The stories statistics tell on how we use Technology

3 Stats and the story it tells you about your clients’ use of technology and finance.

Stats tells StoriesCurrently on tour with Three Sixty Services talking about how advisers can use technology in their business to help with client communication and interaction. There’s a whole bunch of really interesting stories and facts being shared by the speakers and I thought you’d enjoy hearing 3 of them here. They all support the importance and desire for your clients to have the option to communicate with you using modern day tools, naturally this will include social media.

When I talk about social media, just to be clear, I’m including not just social networking sites like LinkedIn, twitter, facebook, Instagram, Pinterest etc. But also anywhere online where people can easily share thoughts and opinions. Which if you think about it, is pretty much the internet today, it’s blog posts, trade publications, shopping sites, review sites, the list goes on.

Interesting set of stats number 1:

Figures from Ofcom published April 2014 relating to usage in 2013 as compared to 2012. We’re now in 2015 so I’ll allow you do to the projections in your head as to what those figures might look like today.

Adults’ Media Use and Attitudes Report 2014

  • 83% of adults go online using any device any location.Stats & Stories
  • 98% – 16-24s and 25-34s are now online
  • 42% – 65+ going online (vs. 33% in 2012).


  • 62% now use a smartphone, an increase from 54% in 2012.
  • Increase is driven by 25-34s and 45-54s
  • 65-74s are almost twice as likely to use a smartphone now compared to 2012 (20% vs. 12%).

Tablet use doubled

  • 16% – 30%in 1 year 2013.
  • Use by 65-74s trebled; from 5% to 17%.

Effectively, a significant percentage of your client base is comfortable using technology to communicate on line, are you offering them this option? Either via social networking channels, regular blog updates, or/and an integrated process to replace some face to face meetings (video conferencing/ eg skype or Microsoft Lync etc).

Interesting set of stats number 2:

People are going on line to do some research before they make an investment decision

  • 94% Research online
  • Online Search Engine 60%
  • Sought info from financial services websites 49%
  • Read reviews online 48%
  • Read online comments 30%
  • Comparison shopping online 27%
  • Talk with friends/family 48%

This is from behaviour of 250 people who made investments within 6 months from the time of being surveyed and was published in 2011. So the question is, when a prospect puts in a search query on line are you coming up for the relevant ones? If a prospect lands on your website, are you putting your best business foot first and easily letting them know if you’re the right adviser and if so why and how you can help them? Are you actively part of this online conversation or have you chosen to opt out?

Interesting set of stats number 3:

When it comes to the preferred channels for banking then:

Gen Y                        Gen X                   Baby Boomers         Matures

Mobile                     66.8%                      59.5%                      45.8%                         39.9%

Online                     87.7%                      91%                          92.3%                        90.6%

Source: PwC Digital Tipping Point Survey 2011

So it seems that everyone is keen not to have to go into the bank!

Stories and StatsBut looking back at these stats what story does it tell? From the conversations I’ve had with advisers everyone across all ages are far more comfortable with using online activities to research, use and talk about their finances.

More online resources are cropping up all the time to help a prospect manage their finances without an adviser. Chris Williams recently launched Wealth Horizon ( which offers simplified advice, Lighthouse has launched an online advice service with Money on Toast.

And bonus set of stats number 4:

13.9 million investors in the UK of which 25% will only DIY their investmetns, 13% will only make investments through their adviser and 62% will make investments though a mix of DIY and their adviser.

(Source Platforum 2014).

As more and more information is available on line and more solutions to help people make their investment decisions are appearing online it’s more and more important that advisers make sure that they’re part of this online conversation and decision making process. What are you doing?



Gregarious, happy, problem solving, natural connector who once was told she could “Network in a Graveyard” and is still unsure about the comment. Previously an IFA herself and immersed in social media Bridget shares with advisers, planners, brokers and providers how to get the most out of social media and attract new clients.


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