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Tech Survey Shows Adviser Business Attitudes

This survey of adviser tech attitudes is worth a read. It highlights several key points: 

  • Technology spending is very low in most adviser businesses - that suggests low productivity growth for the next few years, as an awful lot of productivity gains come from employing technology these days, and it takes time to realise them. 
  • Technology spending is still more likely to be about hardware than software or services. That is also a worry, because it is in software and services that most productivity gains are to be found, including the gains from new hardware. 

Work-arounds exist. Dealer groups can provide effective channels for delivery of large-scale IT services to the many small advice businesses that exist. Insurers and other larger companies in the wider sector value-chain can deliver services. Third-parties can provides software as a service to make a seemingly large purchase become a small regular payment. 

Read the full survey at this link. Hat tip to Tony Vidler for highlighting this link.  

 

Comments

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TuesdaySue

Good insights Russell, thanks for sharing.

There are so many software options appearing all the time vying for an adviser business' consideration. Add to that how time-consuming it can be to introduce new tech to a business... I'm not surprised that little happens.

I'd be interested to hear your top picks for the software that advisers should be considering.

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