Expert: Andrew Back, Chief Commercial Office, Facilitator: Paul Miles, Silverback Consultancy
CREATING A UNIQUE PROPOSITION THAT PUTS ADVISERS IN THE DRIVING SEAT AND EMPOWERS YOU TO TRULY OWN YOUR CLIENT RELATIONSHIPS
Headlines
Why would you want to take control?
- Operational efficiency
- Control customer engagement more fully
- Customised client reporting
- Pricing
BUT, why wouldn’t you want to take control?
- CASS
- Regulatory updates
- Technical / SME queries
Maybe there is a ‘hybrid’ version where you control the non-core activitiesIs the financial advisory market merging with the private client market?
Platforms taking a modular approach allows firms to have a unique proposition.
Should firms be looking to move from Retail to a more Institutional platforms to offer an enhanced customer experience?
Existing platform market is offering a poor service.
Key Challenges
Migration of clients – it was recognised that this would be an issue.
Cost involved in implementation of new platform.
Which platform to chooseIntegration with other technology.
Conclusions/Solutions
Institutional platforms should be part of any due diligence process.
Platform control comes with regulatory and process risk.
To switch platform would be painful and would need to be project managed.
