Round Up Autumn 2018

20 When new technologies make bold promises, how do you discern the hype from what’s commercially viable? And when, if ever will such claims pay off? Intermediaries and technology Gartner Hype Cycles provide a graphic representation of the maturity and adoption of technologies and applications, and how they are potentially relevant to solving real business problems and exploiting new opportunities. In my role, as head of business development, I’m often asked by intermediaries: ‘When is the right time to start investing in technology to assist in the advice process? ’ After 30 years in financial services, I’ve experienced many false dawns of the so called technology revolution. And, for the most part, I’ve found myself rapidly descending into the ‘trough of disillusionment’. Many of my employers have introduced technology led ‘improvements’, which have typically raised my blood pressure, created additional administration, and extended my working day. Data that cannot be queried, searched or relied upon without an intimate knowledge of how a system works isn’t useful to me. But, to be fair, most laptops, tablets, and until very recently back office systems, CRM systems, and platforms could also be thrown into this category. Is this about to change ? I think so… I believe we’re finally on the slope of enlightenment . If I’m right, software will begin to deliver improved client experiences, reduce costs, improve staff working environments, and deliver management information in real time that is clear, accurate, and usable. This will lead to quicker and better decision making in our businesses. At threesixty we’re working on extending our directory of systems and applications that might add value to your business. We’ll continue to add further solutions over the coming months. The following page provides a very quick summary of the solutions currently available. For each of these we’ve negotiated discounts for clients. Not every business needs to be, or indeed should be an ‘early adopter’ of technology. Move at your own pace. Your decision should depend on a variety of aspects including your business culture, target markets, and existing service proposition. But, don’t ignore it. When used appropriately, technology will deliver benefits to your business. It can make the seemingly impossible, possible. For example, there’s no reason why a single adviser cannot provide a first class service to 250-300 individual clients, with the help of the right technology. We’ll look to increasingly feature technology aspects of advice throughout the rest of the year and at our 2019 events. If you come across a solution that works and delivers real benefits to you and your firm, we’d love you to let us know. Email technology@threesixtyservices.co.uk Tony Bray Head of Business Development