"Many will consider integrating technology into their businesses more, while others will look to outsource functions so they can focus more on financial planning."
However the platform has warned that increased demands mean capacity issues are hitting home for some. 40% of users said they spent less than 20% of their time with clients, while it was found that clients most valued the contact time they had with advisers.
As client numbers increase, the survey also found that the average values available to invest are also rising. More than double the proportion of clients have more than £500,000 to invest, compared to 2017’s survey.
These increases are forcing firms to ensure their service proposition is geared up to match the pace of growth of their business. 74% of Nucleus users said their clients have at least a moderate expectation of digital engagement with their investments.
Barry Neilson, chief customer officer at Nucleus, said: “The growth adviser firms are currently seeing bodes really well for the future. Not only are client numbers and assets going up, but many have recognised the need to engage with them digitally, something that will appeal to future generations as wealth is passed down.
“Advisers must realise though that they cannot get complacent, especially as capacity issues begin creeping in. Clients have big expectations for the quality of service they receive so the proposition must reflect this. Many will consider integrating technology into their businesses more, while others will look to outsource functions so they can focus more on financial planning."
