Robo-advice can be an appropriate entry point for future clients and could help fill the advice gap but it also opens the market to the risk of systemic failure, Personal Finance Society (PFS) chief executive Keith Richards has warned.
Speaking at today's 'Robo Advice - Threat or Opportunity' conference, co-hosted by the PFS and the European Financial Planning Association, Richards (pictured) argued digital advice propositions and automation within financial services should not immediately be seen as a threat to the advice profession. "Humans will always have a role to play in delivering a robust financial planning service to the customer", he said, before noting robo-advice should bring greater choice to consumers. "There are many consumers who are reluctant or unable to engage with the professional financial advic...
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