But the tool doesn't allow clients to transact. That's partly because advised JC Wealth clients would not be able to transact by themselves in the first place.
Using technology in this way has allowed JC Wealth to optimise the client journey, says Hendry. The business's philosophy on using tech is "if we can make it easier for the clients and also help the team then that's the lens that we're always trying to put to things", he says.
JC Wealth has been working with the app for a little over a year and so far clients have been mainly reactive, says Hendry, though some clients have proactively embraced the technology and have used it to update their property value or other things that add to their overall wealth.
"It's probably a bit of a mix at the moment, but I think it has really good foundations and the plan is to be using it more and more," he says.
"Certainly there's not really any negative feedback on it, whereas when you're doing encrypted emails and things it just doesn't always work."
Optimising the client journey
Much of JC Wealth's early work these days is done remotely and via electronic channels, providing this suits the client and the adviser.
It's what the clients want, says Hendry. It also means the firm is able to serve less wealthy clients, especially when it comes to the financial planning.
Once a client has touched base with JC Wealth, for example through an online enquiry, they would go through a triage process with a member of the support or client liaison team to determine what they might need help with.
The client gets assigned an adviser and has an initial meeting booked in straight away. This ensures the client doesn't have to wait around for someone to contact them, Hendry says.
"That first interaction, there's a decent level of continuity for the person getting in touch because ultimately, if they're going to move forward with us, the next appointment is already in the diary. They know what's happening."
The meeting with the adviser that follows is usually done via Teams, unless the client wants to meet face to face.
It functions as a suitability assessment both ways - on the client's and the firm's behalf.
"Typically, anyone can be our client in the first instance, because if they're willing to go through the financial planning exercise there's a natural break at the end of that process," says Hendry.
