Twenty7tec has developed Steppl to bring client information, communications and documents into one digital environment and help advice firms maintain relationships beyond individual transactions.
The platform, discussed in the latest episode of the company’s ELEVATE podcast, is designed to address fragmentation across the advice process, with information often spread across several channels and systems.
It connects advisers and clients in a secure digital environment, aiming to reduce administration and make it easier for customers to supply information and documentation.
The episode, hosted by Ellisha Jade, featured James Tucker, chief executive of Twenty7tec, and Jon Guerra Fernandez, product owner.
Guerra Fernandez said: “The aim is to reduce the tasks that don’t really add value, so advisers can spend more time doing the things that do, providing advice and building relationships with their clients.”
Twenty7tec said ongoing client engagement was central to Steppl’s development, extending its purpose beyond onboarding. The platform is designed for firms operating across mortgages, protection and wealth.
Tucker highlighted retention as a commercial opportunity for mortgage advice businesses as the cost of attracting new customers increases.
Tucker (pictured) said: “The cost of acquiring new clients is so high that losing a significant proportion of your existing client base without servicing and retaining them effectively is a real issue for advice businesses.
“That has to be addressed through ongoing engagement with the client, and increasingly the best way to do that is digitally. Steppl is the start of that journey for us, helping advice firms not only onboard new clients more effectively, but build stronger relationships with them once they’ve got them.”
Tucker said consumers increasingly expected financial services technology to match the digital experiences they encountered elsewhere in everyday life. This was making client-facing technology an increasingly important consideration for advice businesses.
Steppl’s longer-term aim is to support communication and engagement throughout a client’s financial journey.
The podcast also examined the role of AI and automation in reducing adviser administration. Guerra Fernandez explained that Steppl could use AI to extract information from documents, with advisers reviewing and validating the information before it moved through the advice process.
