According to the IFA portal, in a market becoming ever more competitive in which advisers are using whatever means they can to gain a competitive edge, those serious about forming and maintaining valuable relationships with clients should not underestimate the importance of integrating technology within their business.
The research, part of the Sesame IFA Barometer, found that more than three quarters of advisers (77%) believed that good technology helped to create a better business image. Only eight per cent did not feel that technology played a part in the way that IFA businesses were perceived.
Assureweb director of strategy Stephen Wynne-Jones said that in a market where many advisers are having to re-examine their business models to ensure their long-term profitability, and in many cases survival, technology is a key ingredient in the formula for success.
"Like it or not, image counts and savvy advisers should be ensuring they are ahead of the game through creating as positive an image of their business as possible.
"People like to feel their money is in safe hands and furthermore at the hands of an adviser who is up with the latest trends, whether they are new financial products, the needs of their clients or technical advances.
"Clearly those advisers that are ensuring their business has the highest possible standard of technology, from back office systems, to portals and training will reap the rewards down the track," Mr Wynne-Jones said.
He said that in an environment where consumers are more financially and technology savvy than ever before advisers need to demonstrate that they are up with the latest technical trends and speak the same language as their more technically astute clients.
Mr Wynne-Jones said that advisers are embracing technology and using it to their advantage and are naturally impressed with the positive impact good technology can have on their businesses.
The study also found that advisers are unanimous in their feelings for technology with more than three quarters (79%) saying that an overhaul of back office administration systems will be necessary in the next five years.
A third (33%) of those surveyed said good technology gave customers reassurance and helped to promote a stronger business image.
