Experts in Personalized Retirement Plan Design & Administration

Robos Won’t Replace Human Advisers

A new analysis from Cerulli Associates projects the digital advice market will continue to grow strongly through the end of the decade—but at the same time it is unlikely that human advisers will fall out of favor. While people have increasing access to technology that allows them to manage their own financial affairs, many remain reluctant to take on the vast responsibility.  Source: 

Key Points: 14

“It is essential for traditional financial advice providers to view digital advice not as a force that will displace them, but instead as a way to broaden their opportunity to deliver deeper levels of advice to a wider client base” (Scott Smith, Director as Cirulli).

The Cerulli report suggests that “investors still perceive that advisers who can understand and help set unique and individualized investing goals as highly valuable.”

“With ongoing geopolitical turmoil, households continue to seek advice from a professional who can help them manage the turbulent times…versus making panicked decisions that will make a negative impact on a portfolio.”

While Cirulli’s analysis suggests that the DOL conflict of interest rule will likely lead to some clarity about certain roles, “the majority of individuals will still likely believe that anyone selling or recommending financial products to be a fiduciary, regardless of actual obligations or reams of disclosure.

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