How technology  improves  the client-advisor relationship

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The relationship between financial advisors and their clients is built on trust.  The levels of this trust and reliability are often formed over an extended period and sustained by repeating human interactions as well as a solid understanding of the client’s financial (and often private) circumstances.  

At the same time, the market for financial advice is facing numerous challenges. Rising regulatory and transparency requirements oblige the advisor to engage in time-intensive and often manual tasks. Examples include gathering information on the client’s financial situation and riskbearing capacity or providing suitability reports and advisor protocols. As a result, advisors have less time to build trust in existing relationships or forge new oneswhile the quality of their services simultaneously diminishes. 

In addition, an increasing number of clients, particularly younger generations, demand online access to their investment and a seamless experience with their advisors. The advice itself becomes a key element integrated into a digital, transparent and constantly available service offering. Advisors lacking a digital offering are at risk of not being able to cater to these client requirements. 

Key elements of technological contribution 

In this context, technology acts as an enabler to build trust and enhance service quality & scope: 

1. Trust  Foster trust by increasing transparency over the advice and investment process 

2. Time  Use time savings to focus on the client and improve the quality of service  

3. Insight – Develop a holistic view of the client’s assets in order to provide better, tailor-made advice 

4. Investment efficiency – Improve the risk-return relationship by providing the best products for the client’s financial and risk-bearing capacity 

5. Access – Adapt to “alwayson” clients requirements by providing constant access to investment and advice via online channels 

Dealing with such an important topic as personal finances will likely continue to require human interaction, however, technology is a necessary factor in a hybrid model of financial advice by enabling the advisor to have the time and tools to focus on the human factor. 

Whereas the use of technology in financial advice is still perceived as an added value to achieve a competitive advantage, it will evolve as a prerequisite in every advisor’s service offering. 

Provide a digital client experience  

The use of technology allows the advisor to save time to focus on the client relationship while improving their service to cater to the needs of an increasingly digitalized society. With Fincite CIOSwe have built a modular software that allows advisors to choose specific functionalities from a comprehensive toolset: 

Fincite CIOS


From an economic perspective, using these tools allow the advisor to increase revenue per customer by generating net new assets and reduce costs by cutting manual efforts along the value chain. 



How Software Can Close the Retirement Gap

Fintech on Fridays


Challenges of an aging society and how we can use technology to win the game 

It is one of the most pressing financial concerns for most of us: how do I ensure that my savings are sufficient to maintain my standard of living during retirement? 

Yet this concern remains heavily disregarded by most individuals, particularly in Germany where over 90% of retirees rely mainly on public pension schemes¹Several developments related to our society and its economy, such as the demographic shift in the population towards older generations as well as the sustainably lowinterestrate environment, lead to the unsuitability of public pension to provide sufficient coverage for retirement. 

Raise Awareness

Despite several additional savings products other than public pensions, such as company or private pensions, the main challenge of converting cash assets into suitable investment products remains. 

For most people, the challenge starts with awareness. The majority of future retirees are not even aware of their existing retirement gap. Also for the case of retirement planning, the simple logic prevails: the sooner one is aware of existing retirement gaps and the earlier one starts investing, the higher the expected returns and hence the lower the risk of facing such gapsThe issues resulting from retirement gaps can be severe and may very well result in poverty. Already today, 20% of the German population live in or are at risk of old-age poverty²The issue of existing and widening retirement gaps thus requires urgent attention from both the public and private sectors. The governments in countries like Norway, Sweden, and Denmark have already identified the issue and provided their citizens with the necessary tools to understand their current state of pensions. These tools allow citizens to access a holistic online-view on their earned pension and also supply them with useful forecasts to simulate changes to their pension income. Although there are ongoing government-driven initiatives in Germany, the task of increasing awareness remains with the private sector for nowNevertheless, the subsequent step of closing identified gaps remains.

Provide comprehensive tools 

With our digital solutions, Fincite provides the necessary toolset for users to become aware of existing retirement gaps and derive the right actions to close them. During this process, we not only take into account the user’s existing pensions but additionally consider their aggregated wealth in a holistic view. This might include additional assets, such as real estate, which can significantly impact the financial situation during retirement. By analyzing a user’s current and planned living and financial conditions, our software enables them to determine their required retirement savings and identify existing gaps. A workflow could look as follows: 

1. Understand the client  connect current pensions, cash & investment accounts, real estate, and other assets to develop a 360° view of the client’s wealth 

2. Determine financial needs  develop financial goals for retirement by exploring all incomes and expenses

3. Identify existing retirement gaps  determine existing gaps by comparing the expected returns of current assets with the client’s financial planning

4. Provide suitable products  choose suitable products to close the retirement gap, taking into account the client’s financial and risk-bearing capacity 

5. Keep track – employ algorithms to monitor and realign the investment strategy during the saving and withdrawal period 

With this approach, you’re able to provide your clients with investment solutions to address the most pressing financial concern and at the same time generate useful insight into the client’s state of wealth.  

Find out more about our Financial Planning Software or contact us directly, our experts are happy to help you.


  • ¹ Bundesinstitut für Arbeit und Soziales, 2017
  • ² Süddeutsche Zeitung, Artikel „Rentner stärker von Altersarmut betroffen als gedacht“, Februar 2019