Gemma Brazier, FPFS, Propositions Manager (Advisers), joins me for a quick chat about what we expect to see from the EV Advice channel over the next 12 months.
What's 2023 looking like for your channel?
It is set to be another exciting year for our suite of adviser tools, EVPro. We have a full roadmap of engaging product enhancements on the horizon, helping to drive efficiency for advisers and to help them deliver even more value to their clients.
What exciting new developments are you working on or have on the roadmap?
From speaking to advisers, it has become clear that they are looking for more digestible ways of explaining complex financial outcomes to their clients. Therefore we will soon expand our modelling capabilities with clear outputs that make the information easier to explain and ensure all advisers are catered for.
We are also working on some other developments to improve data flow, and user experience and are exploring how to help advisers find funds more quickly that meet their clients' objectives, investment terms, and risk levels.
What future changes will customers likely want that our technology can provide?
Advisers have requested the ability to model "what if I die" scenarios, which we will consider for future EVPro development.
What new or existing challenges do our customers want to focus on?
Integration, integration, integration. We have already established a number of value-add integrations. However, advisers would also like suitability reports built into the planning process.
Are there any market trends our audiences need to be aware of?
Consumers and businesses are trying to navigate the ongoing inflationary environment. With price inflation impacting individuals' plans, access to financial advice is more important than ever. Touching on regulation, the FCA's Consumer Duty requirement to avoid foreseeable harm places a greater emphasis on financial advice compliance. As a result, firms embracing technology, which enables advisers to create realistic financial plans and monitor the adequacy of existing plans, will be key.
This brings me to the end of my Q&A with Gemma, and I would like to thank her for her time today. There is a lot to look forward to during 2023.
A quick recap
2023 is shaping up to be an exciting year for the EV Advice channel, with a full roadmap of engaging product enhancements on the horizon to help drive efficiency for advisers and deliver more value to their clients. The tools will undergo an expansion of modelling capabilities to make it easier for advisers to explain complex financial outcomes to their clients and improve the flow and user experience.
With the ongoing inflationary environment and increased focus on financial advice compliance, technology will be crucial in helping advisers navigate these challenges and provide the best service to their clients.
As our readers, what's next for you?
Our EVPro software has been designed with the best consumer outcomes in mind and to deliver consistency to your advice journey from start to finish, negating the need to integrate multiple third-party tools. Please read more about EVPro here, and get in touch with us to arrange a demo by clicking the link below.
