BLOG- Tomorrows World, can we predict technological advances?

Thu 29th Mar, 2018 - 2:17 pm - 0 Comments

This week, in order to fulfil some of my ‘CPD’ obligations, I attended a workshop in Leicester. This felt like an achievement in itself after being snowed in the last time I had one to go to!  The workshop covered several interesting areas tied in under the banner ‘Are you ready for the challenges ahead?’

The final session of the day looked at how technology may change the advice industry in the future. I have worked at T&R for 15 years and over that time the way we work has changed radically.  No one operates a paper diary system, paper files are (nearly) a thing of the past, and the amount of post we receive is a mere fraction of the amount it was, all as a result of technological advancements in what is really a relatively short time frame.

Where will be in 15 years from now? I’ve no idea! Anyone who remembers Tomorrows World will recall how many of the predictions came to fruition.  What I do know is that we need solutions to ‘the advice gap’.  Good quality independent financial advice comes at a price which can be a real barrier in some circumstances.  People need advice at all stages of their financial life, not just once they have built wealth.   Could technology help bring costs down and make advice more main stream?  We can already communicate with clients face to face remotely which saves time and travel costs.  We also offer a simplified advice service that can offer financial advice via an online portal through our one+one service.

I don’t know what the next innovation will be, but anything that can help us work smarter not harder and open up access to financial advice has got to be positive.   So, whether it’s one app to manage all your finances, notes and coins being surplus to requirements, or a computer providing advice, I’m keeping an open mind and moving with the times!


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