Chet Velani

Managing Director

Hi there,

Welcome to the latest edition of EVFinTalk, where we embark on a journey into the dynamic landscape of financial planning in 2024. As we begin an exhilarating year, the financial industry is undergoing a transformative evolution fuelled by the coming together of artificial intelligence, digital and hybrid advice models and the backdrop of market uncertainty.  

The opportunities are vast and compelling, yet they come hand in hand with formidable changes, including implementing the FCA’s Consumer Duty, ongoing regulatory reviews, and persistent market volatility.  

To flourish in this environment, our industry must prioritise adaptability, shaping our strategies to meet the evolving needs of an existing and new generation of consumers. Embracing technology becomes not just an option but a strategic necessity for achieving greater efficiency and staying ahead in a competitive landscape.

Remaining in line with market trends is important for us all. The shift towards digital advice and the ongoing trend of business consolidation are reshaping our industry. To thrive, it is not a case of purely observing but actively participating, creating strategies that harness their potential.

At the core of our mission is the assurance that financial advice and support are accessible to all. As we delve into innovation, digital solutions emerge, particularly for those approaching retirement.

Together, let’s navigate the challenges, seize the opportunities and create a future where financial planning is within reach for all. Read more here.

Here are a collection of insights from the team for the year ahead:

Innovation, Innovation, Innovation

Discover the biggest opportunities and risks in the financial planning industry in 2024 with Andrew Storey, Group Innovation Director. Explore the future changes customers want and the market trend here.

Roadmap to success

Learn more about EV's 2024 strategic plans, product advancements, and how technology can address the expanding advice gap in financial services with Ashley Staples, Product Director. Read more here.

A summary of what's new and what's news:

Letters of Authority – Your Country Needs 

LoAs, often dubbed Loads of Agony, have prompted us to collaborate with The Pension Lab in supporting their #LogYourLoAPain industry initiative.  We aim to improve the LoA process for all parties involved, especially the end consumer.
 
While frustrations have been well-documented, until now, there has been no previous attempt to quantify the cost impact of delays and frustrations caused by the LoA process. That's about to change, and we need your help.
 
Our friends at The Pension Lab are calling on all advisers, planners, paraplanners, and wealth managers to log their average LoA volume. In return, you’ll receive a bespoke LoA cost report and a sense of satisfaction in helping to scale the pain of LoAs. 

Shortlisted - Innovation Award - Tech

EVDirect Quick Tools received praise for being among the most innovative and impactful technologies in the workplace. Through its diverse advantages, EVDirect Quick Tools captures employees' attention effectively and encourages active engagement to understand their retirement choices better. 

In case you missed us or would like to see us in action:

Solving the cashflow planning puzzle at EATT2024

The EV team had an incredible day at the 5th annual Empowering Advice Through Technology (EATT) conference, a one-day event for advice firms seeking to integrate technology into their advice processes and businesses. Find out more here.

Digital Integration In Wealth 2024: 19th-20th March

Discover our predictions for the future of digital and hybrid advice and how EV is already providing solutions to future-proof financial service companies; our stand will be in the main exhibition hall, so please pop over and chat. Join Chet to discover 'Why digital and hybrid advice is no longer a futuristic concept.' he will be giving practical insights into how to turn the digital revolution into your evolution.

NextWealth Live 2024: Tuesday 19th March

You will find us amongst our fellow 'Change Agents' at this year's NextWealth Live! We will demonstrate how financial service businesses can determine better outcomes for their clients, changing the course of their clients' future for the better using EVPro's unique, realistic stochastic cashflow planning. In a world of possibilities, why predict one future? We can show you how to gain clarity quickly across many scenarios.

Thank you for taking the time to read our content.

We hope that you found it interesting and enjoyable.

To be a part of future issues of EV Fintalk, please contact us via email to share your expertise or contribute to the conversation. We welcome your valuable insights and look forward to hearing from you soon.