Financial advisers should be taking advantage of new technologies to market their services to clients.
Tim Reid of Small Business Big Marketing told delegates at the Synchron National Conference that advisers had access to IT systems that would enable them to engage with clients through a range of media platforms.
"Advisers now have similar capabilities to big companies in terms of marketing and should be podcasting and constantly innovating to engage their clients," he said.
"To market effectively, you no longer need deep pockets."
Reid said advisers who were not using technology to share their knowledge were doing their clients a disservice.
"From the most basic to the most complicated, advisers can educate and inform their clients and potential clients via blogs, books, podcasts, social media updates, forums and presentations," he said.
"Someone has to take responsibility for educating prospects and clients so it might as well be the adviser.
"Podcasts and videos are powerful tools and all advisers can create them using equipment they already own such as a smart phone.
"Technology means that as small businesses we can now all punch way above our marketing weight."
With increasingly demanding clients and more stringent compliance obligations Synchron Director, Don Trapnell, said it was imperative that advisers embrace technology both to enhance the services they provide clients and to protect themselves.
"Effective use of available technology is now critical in all aspects of the advice business," Trapnell said.
"Using technology in the client engagement and education process, for example, is one of the ways advisers can ensure they are protecting both the client and themselves.
"We believe that by protecting the client, we protect the adviser and therefore adopting new practices in terms of technology is now essential in our compliance process."
