The impending arrival of robo-advice represents an opportunity for my advice business; not a threat
- Agree (50%)
- Disagree (43%)
- Not sure yet (7%)
Our latest poll seeks your views on whether you consider the advent of robo-advice to be a potential friend or foe for your business.
One of our stories this week reports robo-advice is set to become a channel that will create a new source of demand from consumers for financial advice (see: Robo-advice to Channel Business…).
It’s argued that robo-advice can assist existing advice businesses, should they wish to utilise its potential, to:
- Generate new clients for advisers
- Perform ‘pre-work’ before an adviser conversation
Do you support this proposition?
In the same article, Kiwi Wealth’s Joe Bishop says robo-advice certainly has a place within risk-focussed businesses:
“I absolutely believe that there is a path for risk products within robo-advice…What it requires is advisers to recognise and embrace this – not to see it as a challenge, not to see it as a threat but to see it as an opportunity.”
Do you agree with Bishop’s contention that robo-advice will be good for your business – risk focussed or otherwise? Or do you think that this may be the thin end of the wedge? Will the coming of robo-advice force you to reconsider how you add value for your clients?
Tell us what you think and we’ll report back next week.