Let's put this in context. I was talking today with an adviser who is based in Bristol and he said before Covid he used to really enjoy meeting clients who were based in London, Birmingham and Manchester. But he says that most of them are now more than happy with Zoom meetings and that he rarely gets out of the office these days which he misses a lot. I have to sympathise with him, as my own UK travel has dropped off a cliff since Covid. I infinitely prefer running half day and full day in person workshops but very few advisers will travel now that everyone has got used to Zoom and Teams. Literally every week I could fill a training room somewhere round the UK with a group of IFAs. However, this shift to virtual meetings and online training sessions raises an important question: how effective are these online interactions compared to face-to-face engagements? There’s no doubt that Zoom and Teams have their place, especially in terms of convenience and efficiency. But when it comes to training, particularly in our industry, the data suggests that something might be lost in the transition. Research indicates that attention spans tend to be shorter in online settings. For instance, studies show that during online training sessions, attention can wane significantly after just 10-20 minutes, particularly if the content isn't interactive or engaging. This contrasts with face-to-face workshops, where participants can stay focused for longer periods - typically around 20-30 minutes - especially when the session includes discussions or group activities. But it’s not just about attention. Comprehension and retention of information also appear to be affected. While online training can match face-to-face learning in terms of comprehension, this often requires a more disciplined approach from participants and relies heavily on the quality of the training design. When it comes to retention, face-to-face training generally comes out on top, particularly for complex topics that benefit from immediate feedback and practical exercises.

New research by Octopus Investments reveals that 69% of financial advisers don't have a plan for the Great Wealth Transfer, a huge intergenerational wealth shift expected over the next 20-30 years. This is a missed opportunity, as the inheritance economy could be worth £5.5 trillion. Many advisers worry about losing assets when clients pass away, with significant losses already happening due to a lack of engagement with beneficiaries. Advisers often think beneficiaries will spend their inheritance but most investors plan to reinvest it. To avoid these risks and make the most of the wealth transfer, advisers should start connecting with their clients' beneficiaries now. Tailoring strategies to engage younger generations will also help ensure assets stay under management across generations. Marketing Point Start building relationships with your clients' beneficiaries today! By engaging the next generation, you can keep assets under management and show your value across lifetimes. This approach not only protects your business but also boosts client satisfaction and trust which can only be a good thing.

I just walked past an adviser's office which still has one of these in the window. They were hugely popular back in the day - perhaps the profession needs a modern equivalent...?

Would that be a great idea for financial planners! A little way off but it's coming https://techcrunch.com/2024/04/19/webflow-intellimize-acquisition-web-development-ai/

I'm always interested to see what the latest tech is that advisers are using with clients. I know that the reMarkable is very popular. Here's another take on linking real paper with your PC or device - the HUION Note 2-in-1 Digital Notebook Drawing Tablet. You can draw and write in real time, as well as transfer what you wrote later. Anyone use something like this?