Automate Advice, Not the Advisor

Automate Advice, Not the Advisor

Advisors have been using tools and technology for decades. Why, then, should the latest technology be any different? Robo-advice is no more than artificial intelligence (AI) technology[1] applied to financial advice. In contradiction to the thought that robos will replace the advisor, this technology can greatly enhance an advisor’s practice.

This threat is only real if the advisor hands clients over to AI. Many advocates of AI offer a business model in which low-value clients are handed off to the robo. This is a recipe for disaster, because today’s low-value clients have high-value family, friends and business relationships and probably will become high value […] Read more