28 July 2020
•
A survey of Quilter's national advice business has found that 88% of advisers would continue to provide some form of remote advice option as the indusry begins to progress out of lockdown.
Financial advisers have said that they are keen to retain the ability to keep remote advice through video technology, according to a a survey of around 300 of Quilter's advisers.
Video conferencing has not hindered advisers gaining new clients, the survey found, with 77% of advisers saying they have gained some during the period.
However, there is an understanding that the way advice is delivered is changing with around half (48%) of new clients reacting differently to video advice. As a result the introduction of the new technologies have led 56% of advisers to structure their meetings differently.
Video advice
Sarah Waring, client and proposition director for Quilter's national advice business: "At the beginning of 2020 no one would have anticipated that just a few months later we'd be giving the majority of our advice through video due to a global pandemic. However, the industry has shown, yet again, that it can adapt.
"What's more as we move into our ‘new normal' we need to think about what practices from lockdown we want to keep. Encouragingly, advisers and clients have been receptive to video conferencing. This can go a long way to increasing adviser's capacity to take on more clients as there will be less time spent travelling to and from meetings.
Waring said that using screeens means that it inevitably harder to engender trust and it is now "vitally important" for advisers to have structured meetings.
"We have found advisers who create a clear framework for the meeting and communicate it at the beginning help to increase their client's understanding and trust."
Subscribe to International Investment's free, twice-daily, newsletter
