National IFA, LEBC Group’s (LEBC) ‘Bionic Advisory Service’ has now passed the magic GBP1 billion of new ‘clients assets invested’, an increase of 100 per cent within just nine months.
Over 37,000 clients have benefited from the service’s advice, none of the assets have been moved from LEBC’s existing clients and the client base for this service includes those that have invested and those that haven’t.
Jack McVitie, chief executive of LEBC, says: “Of course, advice does not always mean investment – sometimes the best advice is to do nothing, at other times people just need help with difficult personal financial decisions. So, in terms of new clients to the bionic advisory service it is not so simple as dividing the total sum invested by the number of clients to get to an average investment.”
LEBC’s bionic proposition combines technology with financial services knowledge, expertise and a human interface. It is a full fee based advice service with comprehensive fact finding, profiling and suitability. As a result, clients receive fully regulated, tailored advice, appropriate and suitable to their own circumstances delivered via both the telephone and internet using intelligent systems.
McVitie adds: “As an advice business focussed on client outcomes, service and appropriate advice are absolutely paramount in everything we do. We ensure that all calls and interactions are recorded for quality purposes. We understand that pure robo technology is not without its flaws, however by combining human expertise with a technology augmented advice solution, we can advise clients at a scale that would not have previously been possible with a more traditional ‘shoe leather and paper’ model.
“Through our ongoing investment in appropriate technology, our aim is to industrialise and democratise advice. This has to be a good thing for all given current and future needs.”
