With the FCA pinning its hopes on technology for bridging the advice gap, PA asks: What will mass-market advice look like in a quarter of a century?
The future of bespoke financial advice for the mass market may be human-less: a consumer with a computer and a credit card. Considering how important it is for advisers to be able to tailor their questions to their clients, and to be able to interpret any nuance in their answers, this sort of future may seem fanciful. Yet Martin Wheatley, the chief executive of the Financial Conduct Authority (FCA) is among those suggesting a system like this is workable, and even likely. Last week he even admitted that advisers could be fully replaced by machines as he told the Treasury Select Com...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
