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How advisers can ‘illustrate’ advice and innovate client engagement
How advisers can ‘illustrate’ advice and innovate client engagement

How advisers can ‘illustrate’ advice and innovate client engagement

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By Tony Zhang ·
August 12 2020
How advisers can ‘illustrate’ advice and innovate client engagement

How advisers can ‘illustrate’ advice and innovate client engagement

Through the advancing progress in augmented reality technologies, advisers can transform their advice delivery and take customer engagement to a new level.

Jamie Engel, founder of online education platform Neutopia and speaker at this year’s Adviser Innovation Summit said that advisers can innovate the way they deliver advice with the power of augmented reality (AR).

Mr Engel said that with continued development in AR technologies, it could be integrated and utilised by financial advisers to maximise client engagement and education through a digitalised setting.  

“Augmented reality will allow financial advisers to provide advice that is transformed for clients and show clients what advisers really see from their perspective, ” Mr Engel said.

“It aims to power how it will be delivered visually, translate complex financial data and communicate it as an output for clients.

“No matter how it will be illustrated – seeing through colour, shapes, high tech graphs – any visual way that helps the client paint the picture of their financial journey would be very helpful.”

As a result, advisers can also seek to present various scenarios, predictions and models through AR and this would allow the clients to interact and immerse themselves through the process.


However, Mr Engel acknowledged that the AR is still an early technology for financial industries and that an adviser would really need to experiment to know if it is a good fit for them.

“AR and virtual reality has been talked about a long time – it’s still early days, but it’s something advisers can most definitely start to think about and start to experiment with. This can be your point of difference,” he said.

Mr Engel stated that financial advisers should start figuring out what it is and most importantly how it will benefit them.  

“It really is about illustrating that advice and using data. How can it make advisers understand data better? How can it make better forecasts and look for better portfolios and in the end that translates to financial results for clients,” he said.

“But at the end of the day, even if it looks cool advisers really need to make sure they understand the concepts and how to make it work best for them.

“Advisers don’t want to overwhelm clients where it’s not necessary, I don’t think advisers themselves want to be overwhelmed with these technologies too.”

Mr Engel said that with virtual technologies moving fast, new AR and VR innovations could become available in the next 10 years.

In the time of COVID-19, this has only increased and sped up the adoption of the different mediums according to Mr Engel.

“Video is starting to become huge and virtual and augmented reality, although still early it could become part of the tool kit for advisers,” he said.

“COVID-19 has already seen the adoption of multi-use communications. For advisers that has changed the way they engage with their clients. 

Undoubtedly we will definitely see these new changes continue after the pandemic.”

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Tony Zhang

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