PREDICTIONS FOR 2012

Dean Lamble, director of distribution development at Aviva, says:

“2012 will bring unprecedented levels of market change to the financial services industry. While almost 90% of advisers are now expecting to be in business on 1 January 2013, I believe it is clear that the increased use of integrated technology systems will be vital to the development of robust IFA businesses in a post-RDR world.

“According to Aviva’s latest Adviser Barometer the good news is that one third (32%) of advisers say they are planning to increase their use of technology as a result of RDR and other regulatory changes. But if they have not done it yet, advisers will need to identify their customer proposition so they can plan the right platform strategy for their business and choose which systems to implement as a matter of priority. Having the right platform coverage will be an important factor when demonstrating independent status post RDR.

“I also believe 2012 will be the year when advisers get to grips with social media. The Adviser Barometer found that in 2012, 48% of firms are planning to increase the amount of contact they have with clients via their website, and 36% are planning to increase their use of social media (eg. Twitter, Linkedin and Facebook) – more than are planning greater use of email (30%).

“Adviser firms that have now implemented an integrated technology plan will be able to concentrate on growing their business in 2012, but for all those who are still finalising their strategy they will need to do both at the same time. This will be challenging but certainly not impossible, and Aviva will do everything it can to assist.”

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