No matter how intuitive an investing app’s algorithm might be, there’s no code that can replicate the value of a good listener sitting across the desk, getting to know your life story, and offering advice based on your needs.
Case in point: 84% of investors say that human financial advisors will always be needed and will not be replaced by automated investing technology, according to the newest Wells Fargo/Gallup Investor and Retirement Optimism Index survey.
Fintech innovations hold enormous potential to assist investors. However, I can’t help but put myself in the shoes of experienced advisors who watch with unease, as tech start-ups roll out apps that are advertised as able to do their jobs.
Luckily, our research with Gallup indicates that we’re not in for a dark, dystopian future where certified financial planners must duke it out with shiny robotic versions of themselves. Most investors in our survey value their relationships with advisors and see the benefits of working with a trusted partner.
Learn more by reading our Featured Insights piece explaining why investors choose the human touch over apps—plus four tips on how advisors can improve their client service in the digital era.