The days when communication with a client was purely based on the paperwork they had received through the post or the occasional telephone conversation with their adviser is now largely in the past.
Of course these two particular forms of communication remain important to a solid ongoing relationship, but quite rightly, clients expect much more when receiving information about their investments.
In today’s world, virtually everything is available at the touch of a button. From the ability to video call your nearest and dearest who may live on the other side of the world, to accessing your bank account via your mobile; we live in a modern world, and clients expect nothing less from the technology their advisers and Discretionary Fund Managers provide.
This modern world has fundamentally changed how we interact with clients. Undoubtedly face-to-face meetings remain essential, but functional online access is now a minimum expectation. Indeed, it is not only a valuation clients are looking for when accessing their portfolios online. From up-to-date performance data to easily accessible documents; clients have an appetite and a need for information.
To provide longevity to the client, adviser and DFM relationship, clients must feel part of, and enjoy the investment journey. Whether it's a client who has their pension managed whilst in drawdown, or a client who is in the midst of accumulating their wealth; technology in part solidifies this relationship.
Regular communication with clients comes in many vital forms. However, with the role that technology plays in the majority of people's lives today, excellent online access cannot be ignored by either the adviser or DFM if they wish for clients to feel fully involved with their investments.