Will technology eventually replace human financial advisors?

While online tools are increasingly being adopted by investors, we believe people will continue to benefit from access to skilled advisors

roy_simonSo-called robo-advisors — services that provide automated investment recommendations — have gained acceptance in recent years for their ability to provide investors with easily accessible, around-the-clock financial services.

Not surprisingly, one of the biggest questions I hear in the industry is whether or not technology will ultimately supplant the human element of investment advice. After all, many people remember how travel agents used to be a critical part of vacation planning, before the internet age made it easy to book airlines and hotels yourself.

I believe digital tools can enhance the advisor-investor relationship, not end it. Instead of viewing financial technology as a replacement for traditional, relationship-based advice, I believe it should be viewed as a complement to the advisor’s existing practice.

Parallels with the tax preparation industry

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