Ian McKenna, F&TRC

PFS Festival Radio

Martin talks to Ian McKenna about the Fintech Startup Cafe at the Festival of Financial Planning. A Financial Technology Evangelist, Futurologist and Singularitarian who is passionate about how technology can help people better understand their money and improve the quality of their lives. Ian believes there has never been a more exciting time to work in the personal finance market and that emerging technology can help advisers and other financial services businesses make a real difference to their clients financial health. He travels the world seeking out those firms that are transforming financial advice and guidance for consumers. Ian fervently believes that technology will democratise the advice process, expanding its reach from the 15% of the population serviced today, to enable the vast majority of the population to be able to access affordable advice on how to better manage their finances After 15 years working for insurers and financial advice businesses in 1995 Ian set up F&TRC, a specialist consultancy which focuses on the operational key issues around the distribution medium and long terms savings vehicles, other packaged financial products and the supporting technology. Having briefly worked as a personal finance journalist he continues to be a regular columnist for Money Marketing. F&TRC have recently launched to information services DigitalWealthInsights.com and AdviserForum.com. Specialities: The Future of Financial Advice. Operational issues within intermediated financial product distribution. E-Commerce in Financial Services. Supplier selection/Due Diligence on adviser software, restricted advice panels and platforms. Tuesday 18:40 - 19:10 The future of digital client engagement Digital Advice is increasingly enabling advice firms to work with clients in new ways. This can involve using technology to be able to service clients for whom traditional may no longer be economically viable in a post RDR environment, or to attract the next generation of customers who either prefer to communicate digitally or are do not yet need, nor can they afford face to face advice This session will consider the various options open to adviser firms when seeking a Digital Advice partner and the merits of different approaches it will explore; • How will your business benefit • How to drive new customers • Key questions to consider • How will the digital proposition align with your traditional advice offering • How to price your service • How will your digital advice solution interact with other technology in your business • Regulatory considerations Learning objectives The key issues to consider when deciding if you should add a digital advice element to your business Regulatory issues to be considered How to approach due diligence Commercial considerations relevant to digital advice