When choosing tools, consider those that can be linked to your CRM, calendar software, and other systems. This integration can help minimise data entry and improve accuracy.

As you start using new tools, it's important to monitor their effectiveness.

Ensure the use of sufficient analytics to track their performance and gather feedback from your team and clients to identify areas for improvement. And if the tools you've chosen aren't delivering the results you need, don't hesitate to make adjustments or switch to a different option.

By taking these steps and choosing the right digital tools, you can streamline processes, improve your clients' experience, and stay focused on delivering the best possible advice.

Investing in the right technology can help you work smarter, not harder, and stay ahead of the curve in an ever-evolving field.


JustFA, every function you need for hybrid advice

Want one tool that can bring all of the above together under one roof? 

JustFA matches client engagement technology with tools that can dramatically reduce onboard and admin time. 

With the JustFA platform, clients have a fully developed portal of their own, where they can input their personal details, speak to their adviser via in-built message, call or video function, upload and sign documents, set up goals, review and sign documents, and access account valuations.

Our intuitive and easy-to-use platform brings a client portal, client communication tools and a fully compliant documentation and signature system together, providing your clients with a fully remote advice proposition that doesn’t compromise the quality of your service. 

The result? 

For advisers, it’s an increase in efficiency and a more effective service, for clients it’s a more engaging, satisfying remote advice experience. 

So, is it time to embrace technology, boost client capacity and increase your client profitability? Book a demo here and add value to your IFA business today.


Log in Log in as an adviser Log in as a client