Institutions coming around to innovation: adviser

A self-licensed adviser believes larger institutional licensees are coming around to adopting newer technology as a form of advice innovation, saying it’s not “a tsunami they can fight off forever”.

On the inaugural Adviser Innovation Podcast, Darren Johns, director of non-aligned advice firm Align Financial, spoke about institutional licensees historically holding back from adopting new technology in improving their engagement with clients.

“I think it is a challenge to meet compliance obligations and then, secondly, successfully integrate new pieces of technology which licensees may or may not understand,” Mr Johns said.

“They have to approve of it; whether or not they understand it is another thing.

“But I think if [institutions] continually [hold] back new pieces of technology, I really don't think it's a tsunami they can fight off forever.”

Mr Johns said larger institutions are now at least open to the idea of using newer technology, even if they’re not quite yet acting and implementing it.

Advertisement
Advertisement

“I think there's a growing awareness of what's out there and what else is happening, and that it doesn't necessarily have to be an either/or choice,” Mr Johns said.

“They can include some parts of newer technology and still meet all of their regulatory and statutory and shareholder commitments and obligations, which I think is a good thing for both the adviser and the client.”

Last year, Mr Johns was named the winner of AFA's Adviser of the Year award.

To listen to the full Adviser Innovation Podcast featuring Darren Johns, click here.

Institutions coming around to innovation: adviser
Innovation
ifa logo
Adrian Flores

Adrian Flores

Adrian Flores is a features editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

from the web

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.