09/20/2012 (press release: press-releases) // United Kingdom // CAPITA
Finance software, aimed at making the work of independent financial advisors (IFA) both simpler and quicker is improving customer confidence in the industry.
IFA software is continuing to improve the service offering of advisors because it allows them to assess many more financial products than would be possible without it.
As advisors are able to be more reactive to the individual priorities and needs of clients, so the customers’ gain more confidence in the service offered.
The financial sector’s authority and reputation has suffered in recent years, following the well documented mis-selling of payment protection insurance (PPI) by banks and others.
Selecting the tools that assist those working in the industry, like finance software, has demonstrated to a growing number of clients that the industry has moved on.
Being able to access a huge database of products has allowed more and more customers to feel confident that their advisor is not trying to push a particular product, but truly assessing a changing market place to find the right package.
Knowing that an advisor has to make a living means that clients need to be aware the advice they are given has been made only following a thorough assessment of the financial sector and the selection of only the most suitable products
In addition to the benefit of a wider research resource, IFA software allows advisors to go through consultations more quickly.
Dramatic reductions in the time taken to consult with clients are possible, without having to compromise on the quality of service.
Clients rightly turn to IFA’s for their expertise and experience, so increasingly demand that consultations don’t infringe on their professional or family life.
After all, when so much of modern life is given over to web based transactions, like on-line shopping or personal banking, why should financial advice be any different?
Comparison software applications allow advisors to rapidly alter elements, like a charging scenario or the term of an investment, even as a consultation progresses.
Hassle free consultations that do not drag on are more likely to result in customers recommending the services of an advisor to friends and family.
In a busy and ever changing market place, IFA software can give an advisor a competitive edge.
Indeed some in the industry now state think that advisors who do not invest in finance software will simply get left behind.
Web based software packages have the additional benefit that data is stored as it is uploaded, meaning that problems caused by data loss are mitigated.
Loss of data is a nightmare scenario for an IFA’s business continuity and can result from human error with a paper system or a local hard drive failure.
Web based software applications can hold data securely, without the advisor having to consider backing up their own records, should the worst happen.
With the twin benefits of consumer confidence and time saving, that customers can easily appreciate, and data storage, that advisors should at least consider, software systems in the sector look set to grow.
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