Investment Planning Counsel partners with Conquest to Drive Efficiency and Personalization of Financial Planning Experience.
TORONTO, April 27, 2021 /CNW/ – Investment Planning Counsel (IPC) released a study today that gives insights into how financial advisors are growing their business over the course of the COVID-19 pandemic. Advisors are accelerating their adoption of technology and want stronger support from their dealers to help improve operational efficiencies and manage relationships with clients.
The study, conducted in partnership with Environics Research, revealed that financial advisors are prioritizing technology when looking to their dealers for support. Among the roughly two-thirds of advisors who believe they are likely to switch dealers at some point in the future, also viewed technology as a key attribute in evaluating dealers that they might work with. The survey found that:
83 per cent of advisors consider dealer-supplied technology – that will help them run their business efficiently – as very or extremely important to their growth. This is followed closely by efficient operations and dealer platform;
79 per cent say seamless access to services for clients, supported by technology is either very or extremely important;
Although advisors rate technology that enhances business efficiency as the most important support area for growth, only 43 per cent are satisfied with the technology support they receive;
Millennial advisors are more likely to consider technology that supports their efficiency as highly important (92%) when compared to Boomer advisors (71%).
In continuing to meet the expectations of both advisors and investors, IPC has partnered with Winnipeg-based Conquest Planning Inc. and adopted its modern financial planning platform. This adds to significant investments already made by IPC in a whole range of sophisticated technologies to enable growth for its advisors and deliver seamless, personalized service to investors.
“Understanding what our advisors need has always been at the core of who we are, which is why our digital transformation journey continues to be of top importance to us,” said Reggie Alvares, Executive Vice President, Operations & Information Services at IPC. “We have always believed it is important to arm our advisors with the right technology to unlock time and operational efficiency. And we continue to sharpen our edge by bringing the right technology partners to the table,” added Mr. Alvares.
Conquest’s state-of-the-art digital application uses artificial intelligence and real-time collaboration to help IPC’s advisors and clients work together as they navigate current challenges and build a stronger financial future. Using cutting-edge analytical capabilities, IPC advisors can stress test different scenarios as well as quickly adjust plans and adapt financial advice to reflect their clients’ changing needs. “Conquest is a powerful, advanced tool that will strengthen the relationships advisors have with their clients, as they continue to guide them at every life-stage,” Mr. Alvares summarized.
“Embracing technology is a huge benefit to advisors and clients alike,” said Brad Joudrie, Conquest’s Chief Revenue Officer. “By using Conquest, advisors can reduce the trial and error associated with traditional financial planning and spend less time entering data. This enables faster financial plan construction while delivering clients a seamless experience. The goal is to empower advisors to get more families into financial plans. It is a truly open, collaborative business tool that is best-in-class technology.”
The Conquest financial planning software platform is being launched in phases across IPC’s network. It was rolled out to IPC’s Portfolio Manager Advisors on its discretionary wealth management platform earlier this year and will be rolled out to the firm’s IIROC advisors this week. The platform will be available to IPC’s MFDA advisors this summer.
About Investment Planning Counsel
Investment Planning Counsel Inc. (IPC) is an integrated wealth management company founded in 1996. IPC supports Advisors in delivering a distinctive client service experience by providing client-focused advice that helps Canadians live their dreams. With $27.5 billion in assets under administration, IPC is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IPC Private Wealth is a program offered by IPC Securities Corporation, a subsidiary of Investment Planning Counsel. To learn more, visit www.ipcc.ca.
About the Environics Research Survey
The research study was conducted for IPC by Environics Research. It included a total of 358 independent financial advisors, with representation by advisor type (IIROC and MFDA advisors), region, language and assets under management. All participating advisors were members of the Environics Advisor Perception Panel. A probability sample of this size would yield a margin of error of +/-5.2% 19 times out of 20.
About Conquest Planning Inc.
Conquest Planning Inc. (est. 2018) delivers personalized, prioritized financial planning strategies that will help advisors and their clients see what possibilities exist for their financial future. They believe a goals-based approach to financial literacy delivered through a human centered, digital experience will increase the number of people who benefit from advice. Available in Canada and the U.K., Conquest was founded by a team of financial planning and technology experts. To learn more, visit www.conquestplanning.com.
SOURCE Investment Planning Counsel
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