The SimplyBiz Group has reported an increase in adviser interest in offering digital solutions to their clients, alongside traditional face-to-face advice.
The group says this is evidenced by the take-up of the group’s ‘NextGen’ client website proposition. The sites, which provide firms with a website, with the option to add an array of interactive and transactional tools and services, have been adopted by over 400 member firms since their launch in January.
In addition to content produced centrally by the group, ‘SimplySites’ also offer a range of tools and systems from partners that enable clients to transact online when it may be uneconomical for either client or adviser to do so on a face to face basis. Partners include Mortgage Brain, Octopus Energy, Zurich, Intelliflo, Children’s ISA and The Source, Deposit Sense, Direct Life and Pension and Pension Monster.
Richard Ardron, SimplyBiz Group marketing director, said: “I feel the success of NextGen SimplySites gives a really clear picture of the position of many advisers regarding conducting transactions online. Whilst most advisers do not see a place for ‘robo-advice’, they do see an important role for digital services that can both complement their traditional advice models and offer clients a real choice at a time when these services are prevalent in day-to-day life.
“Since the implementation of the RDR, the adviser community has held concerns about the fact that young people, or those on lower incomes, would have less access to financial advice. There are also some transactions that do not need a fully advised service, as they are a straightforward presentation of the options, followed by a sale. Providing digital services for clients, or prospective clients, through a SimplySite means that advisers can spend more time on the areas of the advice process which are most valued by clients.
“I do not believe there is a service like this available elsewhere and the proposition will continue to develop as we add more features and functionality. We continue to work with firms to ensure we are able to offer additional digital tools that will benefit all advisory busineses, whilst not adding to the costs of the sites, which we build free of charge and offer at a low running cost.”