Andre Costa on Advicefront and getting started with new clients – MAF202

In this episode, I talk to Andre Costa of Advicefront.

It’s all about helping advisers get started with new clients in an engaging way that let’s them focus on building long term relationships. We chat about where the idea came from and how Andre and the team developed and launched the service.

Welcome to episode 202 of the Marketing and Finance Podcast.

Andre Costa on Advicefront and getting started with new clients - MAF202

What you’ll hear about in this episode

  • What Advicefront is
  • How Advicefront helps advisers connect with their clients
  • Where the idea for the tool came from
  • Company marketing tactics
  • The biggest challenge Advicefront has faced
  • Their business successes to date

Who is Andre Costa?

Andre studied architecture before changing to software development, applying what he’d learned about design.

He is the CTO of Advicefront, a front-end tool for financial advisers to onboard their clients and learn more about them. It links into other apps and tools, like Voyant, to create financial planning solutions for customers.

Andre says it combines everything he loves – design, technology and finance – in one.

Summary of our chat

Advicefront allows financial advisers to collect information from clients digitally, eliminating the need for face to face meetings during the fact find process. It saves the client time, as they just log in, complete the risk questionnaire and sign. It also enables advisers to instantly collect their set-up fees.

They believe that meetings during fact-finding aren’t needed. Clients appreciate being able to complete the process in their own time. The adviser then quickly gets to the stage of addressing the client’s needs. However, they encourage face to face meetings after that when possible to help build long term relationships.

CEO Jose Supico came up with the idea of Advicefront while working as a financial adviser in Portugal. He wanted to build a tool to help advisers, and toyed with creating robo-advice. Instead, he created something to make them more efficient and productive, and to win more clients.

Advicefront recently received investing which enabled them to build a team of developers, designers and marketing. They researched the market and began building social awareness. Now, they’re heavily active on Twitter and LinkedIn, and share videos to explain latest updates. Adviser beta testers also spread the word and give recommendations.

Andre says their biggest challenge has been breaking into the UK market, because the team is based in Portugal but the company is British – there was some prejudice. It was also difficult for them to have a presence on social media and at industry events, so it took time to generate awareness.

Advicefront have created a positive community, where advisers can give feedback on the tool as they test and use it with clients. Setting this up while growing was very useful. They have a core group of loyal advisers using the tool every day and an international bank as a client.

What’s Next for Advicefront?

The next step for Advicefront is to develop further modules for the platform. These are for report planning and building, and will integrate with other tools to do so. They are also working on supporting advisers to execute financial plans. Then, they’re looking to expand outside of the UK. 

An Example of Simple Marketing

Andre says that Uber keep everything straightforward. Their communication is clear, the app is simple to use, and it allows him to get where he needs to be quickly and easily.

An Example of Marketing Muppetry

Andre says that some airlines make things complicated. TAP (Air Portugal) has a system which is a mess. It’s difficult to check in and communication is poor.

Links and contact details

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