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Digital advice 'revolutionising' service provision

Online research provider Skaffold says "best of breed" financial advisers are incorporating digital advice technology into their businesses in order to stay “relevant” for their clients.

Speaking at the relaunch of Skaffold’s online researching tool, Skaffold founder Rodger Montgomery said advisers who embrace the use of technology will be able to build greater communication between themselves and their clients.

“Skaffold is really designed to be a platform for discussion – so if the client understands why an adviser is telling them to invest in a particular stock, it enables that discussion to occur in a way that actually enhances the reputation of the adviser,” Mr Montgomery said.

Skaffold also said there is a growing trend for technology taking off in a “rapid way”.

“Digital advice is revolutionising the way financial advisors deliver smart financial advice to everyday Australians,” a statement from Skaffold said. 

“Best-of-breed financial planning practices recognise how digital technology can enhance the services and advice they deliver to clients, in terms of rigour of research and enhancing client relationships.

“To remain relevant, leading financial planners are using technology to engage in relevant conversations with clients,” the statement said.

Skaffold chief executive Peter Simons added that the relaunch of Skaffold’s online research tool will provide advisers with fast access “to more information” than they could obtain from any other research tools.