Industry urged to embrace robo-advice to attract millennials

Adviser platform Nucleus asked 200 of its users about ways to close the so-called advice gap and found while 88% of advisers believed there was an advice gap, a mere 28% saw robo-advice as the solution, at least in their own business. A mere 15% said they were actively looking at alternative models to face-to-face advice to help address the advice gap and any potential threat from robo-advice. The majority of Nucleus users (53%) appeared neutral about the threat or opportunity created by robo-advice. Nucleus business development director Barry Neilson said firms should do more to e...