'Bionic' advice hits £500m milestone

The so-called 'bionic advisory service' sets out to combine technology with financial services knowledge, expertise and a human interface. Clients receive regulated, tailored advice delivered via phone or internet. Clients engage over the telephonewith a qualified adviser, who will then run a factfind. Depending on the complexity involved, the system will produce a report, which the adviser will then look over and edit as appropriate. According to LEBC chief executive Jack McVitie, the bionic system is at present less effective the more complicated the advice gets and, in some circums...