Recommended
Recommended
More Related Content
What's hot
What's hot (18)
Viewers also liked
Viewers also liked (19)
Similar to 'Change the game' conference june 2015 nick eatock
Similar to 'Change the game' conference june 2015 nick eatock (20)
Recently uploaded
Recently uploaded (20)
'Change the game' conference june 2015 nick eatock
- 1. © Copyright Intelliflo Ltd. ‘Change the game’ Conference NickEatock 4 June2015
- 2. 1950s – 1980s = Product-Centric 2 • In most markets there was more demand than supply • Poorly informed customers • Profitable growth was all about extending market share “Where there’s mystery, there’s margin!” Alan Sugar Focus on Product
- 3. 1990s+ = Customer-Centric 3 • More supply than demand • Better informed customers – internet • Wider distribution does not necessarily dictate higher profits “Get closer than ever to your customers.” Steve Jobs Focus on Client
- 4. Mission Statement 4 “To be Earth’s most customer-centric company…”
- 5. Populations/Users are changing 5 1,415 1,297 700 629 347 300 300 300 288 200 - 200 400 600 800 1,000 1,200 1,400 1,600 Facebook QQ/Wechat WhatsApp Qzone LinkedIn Skype Google+ Instagram Twitter Snapchat Social Network Users March 2015 (millions) Source: Statista 2015
- 9. Mobile Presence – which are you? 9 • 44% of companies have iPhone apps • 33% have Android apps • 26% have iPad apps • 22% still don’t have any kind of mobile presence Source: econsultancy 2013 • 10 connected devices owned by average UK family Source: Microsoft Research 2013
- 10. Preferred Channels for Banking 10
- 11. Direct v Digital importance for HNWI – by Functional Area 11
- 12. Client Evolution 12 Make it easy for clients to do business with you
- 13. Business Reimagined 13 Don’t confuse the value you provide with the way you provide it Source: Dave Coplin (Microsoft) and Adam Pisoni (Yammer)
- 14. Business Reimagined 14 Don’t confuse the value you provide with the way you provide it Source: Dave Coplin (Microsoft) and Adam Pisoni (Yammer)
- 15. • Supports Advice Process • Grow your business through cost-effective Campaign Management • Clients can complete Fact Find online • Automated alerts and insights • Budgeting & Goal Management via Optional Bank Account aggregation Personal Finance Portal: Adviser-Client Access 15 70,000+ clients in UK actively using this today
- 16. Client Access to Info on Medium and Long Term Money 19 Unique Aggregation to Pensions and Investments Valuations and Funds “Use Your Agency Number!” Uniquely Available through Advisers
- 17. Print & Post – an ROI study 20 • 100 active clients per adviser • Typical Adviser documents - annual Portfolio Statements, Report and Suitability, Fact Finds, Risk Questions, Service and Fee Agreements, Disclosure Documents • We analysed documents sent over 10 years of data • Sourced full costs for print from Hewlett Packard • Sourced postage costs from Royal Mail • What do clients do with these documents anyway? • ROI Result – between £1k - £10k per adviser pa saving
- 18. Data Protection 21 • Email or Post versus Secure Mail • Significant fines on firms not providing protection of data and information • 45% of all fraud in 2014 was identity fraud • 24% of UK citizens have been victim of identity fraud • Fact Find is the richest source of client information for identity theft • 5% of UK citizens are 100% confident that organisations they deal with treat their personal information securely Use Secure Mail to Address this
- 19. Fact Finding 22 • Tedious, embarrassing and expensive process • Use online Fact Finding to:- • Reduce Cost • Remove Embarrassment of client not knowing what they’ve got • Get better data • Keep data secure • Reduce time and cost of first appointment • Analyse new clients before first appointment • Allow you to have decent MI in your business
- 20. PFP Premium Short Term Cash - Aggregation 23 • Client gets visibility over ALL their portfolio - current and savings accounts, credit cards, loans, pensions, investments, assets, mortgages • Allows budgeting, goal and debt management • Provides real data for financial planning and cashflow modelling - making adviser’s job easier • Enhances relationship and service scope between client and adviser
- 21. PFP Premium Held Away Assets • Provides access to “held away” assets and portfolios you may not know about:- • Hargreaves Lansdown • Sharepeople • Stocktrade • TD Direct • Bestinvest • Cash / Savings / Other Pensions… • Circa 268 other providers And perhaps charge accordingly for advice on these assets?
- 22. • Provides automated alerts to client and adviser • Provides easy click through to start engagement • Goal management and progress • Significant changes in valuations • Fund Changes • Spending habits • Budget management • Debt management • Insights Alerts and Insights 25
- 23. PFP Premium Conference Special Offer 26 • Auto-register your Premium Clients • 20% saving off RRP indefinitely for licences registered by 31st August • Save £288 per annum for 100 clients • Visit the PFP Stand to apply
- 24. The Future Possibilities? 27 • Omni-channel Advice • Full, Simplified and Guided • Transactional via multiple platforms and providers • Financial Fitness and Healthcheck • Financial Education & Lifestages • People like You • Payment Collection • Lead Generation
- 25. Digital Advice – enhancing relationship 28 Every client wants some interaction face to face but No client wants everything face to face
- 26. 12 Months of new functionality… 29 New Workflow • Built on industry leader platform – Microsoft Windows Workflow • Comprehensive configuration capability allows users to define any workflow process – no code Document Designer • Sophisticated tool allows users to create templates (e.g. suitability) in Microsoft Word based on XPath open standard – no code • Huge breadth of fields and conditional logic Wealthlink • Tight Straight through Processing integration with key platforms in marketplace • Delivers operational efficiencies and accuracy • 4 live today – Zurich, Cofunds, 7IM and AXA • 3 further platforms currently in build
- 27. Best of Breed Integration Partners 30 Philosophy • Open not Closed • 100+ Approved Integration Partners • Third-party specialists provide best of breed capability in their field • Intelligent Office is the hub • Tight integrations provide real operational efficiency and best in class capability combined with flexibility of choice Recent Integration Partners • eValue Advisa Centa • FE Analytics • Voyant Cashflow • Distribution Technology Dynamic Planner
- 28. Results • Typical ROI of 100-300% and payback of 6-12 months • Adoption is everything Return on Investment 31
- 29. Community 32 Capability • Encourages sharing of knowledge and discussion across the community of all our users • Faster resolution • Immediate 24x7 updates on all cases raised Ideas • You raise ideas, the community votes, we build them • 43 major upgrades since we started in 2004 • Democratising Development – everyone can vote • Every quarter we will build a selection of the top voted ideas • “It’s your product”
Editor's Notes
- * PROPOSE NOT TO SPEND TOO MUCH TIME ON THIS SLIDE – SUFFICE IT TO SAY THAT THE GAME IS CHANGING
- 7 billion people on the planet 5.1 billion have mobile phones 4.2 billion have toothbrushes In 2014, there were 1.75bn global smartphone users. 75% up from 2012 Average person checks their phone 110 times a day!
