Financial advisers now see robo-advice as a complementary tool to their business, according to a report from the Financial Planning Standards Board. The board said that in its first survey of financial advisers, more than half (53 per cent) reported using robo advisors.
Financial advisers now see robo-advice as a complementary tool to their business, according to a report from the Financial Planning Standards Board. The report showed that compared to 2015, when advisers saw automated advisory tools as a threat, planners now believe fintech tools can help to increase practice efficiencies, raise cost-effectiveness levels and serve a younger clientele with fewer investment-worthy assets.