Financial adviser using AI data

15 Oct 2021

Beyond digitisation – transforming the advisory industry

Patrick Lawlor

Patrick Lawlor

Writer, Investec for Corporates and Institutions

The pandemic has accelerated user adoptability in all aspects in financial adviser practices. Investec’s Lyndon Subroyen unpacks how you can use new technology solutions to drive greater efficiencies in your business and engagement with your clients.

According to Lyndon Subroyen, Global Head of Digital and Technology (Group CIO/CTO) at Investec, there’s an in-house joke in the industry that the chief digital transformation officer of 2020 was Covid-19, simply because of the way lockdowns accelerated several years of transformation (seven years, by one estimate) into one year.

At his recent talk at the Financial Planning Summit 2021, Lyndon explains how the law of accelerating returns is likely to drive change in the financial services advisory industry. Using the examples of platforms like AirBnB and the technological changes in digital photography, he paints a picture of what life in financial services is likely to look like in the future.

Digitisation has implications for the cost to serve clients as well as for client expectations

Looking particularly at advisory services and investment management, he notes how advances in artificial intelligence, algorithms and machine learning are changing the industry. He discusses how roboadvisors have evolved but makes the point that few have managed to successfully digitise both their onboarding processes and their investment management – but he believes that day is coming.

Digitisation also has implications for the cost to serve clients as well as for client expectations. “My Netflix experience drives my expectations of personalisation,” he notes. In particular, the adviser needs to save the client time and provide a high level of trust. 

lyndon subroyen
Lyndon Subroyen, Investec Global Head of Digital and Technology (Group CIO/CTO)

The law of accelerating returns is likely to drive change in the financial services advisory industry

How can the industry digitalise?

However, he says, we need to distinguish the concept of digitisation – the moving of analogue processes online – from digitalisation, where digital technologies are harnessed to transform business models.

How can the industry digitalise? Lyndon cites several examples of fintech’s and platform businesses that are transforming the landscape and which provide examples of how the industry can change. 

The Financial Planning Summit was held on 22 and 23 September this year and is an independent virtual Financial Planning Summit that brings the latest thought leadership to professional financial advisers. Investec for Intermediaries has been a proud sponsor of this event over the past two years.

For more information on Investec for Intermediaries, click here

About the author

Patrick Lawlor

Patrick Lawlor


Patrick writes and edits content for Investec Wealth & Investment, and Corporate and Institutional Banking, including editing the Daily View, Monthly View, and One Magazine - an online publication for Investec's Wealth clients. Patrick was a financial journalist for many years for publications such as Financial Mail, Finweek, and Business Report. He holds a BA and a PDM (Bus.Admin.) both from Wits University.

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