Digitalization Accelerated by the Crisis
Driven by regulatory requirements and accelerated by the health crisis, numerous behavioral changes have been observed among French investors.
The crisis has been an undeniable accelerator of digitalization for independent financial advisors (IFAs), with clients convinced that adopting digital tools would facilitate communication and management of their wealth.
The ultimate mission of IFAs during Covid-19: support, reassure clients, and maintain business activity.
New Investor Expectations
With a pandemic that completely disrupted working habits, IFAs aim to strengthen and energize their relationships with clients. The figures reveal that:
- 43% of investors want to track their investments on their mobile devices
- 72% of investors want context to help them better understand and manage their investments
- 29% of millennials are ready to switch providers if services do not meet competitive standards
80% of investors consider real-time data to be a priority improvement for portfolio analysis.
The Goal of Digitalization
Investors primarily intend to use these digital tools to:
- Easily view the investment products and offerings proposed by their advisors
- Have a consolidated view of their portfolios
- Obtain help with understanding their savings in context
The goal of this digitalization is to support clients in their investment choices by providing them with the keys to understanding specific to their context, thus delivering a personalized client experience.
An Optimal User Experience
Facilitating collaboration and exchange between clients and their advisors on a digital platform is important to them. To ensure a good user experience, clients need a platform with an attractive design and a simple user journey to quickly find the right information at the right time.
“The crisis has reinforced the positive image of the IFA’s mission, likely serving as a revealing factor of the quality of their support, which only presents more advantages when digitalized.”
The EnvestBoard Solution
EnvestBoard supports IFAs with its analysis and comprehension tool to meet their current needs and adapt to a rapidly changing market.
EnvestBoard is a platform dedicated to investment funds. Through its unique technology, IFAs can strengthen their fund selection and portfolio construction, ensure compliance with regulatory obligations, while facilitating client advisory with comprehensive arguments and a unique digital experience.
Sources: Cardif Barometre marche CGP 2020, Refinitiv Wealth Digital April 2021