Emotional investment pushes people to contribute to the team
The world of wealth management isn't often thought of as an emotional one, but Greg Horton - head of technology and product delivery at UK IT finalist Brewin Dolphin - says the company puts a deep value on having an emotional connection to your work.
Computing: Who is Brewin Dolphin?
Greg Horton: Brewin Dolphin is one of the UK's largest wealth management firms, specialising in personalised financial advice and investment management with an overall ambition to broaden access to wealth management services in the UK and Ireland.
CTG: How are you different from your peers?
GH: We are building from the knowledge we have gained working closely with clients over many years, to enhance our services and make them more compelling and convenient, providing more choice for more clients and further developing our client-centric experience and proposition. That includes using digital technology where it augments the client experience, but not at the expense of the human relationships our business is built on.
We add value through our products, through our processes, but ultimately through our people. Our digital transformation forms part of our client-centric culture, providing a convenient, transparent, multichannel approach, but everything we achieve is through a complete team effort and the way everyone has pulled together in the last 15 months has been amazing.
CTG: How is tech part of Brewin Dolphin?
GH: We can offer a hybrid of digital and human interaction for financial planning needs. Our platforms provide greater choice for our clients as to how and when they wish to engage with us and forms part of the continuous improvement of our digital client experience. Our successful implementation of the Brewin Portfolio Service gave Brewin Dolphin Technology the foundation to become a trusted delivery partner for the firm and translates into the team immediately moving to the next challenge and greater digital opportunities for next year. By coupling our technology and the people who make that happen with consultation from our experienced financial planners, we can provide more choice for more clients and further develop our client centric experience and proposition.
CTG: What are your priorities for the future?
GH: The impact of technological breakthroughs is having a disproportionate effect on financial services. Fintech disruptors continue to disrupt some of the most profitable parts of the financial services chain, with up to 22 per cent of insurance, asset management and wealth management businesses at risk by 2021. While ‘robo-advisers' have come to the fore, the FCA Financial Lives Survey indicates people would rather humans versus machines when it comes to financial advice. Automating many of the time-consuming aspects of wealth management practice and negating the legacy IT systems that constrain our core model enables our organisation to keep pace with fintech competitors, aligning to strategic partners to compete and embrace this market disruption. Our teams are supported by an award-winning investment research team to remain at the forefront of this market trend.
This year we will fully establish the digital and client-facing product teams, whilst ensuring Brewin Dolphin's number one priority of implementing our custody and settlement system is achieved.
CTG: Why is it important to celebrate success?
GH: By building our platform for growth and honouring our people first approach, we will deliver compelling client propositions and rewarding careers. By celebrating our successes, we recognise the hard work and achievements of our people, and awards like the UK IT Industry Awards helps nurture and drive our employee engagement. When people are financially invested, they want a return. When people are emotionally invested, they want to contribute and be part of a winning team.