When it comes to perceptions of robo or automated advice, writes Marilyn Cole, the views of advisers and consumers may not be as far apart as many market-watchers appear to believe.
Broadly speaking, advisers who are embracing robo-advice, or at least evaluating whether to do so, believe it offers a means of servicing investors for whom full face-to-face advice is not affordable - or certainly not on the post-RDR charging structures of fees or percentage of funds under management. And it seems a significant number of consumers would agree. At Space, in our latest piece of research and market analysis, Will the public go for robo-advice?, consumers told us they think face-to-face advice may be appropriate if they inherited a large amount of money. Indeed, to test ...
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