Fairstone has been prompted by the coronavirus crisis to launch a digital remote advice service. The “zero touch” solution, uses Microsoft Teams and will include a pre-meeting digital introduction, and presentation and guidance tools.

The firm says it will provide an “end-to-end” secure paperless process using tools such as Adobe Sign.

Research carried out among Fairstone’s consumers and advisers revealed that 88 per cent of consumers would be happy to have virtual meetings with their advisers.

Almost three-quarters (73 per cent) said interactive video conference was their preferred method for a virtual meeting.

Consumers feel reassured if they can see who they are talking to (66 per cent), while 24 per cent stated security of the application being used as an important factor.

In a separate survey, advisers revealed that clients prefer a mix of face-to-face and remote meetings. Advisers also highlighted advantages to working remotely such as more effective use of time, positive client feedback and a better work/life balance.

Fairstone chief executive Lee Hartley says: “As a technology leveraged firm, we have always taken pride in being operationally agile. By taking a flexible and adaptable approach, we have been able to incorporate the lessons and best practice we have learned from our period of working from home.

“While face-to-face and direct contact with clients will always remain at the core of our business, technology can allow advisers to work more efficiently and spend more time with clients.

“Championing a new innovative world of working, which seamlessly combines first-class remote and real-life practices, will enable us as a firm to embrace the best of both worlds. Our aim is to engage with clients in a secure and sustainable way to ensure we maintain the highest standard of service.”

He adds: ““ZETO reinforces Fairstone’s commitment to making wellbeing a priority, supporting new and existing clients in a zero-touch environment without any interruption to operational output or most importantly, service levels.

“This move represents another differentiator in our strategy – the key part is to decide just how much of our business we want to deliver in this way and for which workstreams does ZETO become our default.”

The firm says the solution has been developed to ensure compliance from both a regulatory and GDPR perspective.