Clients want fast, accessible, and personalised service

Tessa Lee, managing director at moneyinfo, recently shared her insights in an article featured on Professional Adviser. In it, she explores the challenges advisers face in meeting clients' digital expectations and how to overcome them. You can read the original article here.

Meeting the digital demands of today's clients can feel like a big challenge for advisers and wealth managers. Clients of all ages now expect high-quality, personalised digital service that's user-friendly and available 24/7 on any device. Research shows that more than half of high-net-worth investors want better digital services, and two-thirds would switch providers if they don't get it.

Yet many advisers still believe their clients, especially older ones, won't use technology. "That's simply outdated thinking," says Tessa. "At moneyinfo, our data shows clients of all ages are using digital tools to view portfolios and communicate, with mobile logins far outpacing desktop. Smartphones and tablets have become essential to the adviser-client relationship."

So, if clients aren't the barrier, what or who is? What are the roadblocks, and how can firms overcome them to get the most from their digital investment, driving client engagement and efficiency?

1. Resistance to change

Advisers themselves are often the biggest barrier to tech adoption. Many stick to traditional methods out of comfort or fear of new technology.

"It's understandable," says Tessa. "Successful client relationships have been built on face-to-face and paper-based communication. Switching to digital can feel like a big leap."

For some, the thought of navigating new tech is intimidating, especially if they don't consider themselves 'tech-savvy.' This creates resistance, even when digital tools could improve efficiency and client relationships.

Internal adoption is critical, but it's about more than training. Culture matters. "When leadership embraces digital transformation, it sets the tone for the entire firm," Tessa explains. Advisers also need to see personal benefits - whether that's efficiency, better client outcomes, or business growth.

The key is to make their lives easier. Small changes can have the biggest impact. "Simple tools, like a smartphone app giving advisers instant access to client portfolios, communications, and documents, can make all the difference in preparing for meetings or handling ad hoc queries smoothly," says Tessa.

2. The threat to client relationships

Advisers pride themselves on the personal relationships they build with clients and often worry that digital tools might depersonalise this. But technology isn't here to replace human interaction, it's here to enhance it.

By automating admin tasks during onboarding and reviews, digital tools free advisers to focus on what really matters: building stronger, more personal relationships through high-value work.

"With 24/7 access to real-time portfolio updates, reports, and plans, clients come to meetings more informed," Tessa explains. "Conversations become deeper and more productive. Tech doesn't distance clients - it strengthens loyalty by making interactions more meaningful."

3. Lack of momentum to keep data up to date

Poor data quality can undermine digital tools, creating operational challenges that discourage adoption. Traditionally, client data was only updated during annual reviews, when needed for reports.

But client-facing digital tools have changed the game. Now, there's a reason to keep data accurate year-round. "With more robust integration across platforms, the process is more automated and efficient than ever," says Tessa. Fintechs, platforms, and practice management systems are working together, supporting deeper integrations that help firms adopt the best tech solutions.

Good data is also the backbone of artificial intelligence (AI). "High-quality, clean, well-structured data unlocks AI's potential to enhance the personalised advisory experience, improve decision-making, and ensure compliance," Tessa adds.

Embrace change and lead the way

In today's digital age, clients' demands are clear. They want fast, accessible, and personalised service. Overcoming barriers like resistance to change, concerns over depersonalisation, and outdated data practices is key to achieving this.

By adopting simple tools and focusing on the tangible benefits of digital transformation, advisers can boost efficiency and client satisfaction. The future of financial advice lies in blending technology with the personal touch, and those who get this right will lead the way.

This article is shortened and adapted from an original piece by Tessa Lee, published on Professional Adviser. You can read the full original article here.