Dave Mason

So for firms that are looking to get

push down the costs of the commodity type services so they can invest in the more client facing digital client experience tools.

That model works really well.

So going to an outsource provider that can do these things efficiently, reduce the operational risk, give you more surety of supply.

And that's a direction a lot of firms take is in to get that economy scale from a supplier.

Great question.

I think a lot of them would say, well, we do invest in CRM, but we probably don't get the benefits that other firms can do.

It can get from a CRM system.

So it's not unusual at all, Johnny, to have a firm with several CRM systems or managing on spreadsheets.

It can be quite immature.

I think a lot of it is, it talks to all the things we've touched on today, but a lot of it is cultural.

So I think the heritage of a lot of firms in wealth management have come from a

stock broking investment management origin.

So that's the conversation topics people are comfortable having is about markets, about investments, about stocks and prices.

That's where, understandably, that's where the value of a lot of the conversations are.

But the harsh reality of growing a business is that you have to be commercial and you have to think about

how you grow a relationship and deepen that.

And actually, these tools are very good at enabling that process if you implement them well and work with them well.

So I think a lot of firms are still wrestling with how do you become more of a relationship managed focused business, as well as still providing that excellent advice and that great market knowledge.

And to what extent can those tools really help you in that process?