Traditionally financial advice has always been fundamentally rooted in the concept of a physical meeting and presentation, however the concept of a “virtual adviser” has been growing globally as technology continues to improve. That was the case until recently, COVID-19 has since forced businesses to adapt to this idea during the pandemic and implement a virtual service to provide their clients with advice. Here at Superannuation Advice Australia since the business’s original implementation, we have always aimed to work with our clients digitally. This can sometimes be seen as unconventional, but in the grand scheme of things we are always aiming to work ahead of our competitors.
There are a variety of key benefits to a virtual adviser; beginning with the cost benefits when it comes to fees, the flexibility it provides when making bookings and the availability for your financial adviser to be just a phone call away when you need them most. The most important avenue that digital advice opens is the ability to help a wider array of clients. No longer are you restricted to your local area when providing financial advice, you can extend your market nationally and it allows you the ability to service and support more Australian people.
The ability to market nationally and open your audience also allows for more competition when it comes to other financial advisers. This means that client focus is of utmost importance and the choice of the adviser solely relies on the client as they have the freedom to pick the adviser that best suits their needs.
Looking ahead to the future, COVID-19 could potentially be the catalyst for change that the financial advice industry has been waiting to see, with the integration of more and more advisers opting to service their clients digitally. Only time will tell however, but the future is digital.
- Cameron James.