SEARCH
Advisers scared of too much software choice: YTML
Advisers scared of too much software choice: YTML
There are too many choices of software in the industry, making it challenging for advisers to integrate new technology, according to advice consultancy YTML.
Speaking at a media roundtable in Sydney, YTML director Terri Ho said the reason technology remains a challenge for advisers and licensees is because there are too many choices of software, not because they think it's too hard or they don't want to embrace it.
"There are just too many choices [of software]. The problem with too many choices is that you don't know how to combine them," Ms Ho said.
Ms Ho noted that another problem for advisers around technology is that a lot of software and applications "don't talk to each other".
"They all work in silos. There is so much fantastic software out there, and they all can make such a big difference to an adviser's life," she said.
YTML said the advice industry will struggle to take the next major step in its evolution unless technology providers collaborate in solving the operational frustrations, which it says has long characterised the advice industry.
YTML chief executive Kevin Liao said collaboration starts with software providers being receptive to the notion of working together.
"We then need to have an open dialogue and challenge ourselves on how we can leverage our respective complementary strengths to create solutions that make it operationally easier to deliver advice," Mr Liao said.
For example, Mr Liao said the development of more agnostic software providers will help reduce the prevailing silo mentality of software providers.
He said this will go a long way to improving the customer experience delivered by the advice industry.
"There is such an opportunity for this industry to take a huge step forward," Mr Liao said.
"I encourage all players, large and small, to look at the big picture and be part of that movement."
Subscribe to our Newsletter
We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians
Your email address will be shared with nestegg and subject to our Privacy Policy
latest articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Center
- Investor Daily
- Lawyers Weekly
- Money Management
- Mortgage Business
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- Which Investment Property
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- Mortgage Business Awards
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- The Adviser Podcast Network
- Australian Aviation Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- Mortgage Business Podcast Network
- REB Podcast Network
- Relative Return
- The Smart Property Investment Show
- Space Connect Podcast
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
