Summit Agenda

Digital business models in financial advice - from innovation to delivery




Chair’s welcome

9:10AMKeynote interview

Defining and understanding the role of digital advice

  • Where digital advice has matured to, and how it can enhance the provision of financial advice to the mass market
  • What benefits digital advice can bring to your firm
  • How digital advice will impact traditional business models
  • Understanding the optimal level of human touchpoints within digital advice models
  • Expected impact of GDPR on the digital advice space
  • The FCA’s role in fostering the adoption of digital advice
  • Thoughts on the FCA’s interim report on Pension Freedoms, Project Innovate and FAMR
  • David Stevens, Life Advice Director, LV=
  • James Dunne, Head of Digital Investing, Santander UK

How firms across FS are tackling digital advice

  • How providers from across the financial services spectrum view the role of digital advice in their future strategies
  • How propositions are being built - which models and approaches firms are adopting
  • Large incumbents and fintech startups - differing approaches and lessons to learn from one another
  • Daniel Thomson, Digital Product Owner - Retail Investments | Group Transformation, Lloyds Banking Group
  • Jason Chapman, Managing Director, Willis Owen
  • Simon Harrow, Head of Digital Strategy & Innovation. iGO4
  • Rob Hudson, Head of Digital Distribution, Aberdeen Asset Management
  • Jason Chapman, Managing Director, Willis Owen

Networking Break


Integrating Behavioural insights into your digital advice proposition

Many digital advice propositions being developed today are based on the idea that rational people act rationally. This talk will draw from extensive experience, to explain how you can protect your business from customers’ irrational behaviour and biases.
  • Designing a digital advice and risk profiling service, which takes changing consumer behaviour into account
  • Understanding how consumers can manipulate, or unintentionally misunderstand, digital onboarding processes
  • Fernando Hagel Franco, General Manager, Digital, VIVAT
11:10AMArmchair chat

Building digital assistance is good, but does it work alone?

  • Integrating digital assistance into your offering that customers will want to use
  • Michelle Cracknell, Chief Executive, The Pensions Advisory Service
  • Hagel Franco, General Manager, Digital, VIVAT

Building a digital advice model and integrating it into your firm

Hear insights from firms harnessing digital advice as a transactional-led proposition (digitising the internal advisory process to remove risk), as well as those using it to optimise the end-to-end customer journey.
    • Identifying the area or product that can most benefit from automation
    • Setting price and cost structures for different market segments
    • Driving the benefit gain from digital advice - using it to improve efficiency vs. changing the economics of your proposition to attract more customers
    • Focusing your advice solution on a specific product area vs. leveraging digital advice to connect data from various product areas
    • Building a customer-centric digital advice platform that manages different customer profiles and expectations, and engages customers
    • Practical operational considerations when implementing a digital advice model
    • Translating a personal, professional, fees-based proposition into a digital proposition - without losing the personal touch
  • John Porteous, Retail Customer Solutions Director, Old Mutual Wealth
  • Dean Butler, Head of Retail Wealth, HSBC
  • Matthew Phillips, Managing Director, Thomas Miller Investment

AI for data management

  • This case study will explore how AI has been used to handle and interpret data, and inform digital advice propositions.

Insights from fintech startups developing digital advice platforms afresh

  • Developing your digital advice offering and taking it to profitability
  • Winning customer acquisition strategies
  • Partnering with large incumbents - ensuring clear communication, and understanding one another’s objectives and hurdles
  • Why investors are backing specific startups
  • Samantha Seaton, Managing Director, Momentum Wealth & Money Hub
  • Simon Bussy, Principal Consultant, Altus
  • Michelle Pearce, Co-Founder & CIO, Wealthify

Networking Lunch


Moving digital advice into the mainstream

  • What will it really take for digital advice to become mainstream?
  • Practical advice to get your project off the ground and run pilots
  • Pros and cons of developing a digital advice solution vs. going through a third party
  • Is there a societal need for consumers to be able to freely access advice?
  • How firms are managing their relationships with the regulator, with respect to digital advice propositions
Roundtable leaders:
  • Daniel Thomson, Digital Product Owner - Retail Investments | Group Transformation, Lloyds Banking Group
  • David Stevens, Life Advice Director, LV=
  • Peter Smith, Global Head of Industry Policy Liaison, TISA
  • Simon Binney, Business Development Director, Wealth Wizards
  • Anders Nicander, Co-Head, Digital Savings Office, Nordea Bank
  • Matthew Phillips, Managing Director, Thomas Miller Investment
  • Dean Butler, Head of Retail Wealth,HSBC

Mitigating compliance, governance and risk issues associated with digital advice

  • Clarifying the risks of automated advice and the risks associated with human advice, and knowing how these differ
  • Analysing the advantages of digitising advice, from a risk and governance viewpoint
  • Designing your digital advice model with regulation and compliance in mind - establishing an approach, philosophy and governance structure that manage the new risks of digital advice
  • Peter Smith, Global Head of Industry Policy Liaison, TISA
  • Edward Lecky-Thompson, Digital Strategy & Innovation, Schroders
  • Tim Minall, Chief Compliance Officer, WorldPay

Networking Break


Making digital advice more accessible and easier with new technologies

  • Biometrics – using thumb prints or iris scans to login and streamline customer journeys
  • AI solutions that proactively suggest how customers can invest their money
  • Open APIs that enable your firm to connect to third parties
  • Automated and efficient ways of analysing customers’ risk profiles
  • Simon Binney, Business Development Director, Wealth Wizards
  • Alison Davies, Head of Digital, Skipton Building Society
  • Matthias Heuberger, Head of Transformation and Innovation, CSS Versicherung
  • James Walsh, Policy Lead: Engagement, EU & Regulation, Pensions & Lifetime Savings Association

Chair’s summary and close of summit

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