Phil Neilson, managing director and founder of The Just Service Group, says the partnership is a milestone for the wealth management sector as it reaffirms that IFAs need to embrace digital technology in order to remain competitive and relevant to clients.
He said: “It is increasingly difficult for IFA firms to attract or even retain their advisers without the use of cutting-edge digital service delivery. Such functions as being able to view all client financial plans on their mobile app and advisers being able to automate the portfolio review process, including rebalancing or moving to model portfolios.”
In forming the partnership with OFS Asia, Neilson said “we were impressed with the success and the business acumen of the owner, Steve Flora, who has driven the company from a small team in Bangkok to a company with 10 offices in Asia and has done so throughout tough but changing times, especially over the last few years”.
OFS has offices in Beijing, Hong Kong, Shanghai, Brunei, Korea, Jakarta and Thailand. Flora was a key driver for the integration of six offshore Montpelier operations with OFS Asia.
“We feel with his experience and knowledge of the industry and clients’ needs, we can further improve our service model. It is a good match for both companies,” Neilson, whose firm recently won three awards at the International Adviser Best Practice Adviser Awards in Hong Kong, added.