Robo-advice risks having short shelf life, Willis Owen warns

Consumer engagement and investment needed

Tom Ellis
clock • 1 min read

The robo-advice sector will have a "short shelf life" with customers if it does not improve on customer engagement, Willis Owen has warned.

In an article for policy publication The Parliamentary Review, the investment service provider said the sector should have "their finger on the pulse of the consumer" to best serve them. It said the continued focus on just developing technology threatened to alienate consumers. Willis Owen said the issue of robo-sceptical consumers was highlighted in recent research carried out by the firm, which found just half (53%) of consumers trusted technology to help them with their finances. In contrast, many more (72%) were found to trust technology to help with things like health and fitness...

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

Join

 

Already a Professional Adviser member?

Login

More on Technology

How advisory firms can tackle evolving financial crime challenge

How advisory firms can tackle evolving financial crime challenge

Digital defences must adapt to preserve adviser market integrity

Ian Stott and Babar Hayat
clock 11 April 2024 • 5 min read
Small advice firms urged to build a 'technology network'

Small advice firms urged to build a 'technology network'

‘IFAs should build a technology network within their professional one’

Isabel Baxter
clock 04 April 2024 • 2 min read
Lack of technology available when it comes to 'slow money'

Lack of technology available when it comes to 'slow money'

‘We need to bring fast money concepts into the slow money side’

Isabel Baxter
clock 02 April 2024 • 2 min read