'Adviser in their pocket': Digital advice will serve lower value clients

Digital advice great first step for people who are ‘scared of money’

Julia Bahr
clock • 2 min read

Digital advice has made financial expertise and knowledge more accessible to everyone and will continue to grow over the next few years, delegates at Boring Money’s Retail Investor 2022 event heard.

Speaking at the event, Wealth Wizards founder and chief executive Andrew Firth said the digital "adviser in their pocket" would appeal to people with lower levels of investable assets who traditionally do not seek out face-to-face advice. He predicted: "Those financial wellbeing apps will be truly on your side rather than selling a product." To address the advice gap and tackle apathy when it comes to making financial decisions, the importance of face-to-face advice should not be underestimated, said Octopus chief executive Ruth Handcock. "People are really scared of money." Resear...

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