Robo-advice may be less popular among technology-savvy millennials than is commonly assumed, according to a group of industry experts.
A panel debate at the Morningstar Conference suggested young people still wanted a human element to financial advice, despite the perception they favour fully automated processes. Speaking on 10 May TISA's Charles McCready, Redstart co-founder Freddie Ewer and Schroders head of UK financial institutions and strategic accounts James Rainbow agreed there was a place for robo-advice but said financial advice was a long way off from becoming "extinct". McCready, TISA's Savings & Investment Policy Council deputy chairman, suggested there was "quite a strong appetite" from young people for...
To continue reading this article...
Join Professional Adviser for free
- 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