Cast your mind back to when shops first introduced self-checkouts. There was panic that this meant checkout employees would no longer be needed and that technology was taking over. Of course this didn’t happen and we now see self-checkouts and checkout employees in our shops. People are still needed alongside the technology and customers have a choice in how they would like to pay for their purchases.
A similar thing has happened in the financial services industry. We need to embrace technology to deliver better experiences for customers and brokers, but we don’t want to lose the personal touch with less human interaction.
Some brokers and advisers have been worried that technological developments can reduce the need for customers to seek financial advice. However, we believe that technology can’t replace relationships with customers. It can only improve it.
Given the nature of the purchases that customers are making (a property being likely to be the biggest they make in their life), customers need guidance and expertise. They need you – their financial adviser!
Technology should make advisers’ lives easier and streamline processes, not replace them. It should enhance the process and help advisers to deliver world-class service to their clients.
All brokers need to embrace technology and see it as an ally, not an enemy. Customers need to receive a high quality service and quick results, without there being any compromise on security and without brokers breaching regulation.
Technology will help you achieve all of this. Want to know more about how Toolbox can help your business? Get in touch to find out more.