This document outlines 7 ways that technology is transforming the financial advisory industry: 1) Tools and calculators are providing advisers more capabilities to serve clients, 2) An interconnected world allows efficient data sharing, 3) Social media is helping advisers connect with clients and promote their brand, 4) Remote working allows greater flexibility, 5) Online propositions expand client access, 6) Digital solutions provide 24/7 service, and 7) Personal data management gives clients a unified view of their finances and reduces re-entry of information. The document provides examples and statistics on each trend.

1. iress.com
The 7 Wonders of
Adviser Technology
Mark Loosmore - Executive General Manager Wealth (UK)
September 2015

2. 7 Wonders...
1
Tools & Calculators
2
Connected World
3
Social Media
4
Remote Working (Staff)
5
Remote Proposition
6
Digital World
7
Personal Data Mgt.

3. 1. Tools and Calculators
Advisers are seeking additional tools
to better service their pre-retiree/retiree
clients, most commonly seeking what-if
scenario and cashflow modelling tools.*
• Cashflow planning
• Portfolio management tools
• Risk profiling questionnaire
• Stochastic modelling
• Comparative quotations
82%
*‘Investment Trends May 2015 Adviser Technology report, based on a survey of 906 Financial Advisers

4. 1. Tools and Calculators
People are positive about the impact that
technology has on financial services.*
• Extension of service
• Consistency of advice
• Professional outputs - institutional for all
• Integrated solution - no need to re-key data
• Elimination of errors
63%
*IRESS Report, April 2015 ‘Data, disruption and the digital consumer’

5. 2. Connected World
Regulators
DFM
Distributers
Professional Bodies
Employers
Clients
IT SYSTEMS
Providers
Professional Adviser

6. 2. Connected World
Data is timely
and accurate
Efficient
Process
No
Re-keying
Auditable Secure Higher
Service Levels

7. 3. Social Media
Advisers say social media
has helped them gain
new clients
Putnam Investments - Dec 2014
63%
High Net Worth Individuals
(HNWI) use social media
and 61% use it for at least
one financial purpose*
70%
HNWI believe social media
is influential when forming
opinions about financial
services/products*
29%
53% of HNWI use social
media to keep up to date
with current financial trends*
53%
Half of the UK’s HNWI use
LinkedIn - more than any
other social platform*
50%
*Social Media London, March 2015

8. 3. Social Media
USERS ARE:
9,100
20% MALE
80% FEMALE
70MILLION
USERS
HAPPEN
EVERY
SECOND
289MILLION
ACTIVE USERS
1.5BILLION
ACTIVE USERS
USERS SHARE
1M
EVERY 20
MINUTES
LINKS
300MILLION
ACTIVE USERS
300MILLION
ACTIVE USERS
380MILLION
ACTIVE USERS
PICTURES
COMSUMERS
RELATE TO
ALLOWS FOR
BRANDS TO
BUILD CIRCLES
HANGOUTS &
PHOTOS
DISCOVERY MICRO BLOGGING SOCIAL SOCIAL SHARING SOCIAL NETWORK BUSINESS
FOCUSED
PINTEREST TWITTER FACEBOOK INSTAGRAM GOOGLE+ LINKEDIN
75%USERS ARE 35
OR OLDER15 SECOND
VIDEOS
BRANDS USE
HASTAGS
CORPORATE
BRANDS
CONNECTING

9. 3. Social Media
The number of financial advisers using social media
has quadrupled since 2012, according to data from
Financial Social Media UK. However, the Association
of Professional Advisers has estimated that half of
advisers still don’t use any social media at all.
• Client connectivity/reach
• Brand promotion
• Partnering and knowledge sharing

10. 4. Remote Working
• Cloud based
• Working from home
• Collaboration software

11. 4. Remote Working
The amount of people who work remotely is at its highest level since
records began in 1998, according to the Office of National Statistics:
• 13.9% of workers work remotely
• 4.2m work remotely in total - this figure has grown by 1.3m since
2008
• The proportion of workers who work remotely has grown by 2.8
percentage points. (realbusiness.co.uk).
New working
patterns
Time
saving/travel
Access to part
time workers
Employee
satisfaction

12. 5. Remote Proposition

13. 5. Remote Proposition
People now use online banking*
• Client engagement
• Geographical reach
• Client convenience
85%
IRESS Report, April 2015 ‘Data, disruption and the digital consumer’

14. 6. Digital World
Websites Private Portals Self Serve Robo Advice
(some assistance)
24/7
availability
Reach Convenience
Brand
exposure
Reduce cost
of servicing

15. 6. Digital World
• 1 in 5 people use peer review websites such as
Money Saving Expert before making big financial
commitments*
• 18% of people want fully integrated customer
service options across phone, online, social
media and text*
• 47% of people use their phone to get online
numerous times throughout the day*
* IRESS Report, April 2015 ‘Data, disruption and the digital consumer’

16. 7. Personal Data Management
At the start of
the public beta
65%
Estimate that ‘GOV.UK Verify’ can cover
approximately 80% of the UK adult population now
80%
Have plans to increase this to
90% by April 2016
90%
GOV.UK Verify Coverage
Start Now Planned
At the start of
the public beta
40%
The current
success rate
69%
Aiming to increase this to 90%
by April 2016
90%
GOV.UK Verify Success Rates
Start Now Planned

17. 7. Personal Data Management
Pensions Dashboard

18. 7. Personal Data Management
People said they would like the ability
to view their financial world - bank
accounts, mortgages, investments,
insurance - in one place*.
• Timely/accurate data
• Elimination of re-keying of data on a broader scale
• Process efficiency
• Know your client
23%
IRESS Report, April 2015 ‘Data, disruption and the digital consumer’

19. www.iress.co.uk/xplan
iress.com
@iressUK

20. Thank you
iress.com
Email: mark.loosmore@iress.co.uk
LinkedIn: https://uk.linkedin.com/pub/mark-loosmore/5/56a/461
Twitter: @mloosemore
Mark Loosmore