“And there’s no doubt that technology is having a massive impact on the way we access financial information. It’s an exciting field that may continue to enhance the customer experience over the next few years. So while many customers prefer face-to-face, I see a future where there is a combination of personalised, person-to-person advice for life’s big events and more regular supplementary automated financial advice services.
As generations which are used to interacting with technology and automated interfaces in their daily lives begin to think more and more about what to do with their disposable income, we could see a further shift towards what is known as ‘robo advice’. Today, however, we are continuing to blend technology and the personalised approach at Nationwide.
Our new Nationwide Now service, for instance, allows customers in more remote parts of the country to gain access to investment advice at their local branch, six days a week through video conferencing facilities.
We offer investment advice to customers who have £50,000 in savings or as a joint income, as they are more likely to have surplus capital to invest and require advice.
Our approach is to cater to those who have a comfortable amount of disposable income to invest so that they are not locking away money they will need in the near future."