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Adviser firms still struggling with GDPR

15 April 2018

With a matter of weeks before the General Data Protection Regulation (GDPR) comes into force, advisers are still struggling to meet all the requirements, according to new research by Intelliflo. 

In a survey of 245 Intelligent Office users during mid-February to early-April 2018 testing their knowledge of the new regulation, just one in five (18%) reached “Expert” status, scoring between 90% and 100%.

Almost three in give (58%) who took part reached ‘Pro’ status, scoring between 60% and 90%. However, just under a quarter (24%) were deemed ‘Rookie’ stage, scoring between 0% and 59%.

Rob Walton, Intelliflo’s chief operating officer and chair of Intelliflo GDPR Working Group, said: “The message about needing to take action to comply with the GDPR is definitely getting through to advisers. Last September we found that around 9% weren’t even aware of the new regulation. The knowledge survey shows that around 99% now do know about it and the majority are taking steps to increase their understanding of the regulation, although there’s still plenty of scope for improvement.”

To help advisers prepare for the new regulation, set to come into force on 25 May 2018, Intelliflo has collaborated with Brookland Computer Services to run a detailed readiness assessment, enabling iO users to assess how far their systems meet the new regulation and identify which areas still need attention.