5 Signs Your Advisory Practice Needs a Modern Digital Platform

According to the Belgium 2024 Digital Decade Report, 74.5% of Belgian small and medium-sized businesses still only have a basic level of digitalisation(1). 

What this means for financial advisers is that many are still working with outdated systems while clients’ expectations keep rising. People want faster, more personalised services, If you’re running your practice the old way, you could already be falling behind. 

Let’s look at five signs that show your advisory business might be overdue for a digital upgrade and how a modern platform for financial advisors can help. 

1. Advisors Are Buried in Administrative Tasks

If you or your team spend more time filling out forms and chasing documents than speaking with clients, that’s a red flag. 

A digital platform changes that: 

• It automates onboarding and gathers all the relevant information in one place.

• It provides reminders and to-do lists, so nothing slips through the cracks.

• As a collaborative platform, it works across channels and teams, making it simple to bring new advisers on board quickly and smoothly.

Less admin means more meaningful conversations, and that’s what builds trust. 

2. Your Financial Plans Are Static, But Your Clients Aren’t

Life doesn’t stand still. Clients get new jobs, buy homes, start families, or deal with unexpected costs. But if their financial plan is just a static document, it won’t reflect those changes, and clients will notice. 

Modern platforms bring planning to life: 

• Real-time updates keep plans current when markets move.

• What-if tools let advisors  explore different scenarios and provide them to their clients, like retiring early or buying a second property.

• Interactive charts and visuals make financial choices easier to understand.

Younger clients, in particular, expect this kind of flexibility. They’re used to apps that adapt instantly, and they’ll expect the same from their adviser. 

3. Client Engagement Only Happens at Review Points

If your main contact with clients happens once or twice a year at a scheduled review, you’re probably not giving them the ongoing engagement they want. 

A 2024 Latínia study showed that 91% of Europeans think digital banking services are crucial when choosing a provider, and 76% would switch if better options came along (3). The same is true for financial advice, as people expect a steady, digital-first connection. 

With the right platform, you can: 

• Send personalised updates automatically.

• Use predictive tools to flag when a client might need extra support.

• Keep communication flowing between review meetings without adding to your workload.

This approach reassures clients that you’re looking out for them every step of the way, not just once a year. 

4. Your Platform Can’t Support Scalable Personalisation at Scale

Good financial advice is always personal. But when your client list grows, it becomes more challenging to give everyone the same level of attention. 

This is where digital tools shine. They help you: 

• Use data to understand client behaviour and anticipate needs.

• Group clients into segments and tailor messages for each one.

• Automate regular check-ins, so nobody feels forgotten
  

The numbers back this up. KPMG’s 2024 Future of Fintech report found that 92% of business leaders see customer experience as a top priority, and nearly half believe personalisation at scale is key to growth (4). 

Imagine being able to send each client a customised quarterly update without additional effort than click on a button, or giving them real-time retirement projections that adapt automatically. That’s personal service delivered at scale. 

5. Integration Is a Constant Challenge

If you’re juggling a CRM, banking apps, spreadsheets, and client portals that don’t connect, you’re wasting time and risking errors. A patchwork of systems makes things harder for you and less smooth for your clients. 

Modern platforms are designed to integrate from the ground up: 

• Open APIs allow easy connections with other tools.

• White-label capability means the platform can be embedded and connected directly into your existing systems, creating a seamless experience for both advisers and clients.

• Flexible design lets you adapt as your business grows.

McKinsey estimates that Europe’s embedded finance market generated €20 to 30 billion in 2023, and it’s growing fast as services become more connected (5). If your systems can’t keep up, your practice risks being left behind. 

The Bottom Line 

Each of these five warning signs points to a practice that isn’t keeping up with today’s demands. 

The good news is that the right technology can turn things around. A modern platform for financial advisors helps you: 

• Save time and cut costs.

• Deliver more relevant, timely advice.

• Keep clients engaged and loyal.

• Grow your business without losing the personal touch.

The financial advice profession will always be about trust and relationships. But in a digital-first world, those relationships need strong tools behind them.  

If any of these signs look familiar to you, now is the time to explore how a digital platform could help you future-proof your practice. 

References:

1. Belgium 2024 Digital Decade Country Report | Shaping Europe’s digital future. (n.d.). https://digital-strategy.ec.europa.eu/en/factpages/belgium-2024-digital-decade-country-report 

2. Van Der Wielen, W., André, M., Delanote, J., Dumancic, E., Harasztosi, P., European Investment Bank, & Ipsos Public Affairs. (2025). EIB Investment Survey 2024 Overview: Belgium. European Investment Bank. https://doi.org/10.2867/859775
3. Marta. (2024, November 8). Banking Statistics Shaping Customer Experience [2024] – Latinia. Latinia. https://latinia.com/en/resources/banking-statistics-shaping-customer-experience
4. KPMG, & Brannan, J. (2023). Financial services in a connected ecosystem: The future of fintech. https://kpmg.com/kpmg-us/content/dam/kpmg/pdf/2024/future-of-fintech-web-copy.pdf
5. Murati, A., Skau, O., & Geer, A. (2024, July 15). Embedded Finance: How banks and customer platforms are converging. Embedded finance: How banks and customer platforms are converging. https://www.mckinsey.com/industries/financial-services/our-insights/embedded-finance-how-banks-and-customer-platforms-are-converging