The 4 Different Types of IFA Technology


Amar Pandit
A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

August 21, 2020 | 3 Minute Read

As you can see in the Sketch above, there are 4 Types of Technology that an IFA can implement. Most have focused on Technology for Operations, Client Servicing and Practice Management. These are the basic blocks that are necessary for you to drive efficiency in your work. This means doing your work faster, cheaper and with fewer errors.
However, these technologies do not deliver any competitive advantage or help your firm grow faster. They do not even help your clients understand your real value proposition, give you 100% of their assets or make them feel that their time was very well spent. The Technology that will drive growth and enable a wow client experience are the ones that you should be investing in. They will not only help you become more valuable to your clients, but help clarify the value you bring in their life (it’s got nothing to do with the markets or the economy) and help you get them on board in just 1-2 hours.
The IFA of the Future will focus on Technology for Growth & Client Experience.
One warning though “Technology by itself will not provide value. The real value will come from technology helping you to do business differently. So, it’s ultimately YOU and the way you deliver your Client Experience that will make all the difference.”
This Nano has got a little stretched, but I have to end it with a wonderful quote by Elbert Hubbard “One machine can do the work of fifty ordinary men/women. No machine can do the work of one extraordinary man/woman.”
Thus, you should “Chase Excellence and Be Special in your Client’s Life.”
PS. Check out this Nano again Digital Strategy versus Strategy Enabled by Digital
Similar Post
Nano Learning
Where Do You Live?
What is the answer to this headline question? If you are asked this question, chances are you will either give the suburb name or the city name or the country name (if you are tr ....Read More
21 April, 2023 | 1 Minute Read
Nano Learning
The difference between Sachin Tendulkar and me
Most people make a mistake of confusing Knowledge with Skill. However, the 2 are vastly different and understanding this difference will get you to focus on building real Skills. L ....Read More
14 August, 2020 | 2 Minute Read
Nano Learning
Towards or Away
There are things we do that take us towards our goals whether it’s the firm we want to build or the life we want to live. We make progress when we do them. Some examples from y ....Read More
23 September, 2022 | 2 Minute Read
Nano Learning
Which One is More Powerful?
Imagine a surgeon telling you this. I have done 25000 surgeries. Or I have saved 25000 lives. Which one is more powerful? The first line is about the surgeon's activity and a ....Read More
5 November, 2021 | 2 Minute Read
Nano Learning
The 3 Types of People you are surrounded with
All of us will be surrounded with 3 types of people. 1. People who we can learn from: I cannot state how important these people are for your personal and professional growth. The ....Read More
10 July, 2020 | 1 Minute Read
Nano Learning
The 3 Layers of Clients
There are 3 broad layers of clients in our profession according to Dennis Moseley Williams. The first layer comprises people who want something special and will invest more time ....Read More
6 August, 2021 | 3 Minute Read
- 0
- 0
0 Comments