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Data quality 'important to financial advisers'
Aug 24 2010, 09:51 AM
A good standard of data quality is highly important to the work of independent financial advisers.
According to Chris Baigent-Reed, Head of Client Engagement for 1st Exchange, a clean database can save people working in these roles a huge amount of time, allowing them to focus on other areas of business, such as serving clients' needs and gaining new customers.
"Reliable data is also necessary to segment client activity efficiently and to allow advisers to identify and spend more time with those clients who are likely to generate a higher revenue stream," the commentator told IFA Online.
The expert added that data quality can lead to a more effective business strategy by giving accurate insights into a client's portfolio, which can then speed up the advice process.
Earlier this month, TMC Net reported that data cleansing work can be useful to companies which need to process high volumes of information.
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