Advice firm Lucerne Investment Partners has come out in support of new technology, arguing that it enables “richer” and stronger client relationships.
The newly established advice firm pointed out that new technology enables advisers to better serve their clients, allowing advisers to build trust and enhance long-term relationships.
Lucerne uses platform technology – in its case PractiFI – to invest in products alongside clients.
Lucerne founder Jeremy Zehnwirth said: “We use a technology platform that lets us have a single view of each client, and invest with them in the products they need, when it’s right for them.”
Mr Zehnwirth told Adviser Innovation that this investment approach significantly strengthens the relationship between client and adviser.
“We realised we were operating in an industry where clients think they are receiving advice but ultimately they are just being sold products.”
“We’ve turned that on its head. We invest alongside our clients and build partnerships with our clients. That serves our clients’ interests and as a consequence, our own,” he said.
Mr Zehnwirth reinforced that sharing risk with clients places them at the heart of an advice business.
Lucerne is set to formalise its own fund in the first quarter of this calendar year. The fund will invest in the opportunities the advice firm prefers, allowing clients access to such opportunities.