The Wealth Management of the Future Roundtable

Using technology to bridge the knowledge gap for clients

Nov 20, 2013 @ 12:00 am

Runtime: 4:09

Doreen Griffith of Securities America on how technology can be a tool for communicating clearly and succinctly with clients so they can maximize their understanding of an adviserís financial guidance.

Video Transcript

The name of the game is to provide advisers tools that allow them to provide the trusted relationship and advice to their clients. I feel that technology helps advisers bridge that gap of knowledge. Many times you have clients that get it. You know, they know what the client-- they know what the adviser is stating. You have-- You have many clients that aren't necessarily as versed in their portfolio and I feel that technology provides that way in which the adviser can bridge that communication, or education, or what have you to communicate clearly and succinctly to the client because that's truly the name of the game, to provide the client the best possible understanding of what the adviser is wishing for them to do. Communication today is totally different than the way it was even five years ago. I think a lot of that has to do with the way that consumerization of technology has undergone. For instance, you know, five years ago, I don't think many of us walked around with iPads, let alone iPhones. You didn't see the baby boomers or the mature individuals walking around with any technology device and I think it's because the products are cheaper. They're less expensive. They're easy to use. So, quite honestly, the device and the convenience of the device has changed the way in which we communicate. Many say and I'm a believer that e-mail will go by the way side. Texting will be the way which we choose to communicate. Phone calls, I mean, we've seen it today with our children whether as soon as they can figure how to use the phone, they'd rather text you than talk with you and I think that's going continue because that makes it more-- it's more on demand because you could be having a conversation with me or I can be having a conversation with another person and I can get a text. And there-- you can answer a text very quickly and still be engaged because we're-- we have become a multitasked society so that we will be able to have multiple modes of communication. Our devices have allowed us to do that and I can only see that continuing as we move forward. I believe the adviser needs to understand the importance of community whether it be Facebook, Google Hangout, even-- you know, they have neighborhood community apps where you can post whether or not you need a baby sitter, a snow shovel service. And I think that our advisers will embrace, for lack of a better word, a Facebook type of environment where, say, you have-- you've been able to profile your clients with this particular portfolio that-- or asset allocation you have and you can customize the stream of information that pops into them. No different than Facebook quite honestly. The client could then tag the adviser back with a question or better yet see that somebody on the adviser staff is online and shoot a quick question to an individual no different than what we do with our community portals. And I think that our advisers will embrace that as time comes as a way of a-- as a mainstream of communication and servicing clients.


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