The trend for IFAs to communicate electronically with clients is set to surge according to a poll of IFA firms by independent wrap platform Nucleus.
The findings, which are based on the views of 30 IFA firms representing 171 individual advisers, reveal that half of those questioned believe that the greatest shift in IFA/client communication over the next 12 months will be towards increased online contact.
The poll, which was carried out as part of a wider-reaching survey of advisers, also shows that although less than 6% of advisers currently consider their website to be a serious communication tool, over a quarter (27%) believe this will change with greater emphasis and effort being put into making it more efficient and effective for communicating with customers.
Whilst the results demonstrate that IFAs are increasingly looking for new ways to communicate effectively with their clients, it also highlights the importance advisers place in face to face communication, with over 40% of those surveyed feeling it remained the most important means of establishing and maintaining relationships with their clients.
Mike Deverell, Investment Manager of Equilibrium Asset Management and Nucleus member, commented on the results: “The days of a client being happy with the odd meeting and a letter or two over a 12 month period are well and truly over. Clients want, expect and indeed deserve more regular and relevant contact and content from their financial adviser, and the most effective and efficient way for us to deliver information outside of our regular face to face meetings is electronically.”