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Tech knowledge crucial to adviser success

Advisers are being hit with plenty of buzzwords, but educating themselves about new technology will give them a competitive advantage, says Midwinter Financial Services.

In an email to stakeholders announcing the firm's decision to sponsor the inaugural Adviser Innovation 2015 event, the software provider said it understands some advisers may feel overwhelmed and even “scared” by the onslaught of headlines and information about financial technology.

“We are sure you have all heard the buzzwords – innovation, disruption, scaled advice, OBA, collaborative advice, cloud, fintech, digital advice, robo-advice - the list goes on and on and on,” the email from Midwinter said.

“Advisers may not be entirely sure of what they all mean, but one thing is for certain - the world of financial planning is changing and technology is the catalyst for this transformation.”

However, while some advisers may be apprehensive, there are real business opportunities in the emergence of new advice technology, Midwinter said.

“We want you to be feeling as excited as we are about how technology is currently shifting your sector in a way that will transform the way you deliver advice for the better,” it said.

“And we believe that the best way for this to happen is to give advisers the opportunity to be educated on adviser innovation, and how they can effectively employ technology to create business success in the ever-changing world of advice.


“It is for this reason that Midwinter has decided to sponsor [ifa publisher] Sterling Publishing’s Adviser Innovation event for 2015 as it is our genuine desire to see advisers armed with knowledge on what is becoming such an essential part of their industry.”