...and neither is being 'just a Financial Planner' enough in 2016.
We love this phrase “The goal for banks is to be relevant at all times, for all financial and non-financial services."
Just a few years ago, who would have thought that a bank might offer 'non-financial services'. Yet, despite their best efforts, many banks in our high streets today still feel stuffy and old fashioned. As Metro Bank likes to point out, many banks still chain pens to the counter because they don't trust their customers! It's a small point but it says a lot about customer service that banks offer.
But it's not just banks - others in Financial Services have to change too for the sake of their businesses and the value they add to clients. And it's not all about new technology.
At Serenity we saw this coming and we changed six years ago when we introduced the concept of Financial Life Planning.
Forward-thinking financial planning firms realise that we shouldn't just be helping people to plan their pensions and investments, but also helping them to plan their lives - because when we have a deep understanding of what someone wants to achieve in their life, then their financial planning has so much more meaning for them.
Being 'just a Financial Planner' is no longer enough; being a close and trusted confidant to people who have things they want to achieve in life is something that clients truly value.
The banking industry is in transition, with a need to increase revenues, decrease costs and improve the consumer experience. According to the Accenture report, “Beyond the Everyday Bank: The GAFA Banking Approach“, “The goal for banks is to be relevant at all times, for all financial and non-financial services, with consistent and fulfilling customer experiences in both the digital and physical spaces."