Personalising the client experience is core to advice and building a strong relationship. However, this can be a difficult, time-consuming task, with the complexities of running a practice meaning advisers are not able to dedicate as much time to the small things that help build lasting partnerships with clients.
According to Netwealth, data-informed automations and touchpoints can help enhance this client experience, saving time for advisers without having to sacrifice client care.
Netwealth, through its Advicetech 2025: Turning data into growth report, has highlighted how, in general, top-performing firms are using data to inform all aspects of their business, stating that 63 per cent of high-performing firms are using a “connected data backbone”.
“From our research we are seeing several methods being adopted by firms to integrate their systems and data,” the report said.
“Many are using built‑in data feeds from/to their core systems. These are largely out of the box and require limited development effort.”
Speaking on a Netwealth webinar, head of technology solutions and consulting Sophie Firminger highlighted several ways this data can be integrated and used to personalise the client experience, such as using life events as “triggers” for client touchpoints.
“In this case, your client has just purchased a new home,” Firminger said.
“You can have a message of congratulations sent that also includes a tailored financial checklist and some strategies on mortgage offset accounts.”
Another example she gave was using a curated news feed that is informed by a client’s data, delivering them news that is specifically relevant to them and their strategies.
Referring back to the report, Netwealth also provided mass-segmented communication as a good use of this technology: “Emerging affluent clients receive app-based nudges about budgeting tools, while established mass clients receive printed retirement planning guides.”
Other examples include personalised nudges to review personal insurance coverage after a spike in discretionary spending is detected via open banking feeds, conversational AI and tailored educational content.
Even simple, automated personalised gestures such as a “happy birthday” message to clients can also enhance the experience.
Introducing this kind of data-informed automation and personalisation also means advisers are free to spend more time on what matters: advising clients.
“[Data] can elevate your client experiences, streamline your operations and drive growth,” Firminger said.
“I encourage you to consider how to better leverage your data.”
