The future for technology in advice

Technology is here to stay as part of the advice process, it seems. If the advice industry wants to capture younger clients, including those who are likely to be the beneficiaries of generational wealth planning, then the industry will have to continue to adopt technology.

One area that advisers will have to work on when it comes to using technology increasingly with clients is trust, as Roger Brosch, chief executive of Foster Denovo, points out.

“Technology-driven solutions, such as robo-advice, have an important role to play, particularly when it comes to servicing those parts of the market who may feel they are unable to access traditional financial advice,” he notes.

“That said, I think providers have some way to go in building trust before these types of solutions are fully embraced.”

So while the emergence of artificial intelligence cannot be ignored, he thinks its use in the industry remains “in its infancy and we’re yet to see its true potential”.

To read the full article on the Financial Times, click here.