The financial services industry is embracing online technology as advisors look for ways to better serve investors, according to a new report from Mackenzie Financial Corp.
The report suggests advisors value personalized and high-quality content that is easily shared with clients, and they rely on mobile, and use social media, which is quickly becoming a critical business tool.
The Mackenzie Investments Advisor Online Report is based on research conducted with 410 Canadian advisors by Environics Research Group in September. A sample of this size produces results considered accurate to within +/-4.8 percentage points, 19 times out of 20.
The survey shows that advisors are engaged online and spend a significant amount of their time on the Internet reviewing industry websites, publications and investment firm websites.
The vast majority of advisors (90%) indicate that websites where they can access advisor-specific content are useful, and the same percentage also value current and relevant information that they can share with their clients.
Not only do advisors want personalized content, but 80% also expect direct access to their sales team through an investment company’s website.
Mobile devices and social media
The survey finds a wide majority of advisors (88%) currently use at least one Internet connected mobile device such as a smartphone or tablet and almost a third (29%) use a mobile device, such as a tablet, in client meetings. As well, 66% of advisors want sites that can be fully accessible through mobile phones or tablets
For advisors who do not currently use a mobile device in client meetings, 51% expect to start using one in the next year.
The use of social media in advisors’ practices is becoming increasingly important with 58% using social media for business and more than two thirds (67%) saying that they expect their social media use to increase, according to the survey. Advisors say they expect to use social media to build their brands or profiles, share investment-related topics with clients, and when prospecting for new clients.
New website launched
In response to the survey and to meet the changing needs of advisors, Mackenzie has launched a new website (mackenzieinvestments.com) that provides a personalized experience, mobile-friendly interface and robust, easily shared content — including fund comparison tools and portfolio manager videos.
“The world has embraced mobile technology and financial advisors understand the need to stay relevant and connect with clients in new and creative ways,” said Jeff Carney, president and CEO, in a release.
“To meet the growing demand from advisors for a superior digital experience, Mackenzie Investments has built a new website that better equips advisors to serve their clients,” he said.