- St Peter’s Square – 2005 = days following Pope John Paul II’s death (2 years before the iPhone was released) 2013 = arrival of Pope Francis I, *WE WILL DISSOLVE THROUGH FROM 2005 TO 2013 – SO BEST TO TALK THROUGH 2005 FIRST AND THEN REVEAL 2013
- St Peter’s Square – 2005 = days following Pope John Paul II’s death (2 years before the iPhone was released) 2013 = arrival of Pope Francis I, *WE WILL DISSOLVE THROUGH FROM 2005 TO 2013 – SO BEST TO TALK THROUGH 2005 FIRST AND THEN REVEAL 2013
- 25 connected devices by 2017 50 connected devices by 2022
- Gen Y = born in 1980s and 1990s = age 20-35 Gen X = born in early 60s to mid 70s = age 35-55 Baby Boomers = born post 1945 = age 55-70
- * PROPOSE TO RELATE BACK TO DAVID COPLIN’S PRESENTATION – HARNESS THE DIGITAL DELUGE, RISE UP AND TAKE CONTROL OF THE POTENTIAL THAT TECHNOLOGY OFFERS OUR SOCIETY. PUT TECHNOLOGY AT THE HEART OF YOUR BUSINESS – BUT USE THE RIGHT DIGITAL STRATEGY. IN OTHER WORDS…(Next slide ‘Make it easy for your clients to do business with you’)
- ‘The value Blockbuster offered was based on the fact that people wanted to watch movies at home. The way they offered that value – which was the best possible way in 1985 – was to have physical stores where you could rent VHS tapes. The whole company was organised around that way of delivering this specific value; people’s job descriptions were written based on parts of profit in that value chain. ‘As broadband internet became a part of our lives, customers wanted that value delivered in a different way. People wanted to download or stream movies because it was a better and easier way of watching movies at home. But Blockbuster was blind to this changing demand. They’d begun to confuse the value they provided with how they provided it. Because of that, they couldn’t adapt. ‘People often think businesses get disrupted because they don’t improve. But Blockbuster actually improved rapidly. They eliminated late fees, which was ground-breaking at the time. They expanded the potential for a home cinema experience by offering food. They came up with all sorts of ways to improve the value they offered. But none of it mattered, because they’d gotten it wrong. They weren’t actually improving the value that they truly offered: watching movies at home. They were improving a particular delivery mechanism for that value. They were improving a way of providing value. It wasn’t good enough.’
- *RECOMMEND A BUILD. TALK ABOUT BLOCKBUSTER FIRST – THEN NETFLIX
- NEED A STRONG LINK NOW INTO PFP (what does it all mean for us?) CLIENT PORTAL TECHNOLOGY
- NEED A STRONG LINK NOW INTO PFP (what does it all mean for us?) CLIENT PORTAL TECHNOLOGY
- *STRONG MESSAGE BUT DON’T NEED TO SPEND TOO LONG ON IT (KEY POINT IS YOU HAVE DONE RIGOROUS SURVEY AND ROI IS CONSIDERABLE)
- * IN THE DIGITAL SOCIETY, DATA PROTECTION IS CRUCIAL
- 90% of global data generated in last 2 years – 66% by consumers *KEY EXAMPLE OF HOW TECHNOLOGY CAN BE HARNESSED TO ‘MAKE IT EASY FOR CLIENTS TO DO BUSINESS WITH YOU’
- Yodlee 18m users worldwide, listed on Nasdaq
- Yodlee 18m users worldwide, listed on Nasdaq
- Platforum stats = 3.5m Purely DIY, 8.6m Mixture, 1.8m Purely Advised *’OMNI-CHANNEL – RELATE BACK TO DAVID COPIN PRESENTATION
- LAUREN – Workflow & Doc designer breakout link WENDA - Link to breakout Wealthlink ‘Change the Game’ – don't think about technology just as a back-end solution. Successful advice businesses integrate their businesses around technology rather than bolting technology ad hoc onto different aspects. By harnessing the power of connected technology. We want to help you put customer-centric technology at the heart of your business, to Manage Business Risks, Become Leaner & More Efficient and Build a More Profitable Business. Reinforce other key aspects of the day – Breakout sessions, exhibition, training clinics etc.
- MIKE – Link to operational efficient breakout
- HAMISH – Link to ROI breakout
- Ideas – you ‘Democratising development’ - built on iO’s new Communities feature. This is your product, you have a vote. We are here because of you etc.r product