Major technology changes ahead for advisers

Lamble said that 2012 would bring unprecedented levels of market change to the financial services industry.

He said: “The good news is that a third 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.”

Lamble added that he believed 2012 would be the year when advisers would get to grips with social media.

He said: “Some 48% of firms are planning to increase the amount of contact they have with their clients via their website and 36% are planning to increase their use of social media. More than the 30% who are planning greater use of email.

“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.”